Clive Emson Auctioneers May sale results
Homes and land in the West Country proved popular with bidders at Clive Emson Auctioneers’ May sale.
Leading the investment cavalry charge was a 0.85-acre plot of land with approval for agricultural barns to be converted into five houses at Modbury, Ivybridge, Devon – the site was sold for £474,000 (lot 12).
Seven other lots in the region also went under the hammer, including a field for £99,000 by a disused quarry near St Austell, Cornwall (lot 81).
A four-storey vacant building arranged as three flats in Weston-super-Mare, Somerset, at the attractive stone-fronted Oriel Terrace, fetched £252,000 (lot 70).
James Emson, Managing Director, said: “Eight lots sold in the West Country, including a house for £137,000 (lot 29) at Looe, Cornwall, a popular coastal town which is the backdrop to the new BBC TV drama Beyond Paradise, a spin-off from the hit series Death in Paradise set in the Caribbean.
“Away from the West, there were various lots which attracted property investors with a range of budgets, including a business centre near Southampton which went for £420,000 and returns an inflation-beating gross yield of 10.6% on the current rental income of nearly £44,645 per annum (lot 16).”
A former restaurant at Wrotham, Sevenoaks, Kent, sold for £752,000 (lot 119), which attracted the highest price bid in the auction.
With 131 lots listed across southern England, the auction raised £15.5 million for clients.
Clive Emson Auctioneer’s next sale, the fourth of eight this year, starts on 13 June and ends on 15 June, with lot entries closing on 22 May and the catalogue available from 26 May.