Buyer splashes out on riverside location

A property hailed as ‘possibly the most stand-out residential development opportunity currently on the market’ in the Plymouth area has sold at auction.

The lot – a garage workshop in a prime riverside position with planning consent for a three-bedroom house – fetched £145,000 when it went under the hammer.

Located in an elevated spot next to 861 Wolseley Road, Saltash Passage, it was among the West Country lots listed for sale by the regional land and property auctioneers Clive Emson at their auction in early May.

Clive Emson Auctioneers in Devon conduct regular auctions, both in-person and online, where a variety of properties, including residential, commercial, and land, are sold to the highest bidder.

Auctioneer Graham Barton said: “As arguably the most stand-out residential development

Auctioneer Graham Barton said: “As arguably the most stand-out residential development opportunity currently on the market in the area, there was strong interest in this property with both ourselves and our Joint Auctioneers, Kitchener Land and Planning of Exeter.

“With glorious views directly over the River Tamar to East Cornwall, the new owner may want to create a stunning home in a jaw-dropping riverside setting or follow an alternative scheme subject to the necessary consents.”  

A well-presented studio flat at 4 Fellowes Place Lane South in the Stoke area of Plymouth hit the top of its leasehold guide to sell for £45,000 with the remainder of a 250-year lease from 2004. 

A detached two double-bedroom chalet with breathtaking sea views at Freathy Cliff, Millbrook, near Torpoint, sold prior to auction.

A buyer made an offer for Amity Lodge which was considerably in excess of its leasehold guide of £160,000 to £180,000. It was offered jointly with At Home Property of Plymouth.

Clive Emson Auctioneers holds eight rounds of auctions at five locations from Essex to Cornwall on consecutive days every six weeks, this time with a total of 152 lots.

The independent, family-run firm continued its flying start to the year with its second round of auctions in March offering 170 lots, raising a total of over £19 million for its clients.

Starting at 11am, the fourth of Clive Emson’s eight regional West Country auctions in 2016 takes place at the St Mellion International Resort, St Mellion, Cornwall, on Friday June 17. Entries close on Monday May 16.

Navigating Property Auctions in the UK: Tips for Success

Buying properties through auction in the UK can be an exhilarating yet challenging endeavor. To ensure a smooth process, consider the following tips.

Set a disciplined budget aligned with your financial limits. Ensure your financing is arranged beforehand, factoring in additional costs like auction fees. Be aware of any potential financial constraints and plan accordingly.

Obtain and thoroughly review legal packs for properties of interest. These packs contain essential information such as title deeds and searches. Legal due diligence is crucial for understanding potential legal issues associated with the property.

Register with the auction house in advance. Provide the necessary identification and a refundable deposit to streamline the registration process on auction day.

Develop a clear bidding strategy before the auction begins. Set a predetermined limit to avoid impulsive decisions during the bidding process. Knowing when to stop bidding is crucial for staying within your budget.

Exercise patience and wait for the right property. It's better to miss out on one auction than to make a hasty decision and regret it later. Timing is critical, and strategic patience can lead to better outcomes.

If you emerge as the successful bidder, be prepared to pay the deposit on the day and complete the purchase within the specified timeframe. Understanding and fulfilling post-auction obligations is critical for a successful transaction.

Consider seeking legal advice before participating in property auctions, especially if you are unfamiliar with the process. Legal guidance can provide valuable insights and help you navigate any complexities.