Property auction: Gosport garages fetch £62,000 - more than double asking price at auction

GARAGES in Portsmouth have sold for more than double their guide price at auction.
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Four garages at Elson Road in Gosport have been bought for a whopping £62,000 after an initial asking price of £30,000.

While a garage on the south-east side of St Johns Road in Cosham fetched £32,600 at auction, also in excess of guide price of £15,000 to £18,000 .

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These properties were among 118 lots listed across southern England Clive Emson Auctioneers, the land and property auctioneers covering southern England, for the firm’s July auction which ended yesterday (July 28).

The garage at St Johns Road which sold at auction. Clive EmsonThe garage at St Johns Road which sold at auction. Clive Emson
The garage at St Johns Road which sold at auction. Clive Emson

Mike Marchant, senior auction appraiser, said: ‘There was strong demand for these lock-up garages.

‘The property in Cosham is situated in a popular and sought-after residential area with potential for personal use by the new owner or for letting.

‘Meanwhile, the four lock-up garages in Gosport have not been in regular use for more than 30 years.

A Hayling Island flat has sold at auction for more than double the asking price.A Hayling Island flat has sold at auction for more than double the asking price.
A Hayling Island flat has sold at auction for more than double the asking price.
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‘They require significant works or replacement, although the new owner may have an alternative scheme in mind, subject to consents, especially as the freehold title includes an apron of land to the front of the garages and an access strip along the side of the buildings.’

A one-bedroom ground floor flat located at Ward Court, 65 Sea Front in Hayling Island also went under the hammer at the auction on a 199-year lease from 1968.

It fetched £95,000 at auction.

Clive Emson Auctioneers holds auctions eight times a year, with offices in Essex, Kent, Sussex, Hampshire and the West Country.

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