Under the hammer...

Mutiny Festival brought over �2m to the local economy Picture: Paul Windsor

Mutiny Festival brings £2.7m into Portsmouth economy

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A semi-detached house at Havant is to go under the auctioneer’s hammer.

The two-bedroom freehold property at 52B East Street is among 20 lots being sold by regional land and property auctioneers Clive Emson.

With a reserve no higher than £1300,000, the auction takes place at the Ageas Bowl at 11am on Thursday, February 11.

Auctioneer Rob Marchant said: ‘The property, which has a car parking space, was previously in use as a letting investment and is considered ideal for continued use or for owner occupation.

‘We anticipate keen interest, particularly because of the impending stamp duty hike deadline on buy-to-let rentals.

‘Investors may want to get in quickly.’

Viewing is by arrangement with estate agency Fry & Kent.

Also under the hammer is a two-bedroom, first-floor flat at 131E Southwood Road, Hayling Island. Leasehold, the reserve is no higher than £100,000.

Donald Wright, senior auction valuer, said: ‘The flat has an allocated parking space and the lengthy remainder of a 189-year lease. Being near the beach and sailing club, this would make a nice weekend bolt-hole.’

A pair of leasehold flats at 1 and 2, 109 London Road, Cowplain, each has a guide price of £65-70,000; each one is currently let at £6,180 per annum.

In total there will be 159 lots in February’s five auctions by Clive Emson across southern England. It has been a record-breaking year for the business. The independent, family-run firm catalogued 1,153 lots and sold £145m worth of property in 2015.

And the specialist land and property company paid a record £850,000 to joint auctioneers, including to ones across the Portsmouth region, pumping this money directly back into the industry by linking with estate agents without auctioneering facilities.

Managing director James Emson said: ‘It has been a remarkable year for Clive Emson Auctioneers – our biggest to date.

‘Not only have we achieved record sales figures, but we have also moved into Essex and north-east London.

‘We are looking to consolidate our position as the fourth largest auctioneers in the UK during 2016 and continue to grow the business organically.

‘People come to us because we are trusted and we deliver results.’

Clive Emson Auctioneers runs eight sets of five auctions every six weeks throughout the year in Essex, Kent, Sussex, Surrey, Hampshire and the west country, covering the whole of the south of England.

James added: ‘There has been strong interest in investment properties throughout the year, a sure sign that confidence is high in the market as demand continues to outstrip supply.

‘And we have seen a growth in local authority sales as cash-squeezed councils seek to generate revenue from property rationalisation.

‘But it remains our forte to offer a completely diverse range of lots – nothing is ever too big or small.

‘With the Office for National Statistics saying 1.3m more households will be created in the UK by 2020, but new house-building during the past five years has totalled just 729,000 homes, it is easy to see from this why the housing market is likely to remain buoyant.

‘During 2016 we will be making a big push into our new Essex heartland, with an excellent new venue at the Chelmsford City Racecourse and a large marketing campaign.’

December’s four auctions saw sales of £15m with a success rate of more than 85 per cent from a catalogue of 125 lots. Clive Emson Auctioneers, founded in 1989 in Maidstone, Kent, and now employing more than 50 people, has also helped raise about £500,000 through the firm’s auctioneers running charity auctions.

The company produces up to 25,000 catalogues for every auction.

These are posted out or available through a network of more than 800 estate agency outlets, meaning Clive Emson is supported by more estate agency offices than any other auctioneers’ practice.