Revealed: the properties that sold to raise over £9m at auction
- Credit: Auction House East Anglia
Auction House East Anglia held its fifth auction of the year on Wednesday, July 27, selling 53 lots and raising nearly £9 million - despite rises to interest rates and inflation.
“There were 189 registered bidders and over 1,000 people watching the four and a half hour auction," said Robert Hurst, auction surveyor.
"Many lots performed well irrespective of the recent interest rate rise to a 13 year high of 1.25pc, the current 9pc inflation rate, a 40-year high, and forecast by the Bank of England to be even higher by the autumn.
"Our buyers view land, bricks and mortar as investments that outperform changes in the economy over the long term. Investors like the attractive yields in our auctions which in some cases outstrip inflation.
"The highest priced lot of the day was on behalf of executors, a four-bedroom detached bungalow off Roman Way in Felixstowe which sold for £412,000.
"The lowest priced lot was a 1.2 acre parcel of amenity land off Malthouse Lane in Ludham which sold for £26,000, showing there was something for every budget."
A mixture of other lots including, residential, commercial and land went under the hammer. Some of the sales included:
- 1 Mysterious 'large black animal' spotted roaming in fields near city
- 2 City pub to reopen with new owners hoping to bring back 'good old days'
- 3 Police and ambulance attend Norwich home in busy road
- 4 Busy city road closed for gas works until late August
- 5 Van offering free burgers coming to Norwich city centre this weekend
- 6 Britain's poshest train returning to Norwich Station later this year
- 7 Bid to redevelop corner shop with £1.5m extension and swanky homes
- 8 5 chart-topping acts heading to Norwich later this year
- 9 Bottomless brunch coming to popular city steakhouse
- 10 Man in court after being ejected from Norwich nightclub
- A three-bedroom semi detached house on Kimberley Street in Norwich requiring improvement sold for £197,500.
- A terrace house and two flats let producing £11,640 pa on Drayton Road in Norwich sold for £291,000.
- A on- bedroom modern town house let producing £530 pcm (£6,360 pa) on Catton Grove Road in Norwich sold for £121,000.
- A three-bedroom mid-terrace house let producing £725 pcm (£8,700 pa) on Grant Street in Norwich sold for £175,500.
- A let shop producing £10,200 pa on Sprowston Road in Norwich sold for £102,000.
- A detached commercial property comprising a let optician and vacant offices on Cawston Road in Aylsham sold for £162,000.
- A four-bedroom detached house in need of updating on Cotman Road in Norwich sold for £358,000.
- A three-bedroom semi-detached house requiring modernisation on Aylsham Road in Norwich sold for £238,500.
- A one-bedroom terrace house let producing £475 pcm (£5,700 pa) on Hockham Street in Kings Lynn sold for £69,000.
- A one-bedroom detached cottage on New Roman Bank in Terrington St Clement sold for £128,000.
- A four-bedroom detached bungalow on Rectory Lane in Watlington sold for £220,000.
- A four-bedroom detached cottage requiring modernisation on Lyng Road in Sparham sold for £234,000.
- A detached three-bedroom barn conversion off The Street in Swannington sold for £379,000.
- 0.18 of an acre of land within Reydon Business Park park with planning consent for commercial development sold for £125,000.
- A terraced house let producing £550 pcm (£6,60 pa) on Chevallier Street in Ipswich sold for £124,000.
- A terraced cottage requiring improvement on Loraine Way in Bramford sold for £161,000.
- On behalf of a housing association, a two-bedroom detached bungalow of non-standard construction off Folgate Lane in Walpole St Andrew sold for £76,000. Another similar property on the same street sold for £85,000.
- 3.4 acres of amenity land adjacent to Roughton Common off Thorpe Market Road sold for £41,000.
- A two-bedroom top floor flat with off road parking off Overstrand Road in Cromer sold for £190,000.
- A semi-detached cottage in need of complete refurbishment off The Loke in Winterton on Sea sold for £161,000.
- On behalf of executors a two bedroom detached bungalow near the beach off Vale Road in Mundesley sold for £260,000.
- A thatched terrace cottage in need of full restoration on Beach Road in Caister on Sea sold for £120,000.
- On behalf of a company a three-bedroom semi-detached house requiring refurbishment off Sparrow Close in Bradwell sold for £189,000.
- A three-bedroom semi-detached house in need of renovation on Ramsey Road in Ramsey sold for £176,000.
- A first floor one-bedroom flat on Park Road in Peterborough sold for £55,000.
- On behalf of mortgagees, a one-bedroom second-floor flat off Welham Street in Grantham sold for £70,000.
- A fire-damaged two-bedroom attached house requiring complete refurbishment on Southtown Road in Great Yarmouth sold for £50,000.
- A residential investment opportunity comprising three flats producing £13,560 pa off South Quay in Great Yarmouth sold for £120,000.
- A four-bedroom terrace house needing updating on Victoria Road in Great Yarmouth sold for £89,000.
- A licenced house of multiple occupation (HMO) let producing £15,600 pa on Rodney Road in Great Yarmouth sold for £140,000.
- A two-bedroom mid-terrace house requiring updating on Camden Road in Great Yarmouth sold for £80,000.
- A three-bedroom terrace house requiring improvement on Lancaster Road in Great Yarmouth sold for £89,000.
- A three-bedroom detached bungalow requiring updating on Nightingale Close in Scratby sold for £228,000.
- A let commercial premises on Prince of Wales Road in Norwich sold for £172,000. A vacant commercial premises nearby on the same street sold for £356,000.
Auction House East Anglia's next auction will take place on Wednesday, September 14 with a closing date for entries in mid-August.
If you have land or property that needs to be sold, call the auction experts on 01603 505100 for free impartial advice or contact the team via the website at auctionhouse.co.uk/eastanglia.
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