Town centre shop goes at 250th auction by Clive Emson Auctioneers
The freehold of a commercial property let to WH Smith in Helston town centre has sold for £196,000 at auction. (WED JUNE 12)
It was among 175 lots listed in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
The double-fronted premises in Meneage Street feature a retail area on their ground floor with offices, store rooms and cloakrooms above as well as an array of outbuildings, a courtyard garden and car park outside.
Already let at rental of £21,000 per annum, they will deliver a gross rental yield of nearly 11% for the new owner. They were listed with a guide of £150,000 plus.
Senior Auction Appraiser Katie Semmens said: “This attractive building drew strong bids from investment landlords.
“The new owner has made a great addition to their portfolio with a gross rental yield of 11% per annum, with potential for future development, subject to all the necessary consents being obtainable.”
It was auctioned jointly with Miller Commercial of Truro.
The June auction was Clive Emson Auctioneer’s 250th since it was founded in 1989.
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Houses in demand at 250th auction by Clive Emson Auctioneers
A range of residential properties in the Redruth area sparked interest at Clive Emson's 12th June auction.
In Lanner, an end-terrace cottage sold for double its freehold guide price when the gavel fell at £102,000.
With two bedrooms, a courtyard and a garden, the house at Lanner Hill was listed with freehold guide of £50,000 plus.
Senior Auction Appraiser Katie Semmens said: “There was keen interest in this property with appeal for builders seeking to improve and resell into the market, owner-occupiers and investment landlords.
“It eventually went for double its freehold guide, demonstrating the continued demand for properties with potential in popular villages offering the tranquillity of the countryside and proximity to amenities.”
The property was auctioned in arrangement with MAP estate agents of Barncoose.
Trewyn, in Carnmenellis, sold for £200,000 freehold. With far reaching views across the countryside towards Stithians Reservoir, the two-bedroom detached bungalow was listed with a guide of £185,000 plus.
It was auctioned in arrangement with MAP estate agents of Redruth.
Cleeve Bungalow, in Voguebeloth, Illogan, went for £121,000. A two-bedroom, detached bungalow, it was listed with a freehold guide of £120,000 plus.
It was auctioned in arrangement with Bill Bannister Estate Agents of Redruth.
* In Camborne, a semi-detached house with three bedrooms in Dolcoath Road sold prior to auction at a sum in excess of its freehold guide of £95,000.
The property was auctioned in arrangement with Bill Bannister Estate Agents of Redruth.
The June auction was Clive Emson Auctioneer’s 250th since it was founded in 1989.
Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.
The next auction by Clive Emson Auctioneers - the fifth this year - ends on Wednesday, 24 July. Bidding opens 48 hours beforehand. Lot entries close on 1 July, with the online catalogue available from 5 July.
See https://www.cliveemson.co.uk for more details.