As the gavel comes down on 2018, we’ve been reflecting on what has been another busy year for Auction House Sussex. Here are just a few of our auction highlights from the year and a hint at the diversity of lots within our portfolio if you’ve been considering exploring the opportunities at auction in the new year.
15 Mons Avenue, Bognor Regis
Sold in our 15th February auction for £182,000 from a guide price of £160,000+, 15 Mons Avenue was a lot that offered plenty of potential. Comprising three bedrooms, off-road parking, a large garden and the possibilities of future expansion, this generous semi-detached home made an ideal project for bidders looking to create the ultimate family home.
The property was sold on behalf of asset managers.
Flat 4, 8 Palmeira Square, Hove
Within the same auction, a rarely available property within one of Brighton and Hove’s finest seafront Squares, a large two bedroom flat in Palmeria Square sold at auction for £365,000 from a guide price of £275,000 – £300,000. With its enviously close proximity to a parade of independent shops, cafes and restaurants, excellent transport links and stunning views across the Square’s gardens, the third floor flat with 125-year lease came at an absolute bargain for the lucky buyer.
12 Franklin Road, Brighton
12 Franklin Road provided the opportunity for a freehold residential investment after the property was auctioned on behalf of the Executors. Comprising a three-storey maisonette with four bedrooms and lower ground one-bedroom patio flat, the property benefits from a desirable location close to the up-and-coming neighbourhood of Lewes Road, having seen much rejuvenation in recent years and providing good transport links to both the universities and city centre.
The property sold at auction for £351,000 from a guide price of £300,000+.
13 Wilbury Grove, Hove
May’s auction saw the sale of a very exciting property in Wilbury Grove with a stunning and much sought-after Victorian mews house. In need of total refurbishment and with several options to consider for conversion and renovation, the substantial building made a dream investment opportunity within the well-connected Hove area.
Despite no internal views due to the condition of the building, it sold at auction on 24th May for £500,000.
34 Oriental Place, Brighton
Forming part of a period terrace dating to 1825, 34 Oriental Place comprised six self-contained and eight non-self-contained studio flats in an HMO-licensed building. Following a recent period of restoration to fire alarm and electrical systems, as well as redecorated or refurbished living or communal areas, the CCTV-monitored and Wi-Fi-managed property made a fantastic residential investment for professional landlords, with the potential to return £114,000pa if fully let.
The property sold at auction on 5th July for £1,545,000 from a guide price of £1,300,000 – £1,400,000.
10 Valencay, Newhaven
In September, we received a late entry to the auction catalogue and, with only 10 days of marketing, a two-bedroom balcony flat in Valencay, Newhaven sold at auction for £162,000 against a guide price of £125-140,000.
49a Ventnor Villas, Hove
Occupying the entire lower ground floor of a Victorian bay fronted building in the sought-after area near Hove’s Church Road, a spacious one-bedroom property with share of freehold sold in November for £280,000. With scope to re-configure the flat and create a second bedroom, subject to obtaining the necessary permissions, the property provided an excellent residential investment opportunity.
22 Fisher Street, Lewes
Intertwined amongst the centre of traditional market town, Lewes, December’s auction saw an interesting investment opportunity with 22 Fisher Street. A 19th century terraced freehold mixed-use property comprising a three-bedroom maisonette and retail space over four floors, the property had much to offer for potential investors or businessowners looking for a new location. The property sold on 6th December for £308,0000 from a guide price of £280,000+.
We’ve witnessed such an exciting year of auctions and fantastic portfolio of lots across 2018, that we can’t wait to see what 2019 brings. Are you in the market for a new residential investment in 2019? Maybe you’re keen to buy, but haven’t found the right opportunity yet? Get in touch with our experienced auction team and we can provide you with the advice you need for a confident purchase at auction.