Investment properties prove popular at William H Brown’s auction
PUBLISHED: 16:59 13 April 2018 | UPDATED: 09:55 14 April 2018
Simon Arnes, William H Brown’s managing director and auctioneer, reports on his firm’s sale held at Barnham Broom yesterday.
On a cold and misty morning we had a good attendance and an interesting variety of lots across the county of Norfolk and beyond.
Below is a selection of some of the properties sold.
The sale got underway with lot 1, 17 Nelson Road South, Great Yarmouth. An eight bedroom bay fronted investment property producing a good return. The guide here started at £100,000 and there was strong interest, including phone bidders, with the gavel eventually falling at £156,000. This property demonstrates the strong investment interest that’s very active in today’s market.
Lot 2, 2 Edgeworth Road, Norwich. A three bed semi-detached house. The guide here started at £170,000. There had been a lot of interest in this property with lots of strong competition in the room. The gavel eventually fell at £261,000.
Lot 3, a small parcel of land, Norwich Road, Kirstead. Extending to approximately 3.2 acres with the guide starting at £10,000, the gavel fell at £19,000.
Lot 8, 144 Hillside Road West, Bungay. A detached three bedroom bungalow in a good spot. There had been good interest in this property with the guide starting at £150,000. The gavel eventually fell at £181,000.
Lot 11, ‘Spinnakers’ Beccles Road, St Olaves, Great Yarmouth. A five bedroom elevated detached house with its own mooring. An interesting lot here with some outstanding views. The gavel here fell at £184,000.
Lot 32, 43 Cunningham Road, Norwich. A three bedroom semi-detached house. The guide started at £160,000. A well located property which produced strong interest. The gavel fell at £187,000.
Lot 33, 79 Livingstone Street, Norwich. A two bedroom mid-terraced house. The guide started at £120,000 and we had both phone and proxy bidders, together with a number of interested parties in the room. After strong competition, the gavel here fell at £157,750.
Lot 34, 27 Station Road, Beccles. A bay fronted mid-terraced house with the guide starting at £100,000. There were a lot of people interested in this property and strong competition in the room. The eventual successful bidder saw the gavel fall at £167,000.
Lot 35 was our last lot of the day, 127 Lincoln Street, Norwich. A three bedroom mid-terraced house in a good location, providing investment potential and also the opportunity of a nice family home. The guide here started at £140,000 and we knew there was going to be strong demand and competition in the room. There were multiple bids with the eventual successful buyer seeing the gavel fall at £191,000.
Above is just a selection of the properties sold.
There have been mixed reports about the strength of the property market. The results demonstrate, once again, the strong value buyers place on the value of property, and quite a few of our lots sold were investment properties.
Victoria Reek, our Auctions Partner, and her team in Norwich would be delighted to carry out an auction appraisal for any vendor interested in selling. This combined with our extensive network of branches, gives us unrivalled coverage across East Anglia.
Please contact the Auction Team on 01603 598975 or by email firstname.lastname@example.org