A property in a cemetry sells for £28,000!!

It is said that the Auction room is the true measure of what is happening in the property market so the message from the recent Austin Gray Auction held on the 25th of September in the Banqueting Suite of Hove Town Hall, Hove is that there are still plenty of buyers but prices are stabilizing. The results for certain lots were well above expectations and the overall total of over £2.7M with an 87% success rate was very impressive.

In 30 years of holding auctions this was one of the highest attendances the auctioneers had experienced with queues of buyers waiting to register and for the first time ever they ran out of bidder paddles. A diverse selection of residential and commercial properties from all over Sussex was offered including this unique brick built former crypt in a Cemetery. Planning permission allowed for this building to be used as an office, artist’s studio and /or artisan use such as saddle maker, picture framer or furniture restorer. The property located in the beautiful West Sussex town of Arundel sold for £28,000.

Internally, the property has just been decorated and tiled and there is a small kitchen area with sink and a separate chemical WC. There is also the potential to create a mezzanine floor/ storage area.

The company who are one the leading auctioneers in Sussex and the South of England and the agents’ choice for large residential investments are currently looking for properties suitable for their forthcoming auctions. These can include all types of property from lighthouses to public conveniences, houseboats to penthouses and everything in between. Obviously the majority of lots in an auction are flats, houses and commercial properties, so the weird and wonderful is always most welcome.

Nick Muston, Head of Austin Gray Auctions said, “Having held this event over many years, we were amazed and extremely pleased with the turnout and the final result. It also threw up a completely different crop of buyers from all walks of life. We are now working towards the next auction which will be on the 20th of November in Hove.”

You can contact Nick Muston from Austin Gray Auction for a valuation. For more information on the Auctions please call 01273 20 19 80 or visit www.austingray.co.uk