A residential investment in Rochester, Kent, proved to be the star turn of Chatham auctioneer Walter & Randall’s first sale of the autumn, and highlighted the increasing popularity of this type of property investment.
The freehold semi-detached three-bedroom property at 38 Blaker Avenue, producing £1,920 pa, sold for £35,500.
Overall, the auction raised £482,745 with the disposal of 16 of the 29-lot catalogue of properties and development sites in the South East.
Other residential investments to attract interest were: a freehold three-bedroom terrace house at 48 Prospect Avenue, Frindsbury, Strood in Kent, producing £1,872 pa, which sold for £23,750; two similar freehold properties at 13 and 23 Ravenswood Avenue, Frindsbury, producing £2,100 pa and £1,768 pa respectively, which went for £27,500 each; and a freehold two-bedroom semi-detached house at 40 Haig Avenue, Rochester, producing £1,820 pa, which was knocked down for £31,500.
The catalogue’s biggest lot, Restoration House, Crow Lane, Rochester, failed to sell. The freehold of the Grade I Elizabethan mansion — the model for Satis House in Charles Dickens’ Great Expectations — is available at £600,000 to £700,000.
