Four flats at a converted house in 55 Waverley Road, Southsea, went under the auctioneer’s hammer for £160,000.
The four-storey freehold property, currently let at £6,600 per annum, with one property vacant, was among 31 lots being sold by regional land and property auctioneers Clive Emson
Boarded-up retail premises at 7-9 and 7A Stoke Road, Gosport, went for £298,000, which was £150,000 above estimate.
Once demolished there is planning permission for four two-bedroom houses, a one-bedroom house and a flat.
Auctioneer Rob Marchant said: There was keen interest because of the planning permission and potential, resulting in a bidding war which saw the gavel come down on a final bid which was £150,000 above estimate.
‘The premises were last used as a plumbing and bathroom showroom, with residential accommodation above. The planning consent will breathe new life into the site, which is a short walk from the ferry to Portsmouth for commuting, shopping and leisure. Appetite for bricks and mortar remains undiminished.’
Currently let at £12,300 per annum, a ground floor shop at 97-99 Bury Road, Gosport, sold freehold for £135,000, which was £30,000 above estimate. The property, which has three flats above sold on long leases, includes ground rents from them.
A two-bedroom flat at Bury House, Crescent Road, Fareham, sold leasehold for £75,000.
Sold prior to auction was 4.5 acres of grazing land, with a static caravan and former stable block, at Jodies Acres, Maybush Lane, Soberton. The site was guided freehold at £160-180,000.
Let at £10,800 per annum, a mid-terrace retail outlet on the ground floor at 5 North Street, Havant, went for £135,000 freehold, £45,000 above estimate. Ground rents from four flats sold on long leases are included.
Starting at 11am, the auction takes place at the same venue, the Ageas Bowl, on Friday, September 18.
July’s round of five Clive Emson auctions across southern England, of which the Ageas Bowl was one, raised more than £14m, with a success rate of more than 70 per cent.
There were 145 lots in total going under the hammer.