Online property auction attracts overseas bids and raises over £9m

There were 185 registered bidders and hundreds of people watched the four hour auction, including a seller from Sydney, Australia and a buyer bidding from The Canary Islands.

Robert Hurst, auction surveyor, said: “With our auction taking place during the period of national mourning it was poignant that the address of one of the lots was Queen Elizabeth Court, Kings Road, Great Yarmouth.

“We are observing the Bank Holiday and closing our offices on Monday, September 19, out of respect for the Queen and to allow our team the opportunity to mark her incredible life and service on the day of the funeral.

Redacres, The Street, Lamas, sold for £460,000 (Image: Auction House East Anglia)

“We are finding more and more private landlords selling by auction in search of a quick and certain sale, as a series of punishing tax changes in recent years is now compounded by increasing interest rates and the impending threat of costly energy efficiency upgrades, with an EPC rating of C or above required by 2025.

“The cost of re-mortgaging has risen rapidly this year, serving as a stark wake up call to smaller landlords more reliant on debt. Professional portfolio landlords are still buying as they have bigger cash reserves and so are immune from the interest rate rises.

“The highest priced lot of the day was a three-bedroom detached bungalow set in over half an acre on Summer Drive in Hoveton which sold for £520,000. The lowest priced lot was a derelict barn on Church Road in Redlingfield, which sold for £54,000.”

Station House, The Causeway, Stow Bridge, sold for £148,000 (Image: Auction House East Anglia)

A mixture of lots including residential, commercial and land went under the hammer and some of the sales include:

• An over the passage three- bedroom terrace house requiring updating on Newmarket Street in Norwich sold for £237,000.
• A vacant north city terrace house requiring updating and redecoration on Churchill Road in Norwich sold for £188,000.
• A three-bedroom semi-detached house requiring updating on Bluebell Road in North Walsham sold for £167,000.
• A tenanted mid-terraced property producing £550 pcm (£6,600 pa) on Cromer Road in North Walsham sold for £100,000.
• 8.2 acres off Worlds End Lane in Reepham sold for £87,000, equating to nearly £11,000 per acre.
• 1.2 acres of amenity land off Short Lane in Happisburgh sold for £85,000.
• A three-bedroom country cottage with large garden and off-road parking requiring improvement off Mill Road in Sutton sold for £211,000.
• A part-converted barn on Ferrygate Lane off Staithe Road in Martham sold for £340,000.
• A detached country cottage with seven acres of gardens, pasture and woodland on The Street in Lamas sold for £480,000.
• A detached house converted into four one-bedroom flats and let, producing £27,360 pa on Huntley Grove in Peterborough sold for £407,500.
• A three-bedroom detached bungalow in need of modernisation on Mountfield Avenue in Hellesdon sold for £200,000.
• A three-storey town centre commercial property extending to 2,271 sq ft on Regent Street in Great Yarmouth sold for £138,500. Another commercial property a few doors down sold for £337,000.
• A three-bedroom detached house requiring modernisation on Ashleigh Gardens in Wymondham sold for £212,000.
• A two-bedroom semi-detached house currently tenanted producing £650 pcm (£7,800 pa) on Middleton Gardens in Gorleston sold for £168,000.
• A two-bedroom mid-terrace house in good decorative order on Old Wellington Place in Great Yarmouth sold for £92,000.
• A hall entrance bay-fronted terraced property in need of updating on Apsley Road in Great Yarmouth sold for £119,000.
• A high yielding residential investment comprising six let flats producing £37,700 pa on Nelson Road South in Great Yarmouth sold for £315,000.
• A Victorian end terraced house in need of modernisation on Bevan Street West in Lowestoft sold for £85,000.
• A two-bedroom semi-detached bungalow with garage requiring updating and improvement on St Michaels Road in Long Stratton sold for £166,000.
• A two-bedroom mid-terrace cottage in excellent condition off Rectory Road in Dickleburgh sold for £200,500.
• A parcel of land measuring around 12.6 acres on St Johns Road in Tilney St Lawrence sold for £340,000 equating to nearly £27,000 per acre.
• A detached two-bedroom former railway house in need of renovation on The Causeway in Stow Bridge sold for £148,000.
• A three-bedroom detached cottage in good decorative order with off-road parking off Dereham Road in Beeston sold for £161,000. An adjacent unfinished two-bedroom detached house in shell form requiring completion sold for £60,000.
• A third of an acre of amenity land including an old railway carriage off Caston Road in Griston sold for £66,000.
• Around 2.27 acres of land off Sedgeford Road in Docking sold for a staggering £185,000.
• 4.6 acres of lake and amenity land off Church Lane in Shipdham sold for £169,000 equating to nearly £37,000 per acre.
• A two-bedroom third-floor apartment in need of updating on Old Market in Wisbech sold for £82,000.
• A three-bedroom mid-terrace house with a garage and long rear garden off Beccles Road in Bradwell sold for £118,000.

4 Mill Cottages, Sutton, sold for £210,000 (Image: Auction House East Anglia)

Auction House East Anglia is now taking entries for its penultimate auction of the year on Wednesday, October 26, with a closing date for entries towards the end of September.

If you have land or property that needs to be sold, call the auction experts on 01603 505100 or contact the team via its website at auctionhouse.co.uk/eastanglia.

Would you like to stay up to date with the latest property news in your area? Sign up to our Eastern Daily Press newsletter for our pick of the best local property stories.