Derelict house in Fareham sells for £282,000 after bidding war - £112,000 more than the guide price

A DERELICT house in Fareham has sold in an auction bidding war for £282,000.

The four-bedroom freehold property, on a quarter-acre plot at 3 Segensworth Road, went for £112,000 more than the guide price of £170,000-plus.

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Lot 132- 3 Segensworth Road, Fareham - auction with Clive Emson on May 5, 2021

Rob Marchant, Clive Emson’s Hampshire auctioneer, and a member of Portsmouth Property Association, said: ‘We anticipated keen interest in the house because of its location and potential, which resulted in a bidding war. A total of 80 bids were made before the final bid of £282,000.’

A gravel pit copse, next to Wickham Golf Course and a row of detached houses, sold for nearly twice its guide price. The 0.69-acre freehold plot at Titchfield Lane, Wickham, near Fareham fetched £75,000, which was £35,000 above estimate.

A leasehold ground floor flat, with allocated parking and a lock-up store, at 1 Everell Court, Clarendon Road, Southsea, went for £96,000, which was £16,000 above estimate. It is currently let at £7,140 a year.

A two-bedroom flat on the first floor at 125A High Street, Gosport, let at £7,200 a year, sold prior to auction. It was guided leasehold at £85,000 to £90,000.

Myrtle Cottage at 35 Church Road, Steep, near Petersfield, built in 1887 and guided freehold at £360,000 to £390,000, also sold. Rob said: ‘The pre-auction offer on Myrtle Cottage was above guide.’

A two-bedroom leasehold flat at 22A Claire Gardens, Clanfield, Waterlooville, let at £7,728 a year, went for £125,000.

A mixed commercial and residential investment at 5 High Street, Fareham, which was guided freehold at £420,000 to £450,000 and was previously let at £34,200 a year is re-available

Clive Emson’s next auction ends on Wednesday, June 16, with the catalogue available from Saturday, May 29.

A message from the Editor, Mark Waldron

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