Bidding war sees shop price rise

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A BIDDING war saw a commercial property in Southsea go under the auctioneer’s hammer for £60,000 above estimate.

The freehold building at 27 and 27a Fawcett Road went for £175,000 and was among 110 lots being sold by regional land and property auctioneers Clive Emson across southern England.

Rob Marchant, auctioneer, said: ‘There was keen interest in the lot, with fierce bidding.’

The premises comprise a shop and a self-contained flat with two bedrooms.

Two vacant lock-up garages at the rear of 1-4 Southsea Terrace, Southsea, guided freehold at £20-22,000 each, sold before the auction in excess of the guide price.

Clive Emson’s first auction of 2017, one of eight for the year, takes place at the same venue, the Ageas Bowl, on Wednesday, February 8, at 11am.