Online auction raises almost £10m - but which properties sold?
- Credit: Auction House East Anglia
Auction House East Anglia held its eighth and final auction of the year on Wednesday, December 8, selling 48 out 56 lots giving an 86% success rate, and raising £9.6 million.
Robert Hurst, chartered surveyor and auctioneer, said: “It has been a record-breaking year and the December auction has finished the year on a high.
"Although it is our belief that interest rates may drift up over the forthcoming months, property still remains a valuable and secure investment with yields well above interest rates. The shortage of supply of quality rental property will also continue to encourage buy to let investors and maintain a stable property sector.”
There were 294 registered bidders and 949 people watched the four hour auction live on the Auction House website, with buyers and sellers connecting from all over the country and abroad.
“There were many highlights,” says Robert, “one of which was the sale of a four-bedroom detached house on Booseys Walk in New Buckenham. Guided £400,000 to £450,000, various internet, proxy and telephone bidders pushed the final hammer price to £525,000.
“Another lot that created plenty of interest was a part converted detached barn set in a third of an acre off Broad Road in Worstead. It was guided at £90,000 to £110,000 and spirited bidding took the final hammer price to £226,000.
“The highest priced lot of the day was a development site with planning permission for 19 houses on The Green in Freethorpe which sold for £710,000.
“The lowest price lot of the day was a 0.26 parcel of riverside amenity land off Ling Road in Palgrave which sold for £8,000, showing the wide range of prices achieved.”
The sales included:
- On behalf of a local authority, a Grade II listed four-bedroom semi-detached house requiring improvement off Willow Lane in Norwich sold for £367,000.
- A two-bedroom mid-terrace house let producing £625 pcm (£7,500pa) on Silver Road in Norwich sold for £171,000.
- An industrial ground rent investment producing £3,600pa on Oak Street in Norwich sold for £99,500.
- A four-bedroom Victorian detached house on Thunder Lane in Norwich sold for £525,500.
- A two-bedroom flat on Grove Avenue in Norwich sold for £146,500.
- On behalf of a housing association, a two-bedroom semi-detached bungalow requiring modernisation on St Nicholas’s in Bracon Ash sold for £177,500.
- On behalf of a housing association a two-bedroom semi-detached bungalow requiring updating on Lincoln Close in Hingham sold for £146,000.
- A residential investment comprising three let flats producing £18,780pa off Davey Place in Watton sold for £206,000.
- A three-bedroom detached cottage off Watton Road in Hingham sold for £235,000.
- A Grade II listed three-bedroom town house requiring updating on Beccles Road in Loddon sold for £262,000.
- A two-bedroom detached bungalow in need of renovation on Caistor Lane in Poringland sold for £275,000.
- A three-bedroom detached house in need of renovation on Orchard Lane in King’s Lynn sold for £181,000.
- A five-bedroom semi-detached house of multiple occupation let producing over £20,000pa on Queens Drive West in Peterborough sold for £208,000.
- A five-bedroom semi-detached house of multiple occupation let producing £20,000pa on Rock Road in Peterborough sold for £173,000.
- 1.3 acres of grazing/amenity land off North Green Road in Pulham Market sold for £40,000.
- A three-bedroom detached bungalow off Holmesdale Road in Brundall sold for £258,000.
- A 0.9 acre plot of amenity land off Church Street in Bawburgh sold for £45,000.
- A 0.77 acre parcel of amenity land off Acle Road in Moulton St Mary sold for £39,000.
- A two-bedroom terraced cottage let producing £550 pcm (£6,600pa) on Tut Hill in Fornham All Saints sold for £185,000.
- A 0.29 acre parcel of riverside grazing land off Ling Road in Palgrave sold for £8,500.
- A period three-bedroom semi-detached former railway workers cottage requiring updating off Hales Street in Tivetshall St Margaret sold for £202,000.
- A complex of four barns set in two acres off Church Street in Gamlingay sold for £453,000.
- A Grade II listed terraced cottage requiring updating off the High Street in Coltishall sold for £155,000.
- A development site with planning permission for two detached bungalows off Norwich Road in Cawston sold for £254,000.
- A former Methodist chapel converted into four flats let producing £19,200pa off Beccles Road in Gorleston sold for £260,000.
- A two-bedroom detached bungalow let on a regulated tenancy producing £4,056pa on Heath Lane in Mundesley sold for £115,000.
- A three-bedroom end terrace house on Weston Road in Wisbech sold for £104,000.
- A four-bedroom hall entrance terrace house requiring modernisation on York Road in Great Yarmouth sold for £116,000. Another property on the same street sold for £92,000.
- A former fisherman’s terraced cottage on Union Place in Lowestoft sold for £92,000.
- A mid-terraced three-bedroom house in need of modernisation on Palgrave Road in Great Yarmouth sold for £120,000.
A first-floor flat let producing £400 pcm (£4,800pa) on St Peters Road in Great Yarmouth sold for £43,000.
“As we move towards the year end and the festive season approaches, we would once again like to thank all our many sellers and buyers for their support and for choosing Auction House this year,” says Robert.
“To them and to all our other clients and customers, may we take this early opportunity to wish you a merry Christmas and a healthy New Year.
“Entries into our future auctions are always invited and our first auction of the new year is on February 9,” said Robert. “We continue to provide free appraisals and remain fully committed to doing what we can to help sellers and buyers.
“If you have land or property that needs to be sold, please visit auctionhouse.co.uk/eastanglia or call us on 01603 505100 for free impartial advice.”
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