East Anglia auction results for December 2021


Posted:
9:40 a.m. on December 10, 2021



The East Anglia auction house held its eighth and final auction of the year on Wednesday 8 December, selling 48 lots out of 56, an 86% success rate and raising £ 9.6million.

Robert Hurst, Chartered Surveyor and Auctioneer, said: “It has been a banner year and the December auction ended the year on a high.

“While we are convinced that interest rates may rise over the next few months, real estate remains a valuable and secure investment with returns well above interest rates. The shortage of supply of quality rental properties will also continue to encourage the purchase to let investors and maintain a stable real estate sector.

There were 294 registered bidders and 949 people watched the four-hour auction live on the auction house’s website, with buyers and sellers connected from across the country and abroad.

“There have been many highlights,” says Robert, “one of which was the sale of a four-bedroom detached house on Booseys Walk in New Buckenham. Guided from £ 400,000 to £ 450,000, various internet, proxy and telephone bidders pushed the final hammer price to £ 525,000.

“Another lot that generated a lot of interest was a partially converted detached barn located on a third of an acre off Broad Road in Worstead. It was guided to £ 90,000 to £ 110,000 and a lively auction brought the final hammer price to £ 226,000.

“The most expensive lot of the day was a development site with planning permission for 19 houses on The Green in Freethorpe which sold for £ 710,000.

“The cheapest lot of the day was a 0.26 riverside amenity plot off Ling Road in Palgrave that sold for £ 8,000, showing the wide range of prices achieved.”


12 Willow Lane, Norwich, sold for £ 367,000
– Credit: Auction House East Anglia

Sales included:

  • On behalf of a local authority, a Grade II listed four-bedroom semi-detached house in need of improvement off Willow Lane in Norwich has sold for £ 367,000.
  • A two-bedroom mid-terrace house produced at £ 625 per cm (£ 7,500 per year) on Silver Road in Norwich sold for £ 171,000.
  • An industrial rental investment producing £ 3,600 a year on Oak Street in Norwich sold for £ 99,500.
  • A four-bedroom Victorian detached house on Thunder Lane in Norwich sold for £ 525,500.
  • A two-bedroom apartment on Grove Avenue in Norwich sold for £ 146,500.
  • On behalf of a housing association, a two-bedroom semi-detached bungalow in need of modernization on St Nicholas in Bracon Ash has sold for £ 177,500.
  • On behalf of a housing association, a two-bedroom semi-detached bungalow in need of updating on Lincoln Close in Hingham has sold for £ 146,000.
  • A residential investment comprising three rented apartments producing £ 18,780 per year off Davey Place in Watton sold for £ 206,000.
  • A three bedroom detached cottage off Watton Road in Hingham sold for £ 235,000.
  • A Grade II listed three bedroom townhouse in need of updating on Beccles Road in Loddon has sold for £ 262,000.
  • A detached two-bedroom bungalow to renovate on Caistor Lane in Poringland sold for £ 275,000.
  • A three-bedroom detached house to renovate on Orchard Lane in King’s Lynn sold for £ 181,000.
  • A five-bedroom multi-occupancy semi-detached house that can produce over £ 20,000 a year on Queens Drive West in Peterborough has sold for £ 208,000.
  • A five-bedroom multi-occupancy semi-detached house that can produce £ 20,000 a year on Rock Road in Peterborough has sold for £ 173,000.
  • 1.3 acres of pasture / amenity land off North Green Road at Pulham Market sold for £ 40,000.
  • A three bedroom detached bungalow off Holmesdale Road in Brundall sold for £ 258,000.
  • A 0.9 acre amenity plot off Church Street in Bawburgh sold for £ 45,000.
  • A 0.77 acre plot of amenity land off Acle Road in Moulton St Mary sold for £ 39,000.
  • A two-bedroom terraced cottage that could produce £ 550 cfm (£ 6,600 per year) on Tut Hill in Fornham All Saints sold for £ 185,000.
  • A 0.29 acre parcel of riverside pasture off Ling Road in Palgrave sold for £ 8,500.
  • A former semi-detached three-bedroom railwayman’s cottage in need of updating on Hales Street in Tivetshall St Margaret has sold for £ 202,000.
  • A four barn complex on two acres off Church Street in Gamlingay sold for £ 453,000.
  • A Grade II listed terraced cottage in need of an update from High Street to Coltishall sold for £ 155,000.
  • A development site with planning permission for two detached bungalows off Norwich Road in Cawston sold for £ 254,000.
  • A former Methodist chapel converted into four rented apartments producing £ 19,200 a year off Beccles Road in Gorleston has sold for £ 260,000.
  • A two bedroom detached bungalow rented under a regulated rental producing £ 4,056 per year on Heath Lane in Mundesley has sold for £ 115,000.
  • A three-bedroom terraced house on Weston Road in Wisbech sold for £ 104,000.
  • A four-bedroom terrace and entrance house in need of modernization on York Road in Great Yarmouth has sold for £ 116,000. Another property on the same street sold for £ 92,000.
  • A former fisherman’s adjoining cottage on Union Place in Lowestoft sold for £ 92,000.
  • A three-bedroom terraced house to be modernized on Palgrave Road in Great Yarmouth has sold for £ 120,000.

A £ 400 pcm (£ 4,800 per year) first floor apartment for rent on St Peters Road in Great Yarmouth sold for £ 43,000.


An old chapel on Beccles Road in Gorleston which has been auctioned online for £ 260,000

47 Beccles Road, Gorleston, sold for £ 260,000
– Credit: Auction House East Anglia

“As the end of the year and the end of the year holidays approach, we would like to thank once again all of our many sellers and buyers for their support and for choosing the auction house this year”, Robert says.

“To them and to all of our other customers and clients, may we take this opportunity to wish you a Merry Christmas and a healthy New Year.

“Entries for our future auctions are always invited and our first auction of the new year is on February 9,” said Robert. “We continue to provide free assessments and remain fully committed to doing what we can to help sellers and buyers.

“If you have land or property for sale, please visit auctionshouse.co.uk / eastanglia or give us a call on 01603 505100 for free unbiased advice. “

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