More than £18m raised in Clive Emson Auctioneers' 15th June auction, with 140 lots across southern England.

 

KINGS BID: This mixed-used former restaurant premises (pictured above) in Kings Road, Brighton, with self-contained upper parts, fetched £444,000 in the June auction by Clive Emson Auctioneers. Lot 133, which attracted 53 bids, went for £69,000 above the guide price and was among 140 lots listed across southern England. The firm’s next auction ends on 26 July, with bidding live 48 hours beforehand and the catalogue live from July 7. 

 

A bidding war broke out over land in Kent with four adjacent houses, with Clive Emson Auctioneers’ hammer coming down on a 91st bid of £1,556,000.

 

The 0.7-acre site in Park Crescent Road, Margate, with potential for conversion into flats or HMOs, went for £656,000 above the guide price of £900,000 (lot 10).

 

It was among 140 lots listed in the firm’s June auction in southern England, raising more than £18m for clients.

 

James Emson, Managing Director, said: “There was considerable interest from investors in the Margate lot – at one stage the bidding jumped from steady increments of £1,000 to a leap of £24,000 to £1,200,000 before the final bid came in at £1,556,000.”

 

He added: “Our June auction, with various bidding wars, once again showed that many property investors continue to make purchases as they eye long-term capital growth and steady rental income, irrespective of the seemingly perennial challenges facing the UK economy.”

 

In Hailsham, East Sussex, a smallholding with nine acres and let at £1,000 pa, fetched £855,000 in the 120th bid, which was seven times above guide (lot 35).

 

A former primary school in Etchingham (pictured below) also sold in a bidding war, at £662,000, which was £237,000 above guide price. A total of 89 bids were made for the site, which was put on the market on the instructions of East Sussex County Council (lot 91).

 

 

 

 

 

 

 

Commercial premises at Larkfield, Aylesford, Kent, chalked for redevelopment potential, went for £507,000, which was £107,000 above the guide price, with 116 bids (lot 97).

 

The former period St John Moore Library in Folkestone, Kent, sold for £156,000 off a guide price of £100,000 (lot 140).

 

Over in Torpoint, south-east Cornwall, a business park sold for £335,000 from a guide price of £190,000, with 73 bids. Let at £25,037 pa, the rental income is equivalent to a gross yield of nearly 7.5% (lot 80).

 

Clive Emson Auctioneers’ next auction ends on 26 July, with bidding live 48 hours beforehand and the catalogue live from July 7.