Lots generate £954,000 as properties wow bidders

Eugene Scanderfield with landlady of the Hayling Billy  Mandy Mather Picture Ian Hargreaves  (171085-1)

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Nesbits are the only firm of estate agents who sell by public auction through a Portsmouth-based saleroom, with emphasis on the city and immediate surrounds.

Property auctions are popular with investors, builders and developers, but increasingly also with private individuals.

Another successful sale was held on September 24 at The Royal Marines Museum in Southsea.

Properties ranged from a garage in Portchester which sold for £14,000, to a unique one-bedroom flat with garage and garden in Old Portsmouth which generated considerable competitive bidding.

The guide for this Lot was £140,000-£150,000 but it eventually sold for £190,000.

Seven Lots were sold and, in total, generated £954,000.

The next sale is on November 19 starting at 11am.

Entries already listed range from a shop in Southsea with planning consent to convert into two flats and guided between £180,000-£190,000, up to a large, detached property off the Seafront which is currently converted into four flats with a garage and extra parking, guided between £750,000-£780,000.