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Finkelgate land sells for five times guide price in auction

PUBLISHED: 09:26 26 March 2016 | UPDATED: 09:26 26 March 2016

The Finklegate, left, and Queens Road junction. Picture: DENISE BRADLEY

The Finklegate, left, and Queens Road junction. Picture: DENISE BRADLEY

Archant

A small parcel of land on Finkelgate in Norwich sold under the hammer for more than five times the original guide price at auction this week.

However, two intriguing properties; Scarning Old Rectory and a 151 Yarmouth Road, Thorpe St Andrew did not sell.

Trevor Blythe, from Brown & Co, said: “Our first auction was well attended. A parcel of land south of the city centre where a house once stood but was demolished due to significant subsidence sold for over five times the original guide price.

“Another intriguing lot was a small store close to Cromer town centre which generated huge response in the run up to the sale and sold for over three times the original estimate, which proves if there is something quirky then it will always have broad appeal and auction is in most instances the best way to determine exact value.

“City centre terraces continue to be ever popular and a north city example requiring updating sold for over £15,000 above the top end of the guide price. Unusually, a hall entrance property just off Unthank Road failed to reach its reserve and is, at the time of going to press, still available.

“The attendance at the auction along with strong bidding on some lots proved that auction continues to provide a clean and sometimes profitable way to dispose of surplus property and we here at Brown & Co will be pleased to discuss the disposal of your property by auction.”


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