A record-breaking year & auction highlights with Austin Gray Auctions
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Austin Gray’s auction department also sell a number of properties and development sites by private treaty and 2013 has been a record-breaking year for that side of their business. Highlights have included a number of substantial investment properties including Gladstone Court, Brighton at £1.75m, 7-18 Westcliff Terrace Mansions, Margate at £1.2m, 6 York Avenue £700,000 and many more currently under offer.
Another highlight was a semi-detached house in Montpelier Villas which was in need of refurbishment. Regarded by many as one of the most desirable roads in the city it understandably attracted considerable interest and sold well in excess of the asking price of £1.25m.
The auctioneers are currently offering an interesting development site of five houses in Rowan Avenue, Hove which is to be sold on behalf of the Law of Property Act Receiver, and is to be sold by formal tender.
On the auction side with one more sale to come, the department have offered more lots than they did in 2012 and at a higher selling rate (currently 81%). The sold total for the year also eclipses the figure achieved last year.
With the end of the year rapidly approaching the last auction will be on 29th November.
It has an interesting mix of residential and commercial investments and development opportunities. Perhaps of greatest interest to builders and owner occupiers is 50 Withdean Road, Brighton. This is a two-bedroom bungalow that sits centrally in a good size plot in a prestigious location. Planning permission has just been granted (BH2013/02417) to create a 3,300 sq.ft five bedroom three bathroom contemporary house. With a guide price of £400,000+ this is expected to be a popular lot.
Looking ahead to 2014 the first auction will be in February and the auctioneers are happy to provide free market appraisals. Suitable lots include residential and commercial investments, shops, land with or without planning, flats with short leases, probate sales, garages, warehouses, vacant houses and flats, and property for refurbishment.
To make an appointment contact Nick Muston FRICS and James Hance on 01273 201980.
Austin Gray Auctions, Investments, Commercial and Development
37 Vernon Terrace, Brighton BN1 1UJ
01273 201980
www.austingray.co.uk
