Highest and lowest lots sold with Auction House East Anglia

Published:
5:45 PM July 28, 2022



The East Anglia auction house held its fifth auction of the year on Wednesday July 27, selling 53 lots and raising nearly £9million, despite rising interest rates and inflation.

“There were 189 registered bidders and over 1,000 people watched the four-and-a-half-hour auction,” said auction surveyor Robert Hurst.

“Many lots have done well regardless of the recent rise in interest rates to a 13-year high of 1.25%, the current inflation rate of 9%, a 40-year high, and that the Bank of England expects to be even higher by the fall.

“Our buyers view land, bricks and mortar as investments that outperform changes in the economy over the long term. Investors appreciate the attractive returns from our auctions which, in some cases, outpace inflation.

“The most expensive lot of the day was in the name of the executors, a four-bedroom detached bungalow near Roman Way in Felixstowe which sold for £412,000.

“The cheapest plot of land was a 1.2 acre plot of hobby land off Malthouse Lane in Ludham which sold for £26,000, showing there was something for every budget.”


14 Beach Road, Caister-on-Sea, sold for £120,000
– Credit: East Anglia auction house

A mix of other lots, including residential, commercial and land, went under the hammer. Some of the sales included:

  • A three-bedroom semi-detached house on Kimberley Street in Norwich in need of improvements has sold for £197,500.
  • A terraced house and two rented flats producing £11,640 a year on Drayton Road in Norwich sold for £291,000.
  • A modern one-bedroom townhouse, producing £530 cfm (£6,360 a year) on Catton Grove Road in Norwich, sold for £121,000.
  • A three-bedroom, mid-terrace house, producing £725 cfm (£8,700 a year) on Grant Street in Norwich, sold for £175,500.
  • A rental shop producing £10,200 a year on Sprowston Road in Norwich sold for £102,000.
  • A detached commercial property including a let optician and vacant offices on Cawston Road in Aylsham sold for £162,000.
  • A four-bedroom detached house to refresh on Cotman Road in Norwich has sold for £358,000.
  • A three-bedroom semi-detached house in need of modernization on Aylsham Road in Norwich has sold for £238,500.
  • A one-bedroom terraced house producing £475 pcm (£5,700 a year) on Hockham Street in Kings Lynn sold for £69,000.
  • A detached one-bedroom cottage on the New Roman Bank in Terrington St Clement has sold for £128,000.
  • A detached four-bedroom bungalow on Rectory Lane in Watlington has sold for £220,000.
  • A detached four-bedroom cottage in need of modernization on Lyng Road in Sparham has sold for £234,000.
  • A detached three-bedroom barn conversion near The Street in Swannington sold for £379,000.
  • 0.18 acre of land in Reydon Business Park with planning permission for commercial development sold for £125,000.
  • A rented terraced house producing £550 pcm (£6.60 pa) on Chevallier Street in Ipswich sold for £124,000.
  • A terraced cottage in need of improvements on Loraine Way in Bramford has sold for £161,000.
  • On behalf of a housing association, a detached two-bedroom bungalow of non-standard construction off Folgate Lane in Walpole St Andrew has sold for £76,000. Another similar property on the same street sold for £85,000.
  • 3.4 acres of amenity land adjacent to Roughton Common near Thorpe Market Road sold for £41,000.

Pier Apartment, Cliff House, at 23 Overstrand Road, Cromer, sold for £190,000 at online property auction

Pier Apartment, Cliff House, at 23 Overstrand Road, Cromer, sold for £190,000
– Credit: East Anglia auction house

  • A two-bedroom top-floor apartment with off-road parking on Overstrand Road in Cromer has sold for £190,000.
  • A terraced cottage in need of complete renovation off The Loke in Winterton on Sea has sold for £161,000.
  • On behalf of the executors, a detached two-bedroom bungalow near Vale Road beach in Mundesley has sold for £260,000.
  • A thatched terraced cottage in need of full restoration on Beach Road in Caister on Sea sold for £120,000.
  • On behalf of a business, a three-bedroom semi-detached house for renovation near Sparrow Close in Bradwell has sold for £189,000.
  • A three-bedroom semi-detached house for renovation on Ramsey Road in Ramsey has sold for £176,000.
  • A first-floor one-bedroom apartment on Park Road in Peterborough has sold for £55,000.
  • On behalf of mortgagees, a second-floor one-bedroom apartment on Welham Street in Grantham has sold for £70,000.
  • A fire-damaged two-bedroom terraced house in need of complete renovation on Southtown Road in Great Yarmouth has sold for £50,000.
  • A residential investment opportunity comprising three apartments producing £13,560 a year off South Quay in Great Yarmouth has sold for £120,000.

22 Prince of Wales Road, Norwich, which sold for £356,000 at an online property auction with Auction House East Anglia

22 Prince of Wales Road, Norwich, sold for £356,000
– Credit: East Anglia auction house

  • A four-bedroom terraced house to update on Victoria Road in Great Yarmouth has sold for £89,000.
  • A licensed multiple occupancy (HMO) house produced £15,600 a year on Rodney Road in Great Yarmouth and sold for £140,000.
  • A two-bedroom mid-terrace house in need of updating on Camden Road in Great Yarmouth has sold for £80,000.
  • A three-bedroom terraced house in need of improvements on Lancaster Road in Great Yarmouth has sold for £89,000.
  • A three-bedroom detached bungalow in need of an update on Nightingale Close in Scratby has sold for £228,000.
  • A rented retail space on Prince of Wales Road in Norwich has sold for £172,000. A nearby vacant retail space on the same street sold for £356,000.

Auction house East Anglia’s next auction will take place on Wednesday September 14 with a closing date for entries in mid-August.

If you have land or property to sell call the auction experts on 01603 505100 for free impartial advice or contact the team via the website at auctionhouse.co.uk/eastanglia.

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