Parsons Son & Basleys summer auction yielded a 90 per cent success rate whilst at the same time raised £2,176 million of property values with the commercial investments on this occasion taking centre stage.

A mixed freehold investment in Church Road Hove comprising of two large flats and a ground floor retail unit sold for £720,000 whilst in First Avenue Hove, an iconic building comprising of a single freehold commercial investment sold for £355,000.

In both instances the reserve amounts were exceeded by considerable amounts, much to the delight of the owners. Of the 10 available lots across the entire auction process, nine were sold resulting in an incredible success rate of 90 per cent.

According to auctioneer Simon Caplin: “This amount would have been much higher had 2 lots not been withdrawn for legal and documentation reasons although both of these properties should be re available within the coming weeks.”

In a packed room and continuing with their support of local charities, The Love Local Jobs Foundation CIC were the benefactors of the £210 raised from the charity lot that was kindly donated by Miller Paris Solicitors who were on hand to offer free legal advice to those in attendance.

Entries are now being invited for their September auction.