A new record has been set for the highest price achieved for a property outside of London in an online auction.
The freehold plot of 14.36 acres in Grays, Essex, sold for £5.4m in Clive Emson’s March sales across southern England and Wales.
The Kerneos site in London Road is currently let at £40,000 per annum. It was offered on behalf of Thurrock Council (lot 22).
James Emson, managing director, said: “We saw phenomenal bidding for the site and, by the time the last bid had been placed we had received a total of 113 bids from six different bidders.
“One of the big attractions is the access road which runs through the site, with the final bid of £5,402,000 made by a private property investment company.”
Essential Information Group confirmed the record.
The auction also saw the sale of a commercial investment in Grays for the local authority (lot 115). Let at £14,250 per annum, it was sold for £644,000.
The March auction covering southern England from Essex to Cornwall, and Wales, offered 132 lots and raised £26m with a success rate close to 80%.
Other highlights of the sale included:
Lot 31, land with views over the Atlantic and Portreath village, on the northern Cornish coastline, fetched £56,000, which was £11,000 above the lower end of the guide price
Lot 72, a Methodist church at Woodacott, Holsworthy, east of Bude in Devon, was offered on the instruction of trustees. It sold for £100,750, which was £80,750 above estimate, following 75 bids
Lot 114, a VIP House in St Leonards, East Sussex, was bought for £750,000. The 34,444 sq ft building comprising offices, workshops and studio spaces is let at £100,488.78 per annum, a 13.4% yield
Lot 93, a five-bedroom HMO on the Isle of Portland, Dorset, let at £25,956 per annum, sold for £189,000, a gross rental yield of 13.73%
Lot 95, an HMO in Brighton with six letting rooms, sold for £500,000, a gross rental yield of 8.11%
Lot 17, a bank in Warminster, Wiltshire, sold for £441,000. The Grade II-listed Victorian building is let to Lloyds Bank at £28,000 per annum, a gross yield of 6.35%.
A new record has been set for the highest price achieved for a property outside of London in an online auction.
The freehold plot of 14.36 acres in Grays, Essex, sold for £5.4m in Clive Emson’s March sales across southern England and Wales.
The Kerneos site in London Road is currently let at £40,000 per annum. It was offered on behalf of Thurrock Council (lot 22).
James Emson, managing director, said: “We saw phenomenal bidding for the site and, by the time the last bid had been placed we had received a total of 113 bids from six different bidders.
“One of the big attractions is the access road which runs through the site, with the final bid of £5,402,000 made by a private property investment company.”
Essential Information Group confirmed the record.
The auction also saw the sale of a commercial investment in Grays for the local authority (lot 115). Let at £14,250 per annum, it was sold for £644,000.
The March auction covering southern England from Essex to Cornwall, and Wales, offered 132 lots and raised £26m with a success rate close to 80%.
Other highlights of the sale included:
Lot 31, land with views over the Atlantic and Portreath village, on the northern Cornish coastline, fetched £56,000, which was £11,000 above the lower end of the guide price
Lot 72, a Methodist church at Woodacott, Holsworthy, east of Bude in Devon, was offered on the instruction of trustees. It sold for £100,750, which was £80,750 above estimate, following 75 bids
Lot 114, a VIP House in St Leonards, East Sussex, was bought for £750,000. The 34,444 sq ft building comprising offices, workshops and studio spaces is let at £100,488.78 per annum, a 13.4% yield
Lot 93, a five-bedroom HMO on the Isle of Portland, Dorset, let at £25,956 per annum, sold for £189,000, a gross rental yield of 13.73%
Lot 95, an HMO in Brighton with six letting rooms, sold for £500,000, a gross rental yield of 8.11%
Lot 17, a bank in Warminster, Wiltshire, sold for £441,000. The Grade II-listed Victorian building is let to Lloyds Bank at £28,000 per annum, a gross yield of 6.35%.
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Photo: Clive Emson
