A bidding war resulted in two blocks of adjacent seafront flats in Kent selling for £2,406,000.
The residential investment on Folkestone’s Sandgate Esplanade was among 166 lots listed across southern England and in Scotland in the latest auction by Clive Emson Auctioneers, regional land and property auctioneers.
James Emson, Managing Director, said: “There was much interest in the residential investment at Folkestone, comprising 11 apartments with balconies and sea views.
“We sold the two freehold blocks on the instructions of Fixed Charge Receivers, with the final bid of 161 coming in at £2,406,000, which was £406,000 above guide price.
“Our June auction clearly chimed with investors, with many residential and commercial properties going under the hammer and raising more than £22 million for clients.”
Other properties were also bought for in excess of guide prices.
An architect-designed house in Marazion, south-west Cornwall, with panoramic sea views across Mount’s Bay and St Michael’s Mount, fetched £565,000, more than double guide price (lot 125).
With a final bid of £742,000, a large commercial and residential premises at High Street, Cranbrook, Kent, sold for £117,000 above guide price following 124 bids - the vacant commercial property used to be a Lloyd’s Bank and attached Bank House is let at £20,000 pa to residential tenants (lot 22).
Coming in at £392,000, nearly double the guide price, were four apartments over five floors at Lansdowne Terrace, Exeter, Devon, with 188 bids. The flats are fully let at £29,640 pa (lot 121).
Also going under the hammer was land with planning permission for four detached houses at Harefield, Uxbridge, south-west London; £658,000 from the guide price of £650,000-plus (lot 3).
Entries for Clive Emson Auctioneers’ July online auction close on 30 June, with the catalogue online from 3 July.
Bidding is live from 22 July, ending 48 hours later on 24 July.