Austin Gray Auction House Sussex’ most recent auction at The Villas in Hove was another resounding success raising just shy of £4,000,000.

Already this year the auctioneers have sold property totalling in excess of £15,000,000. With one more auction to come they could be on course for surpassing their record breaking total of last year. This would then be their fourth successive annual increase.

A particular highlight was the sale of 27 Oriental Place in Brighton, a large freehold Grade II listed building, which was converted many years ago into a licensed HMO (House in Multiple Occupation). There was considerable pre-auction interest in this property and on the day of the auction two bidders battled it out to a hammer price of £1,200,000, which was the top of the auctioneers’ guide price.

Another great result was achieved for a Victorian terraced office building with planning consent for conversion into 3 flats. With numerous bidders in the auction room it soured past its guide price of £550,000 to sell for £615,000.

Close on its heels was a development site in Brighton selling for £610,000 off a guide of £600,000. The sale also featured a range of houses, flats and commercial properties spread across Sussex, from Ferring in the West to Eastbourne in the East.

Auctioneer, Nick Muston, said: “Although we are experiencing much harder market conditions, we are delighted with the total and percentage sale rate.

“Throughout the year we have continued to out-perform the national auction sale rate average, and this is down to a thorough understanding of the market, correct pricing, marketing, and going that extra mile for both vendors and purchasers.”

The auctioneers are now collecting for their last auction of the year on 7th December, so if you have a property that you feel would be suitable for inclusion, contact the auctioneer on 01273 201980, or visit www.auctionhouse/sussex