£7m sale shows strong de­mand for prop­erty

Kentish Gazette Canterbury & District - East Kent Property - - News/new Homes -

AROUND £7.3m was raised in sales at the lat­est Clive Em­son auc­tion. Bid­ding was brisk at the re­gional land and prop­erty auc­tion­eer’s Kent and South East Lon­don sale. Auc­tion­eer Kevin Gil­bert said: “The ap­petite for prop­erty was es­pe­cially strong, with vir­tu­ally all of the houses listed in our cat­a­logue snapped up by in­vestors and owne­roc­cu­piers. “With record low in­ter­est rates, homes bought to rent out are prov­ing far more at­trac­tive in gen­er­at­ing de­cent re­turns com­pared to cash on de­posit. “One prop­erty which went un­der the ham­mer is giv­ing the yield equiv­a­lent of nearly 10% gross – if you got that kind of re­turn on cash there would be a stam­pede for the prod­uct.” Un­usual prop­er­ties which sold at the auc­tion in­cluded a 15th cen­tury home built in Eden­bridge by the Lord Mayor of Lon­don. Tay­lour House, in the High Street, dates from around 1468 and af­ter be­ing a home was run as a pub for more than 250 years. It sold for £180,000.

High­lights

The one-time Hawkhurst Methodist Church at High­gate Hill, Cran­brook, fetched £165,000 and for­mer St John Am­bu­lance premises in Bal­moral Road, Gilling­ham, went for £60,000. Also in Gilling­ham, free­hold high­lights in­cluded a twobed­room house in Fox Street, let at £6,000 a year, for £85,000; a mid-ter­raced house in Broad­way, let at £6,300 a year, for £92,000 and a va­cant three-bed­room prop­erty in Maple Av­enue which went for £110,000. In Chatham, a four-storey prop­erty with seven of­fices in the High Street sold for £100,000, a va­cant Vic­to­rian ter­race in Her­man Av­enue for £92,000 and a three-bed­room house in Lu­ton Road for £80,000. A house in Cavendish Road, Rochester, let to students at £18,923 a year, fetched £181,000. A two-bed­room flat in Bells Road, Hoo St Wer­burgh, went for £96,000 lease­hold. The auc­tion took place at the Kent Show­ground, Detling, with the next one at the same venue from 11am on Mon­day, Oc­to­ber 29.

Top, the fromer Hawkhurst Methodist Church; left, Tay­lour House; right, the for­mer St John Am­bu­lance premises

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