South Coast sentiment improves for Emson

Market sentiment was rosier at Clive Emson’s South Coast sales last week, which raised a combined total of £13m.

The three sales, in Kent, Hampshire and Sussex on 3, 4 and 5 November, sold a total of 106 out of 153 properties, reflecting a 75% success rate.

Auctioneer Clive Emson said that demand for investment stock, fresh-to-market local authority and single site development lots was robust, but investor appetite for larger development sites was subdued.

He added: “People are still using their own money and are much more cautious than if using borrowed money. Lending is still a problem. The banks tell me they are lending, but it’s lip service when you see their criteria and the sort of deposit they require.”

Key performers included Enterprise House, a former school and community centre in Dartford, Kent, made £520,000  from a guide of £380,000-£400,000. It was sold on behalf of Dartford borough council.

A portfolio of six advertising hoardings in Rochester, Chatham and Gillingham, all Kent, which were guided at £10,000-£15,000 each, made between £25,000 and £35,000, selling on verbal agreements with no security of tenure.

A cottage in Netley Abbey, Southampton, Hampshire, made £286,000 off its £150,000-plus guide, on behalf of the local council.

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