Garages to go under hammer

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NINE lock-up garages and six parking spaces in Portsmouth are to go under the auctioneer’s hammer next month.

With a freehold guide price of £50,000 to £55,000, the single lot off Hillsley Road is among 137 lots being sold by land and property auctioneers Clive Emson.

Rob Marchant, auctioneer, said: ‘We always have strong bidding interest in lock-up garages – they get snapped up by investors looking for modest income streams.

‘All of the nine garages, in a gated area, are let on short-term licences, generating £7,020 per annum.’

Nearly 2.5 acres of grazing land, on the south side of Victoria Road on Hayling Island, is up for sale with a freehold guide price of £140,000 to £150,000.

Rob said: ‘The site is considered to have development potential, subject to planning.’

The next auction will take place on May 5 at The Ageas Bowl.