A collection of 29 lock-up garages in Epsom, Surrey sparked a fierce bidding war at a Clive Emson auction this week, eventually selling for £333,000 – £58,000 above the lower guide price.
The garages are located in two compounds extending to a total of 0.11 hectares (0.27 acres) off Nimbus Road in an established residential area of the town.
The lot was among 187 listed across southern England in the latest auction held by Clive Emson Auctioneers, which ended on Thursday 30 October.
Director and auctioneer John Stockey said: “We had particularly strong pre-sale interest in these garages, which translated into competitive bidding until the last minute.
“Garages such as these inevitably do well at Clive Emson auctions with bidders recognising the worth of a potential investment. With parking spaces often at a premium, especially in London commuter areas, good income can be generated by letting out self-contained garages.
“These 29 garages are within easy walking distance of Ewell West railway station, with Epsom station just a little further afield, thus covering trains to Waterloo, Victoria and London Bridge.
“Any owners of lock-up garages in a similarly desired area may consider that this is a good time to come to market through Clive Emson.”
Clive Emson Auctioneers holds auctions eight times a year. The firm’s last online auction of this year ends on 11 December, with bidding live from 9 December. Lot entries close on 17 November and the catalogue is online from 20 November.
