Fratton property block sells for £186,000 above guide price in bidding war

Located between 170-176A Fratton Road, Fratton, a multi-purpose property has sold for £681,000, a whopping £186,000 more than the guide price amid a bidding war.

The property, which comprises of both residential and commercial units, went under the hammer yesterday afternoon (September 18), with Clive Emson Auctioneers.

Joe Rocks, auction appraiser, said: “There was keen interest in this mixed-used investment at Fratton, with 182 bids made and the hammer coming down at £681,000.”

Fully let at £57,960 per annum, the freehold building, which was among 195 lots listed in the auction, was previously described as an investment opportunity.

Joe added: “The substantial property block comprises four separate commercial units on the ground floor, all fronting onto Fratton Road and all let to long-term tenants.

“In addition, there are six self-contained residential dwellings, all with their own entrances. Five share the communal gardens at the rear and one has its own access directly off Fratton Road.”