SMOKING: A former salmon smoking distribution and retail business on the South Downs at Edburton, Henfield, West Sussex, and including woodland, sold for £653,000 in a bidding war. Lot 8 was among 180 lots listed across southern England in Clive Emson Auctioneers’ September auction. A total of 35 bids were made for the Edburton lot, with the final one at £78,000 above guide price.
A purpose-built block of six flats in Kent fetched just over £1m after attracting 117 bids when it came up for sale in the latest auction by Clive Emson Auctioneers.
Lot 68
The property at Northfleet, Gravesend, went for £1,009,000 in a bidding war, with the purchase price representing a gross rental yield of 7.2% – the annual rental income is £73,000 (lot 68).
James Emson, Managing Director, said: “Many of the 180 lots listed across southern England went under the hammer – buyers were undeterred by the forthcoming Budget on 30 October and whatever tax changes that will bring.”
More than £26m has been raised for clients in the September auction.
Currently let at £39,600 pa, a commercial and residential investment in one of the main shopping areas of Folkestone, Kent, fetched £520,000, providing a gross rental yield of 7.6% (lot 36).
An upper-level studio flat in Palmers Green, London, achieved £75,000 (lot 154) while a four-bedroom detached bungalow in Carbis Bay, St Ives, Cornwall, sold for £120,305 (lot 150) and a former ice cream shop in the county’s Bude was acquired for £45,000 (lot 144)
In Redhill, Surrey, a former Salvation Army building sold under the hammer for £500,000 (lot 140) while, in an executors’ sale, a three-bedroom, end-terrace house in Chelmsford, Essex, was purchased for £375,000 (lot 116).
Lot 140
Hastings Borough Council instructed the disposal of five vacant flats, described as “for improvement”, at Wellington Square in Hastings, East Sussex, with £536,000 paid (lot 96) – there were 111 bids, with the final one coming at £126,000 above guide price.
A former salmon smoking distribution and retail business over 10,000 sq ft (926 sq m), on the South Downs at Edburton, Henfield, West Sussex, and including woodland, sold for £653,000 (lot 8), achieving £78,000 above guide, with 35 bids.
Clive Emson Auctioneers’ next auction, the seventh of eight this year, starts on 30 October and concludes on 1 November. Entries for lots close on 7 October and the catalogue is live from 11 October.
Meanwhile, in a standalone one-lot auction on 3 October, the firm has been instructed to sell the seafront Queens Apartments at Robertson Terrace, Hastings, East Sussex.
The property, with eight commercial units and 44 residential flats sold on long leases, has a guide price of £750,000-plus and is currently let at £135,252 pa.
James said: “We anticipate keen interest from institutional buyers in particular – the gross rental yield at the guide price would be an impressive 18%.”
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