Investors attracted to a ‘good mixture’ of properties at auction

A former telephone exchange with residential planning consent near Diss in rural Norfolk, which sold for £110,000 against a guide of £50,000, was among the auction highlights this month as property auctioneer Clive Emson reported sales of more than £18.5m and a success rate of 83% from 145 lots.

Other highlights from Clive Emson’s June sale included a Royal Methodist Church in Tunbridge Wells – considered to have development potential selling for £900,000 against a guide of £500,000 to £600,000.

Three adjoining properties in Brighton arranged as seven purpose-built units – currently generating £17,564pa in rent with three vacant – went for £940,000 on a £750,000 guide.

In the Hampshire section, a derelict former scout hut achieved £145,000 in a bidding war - £40,000 above the guide.

With four of the eight 2016 auctions now complete, Clive Emson has enjoyed an impressive first half of the year with sales to the value of £84m at a success rate of just over 85%, which is above the national average.

James Emson, managing director at Clive Emson, said: “We are continuing to see excellent results across the board even with outside influences interfering with the usual ebb and flow of the property market.

“I put this down to an ongoing supply of excellent and varied properties and land being made available through us by vendors – and discerning purchasers recognising they can rely on Clive Emson to come up with a good mixture on offer.”

The next Clive Emson auction will be staged from 25th to 29th July at five venues across the south of England. Entries close on Monday 27th June.