£7m sale shows strong demand for property
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.
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