Auctions team break Brighton and Hove sale price record18.04.2017
In the last property auction held by Austin Gray a detached Victorian red brick property in Grand Avenue, Hove, sold for a record-breaking price of £2,100,000. This was not only the highest price achieved by the auctioneers, but it would also appear to be the highest price achieved by any auctioneer, for a single residential building, sold in Brighton or Hove.
Built in around 1880 by the renowned builder William Willett, it had an interesting early history, as we know that in 1882 it was used as the first premises for The Hove Club, and in 1891 some of the rooms were used as free public reading rooms and a reference library.
Post-war, the building was converted into 8 flats and when offered for sale they were all vacant. In recent years, the building had fallen into disrepair, and both externally and internally it required a considerable expenditure to restore it to its former glory.
The sale included other notable results including a terraced house in Addison Road, Hove, which was in a very sorry state, however, this did not deter bidders. The guide price of £500,000 was quickly left behind when it raced to a final hammer price of £605,000.
A small commercial property on The Level in Brighton, which for about 60 years was a sports shop, sold with planning consent for conversion into a 3 bedroom house for £295,500, off a guide of £275,000 - £300,000. The final sale total of £4,000,000 was a great start to the new financial year.
The auctioneers are now collecting entries for their next auction on the 18th May and early entries for this auction include a number of properties in Worthing, Burgess Hill, Eastbourne and Brighton.
Austin Gray is one of the largest property auctioneers in the South East of England covering Sussex, Surrey, Kent and Hampshire. The team has been holding auctions in Brighton and Hove for more than 30 years, and has an enviable reputation in the area, with a current success rate of 87%. Visit the Auction House Sussex website to view our current lots and upcoming auction dates.