Several properties in and around Torquay have been snapped up through auction, proving that the town is attracting investors as the economy begins to pick-up
THE properties were among 25 lots listed for sale by Clive Emson, the regional land and property auctioneers.
Optimism in the property market appears to be growing and opportunities to invest are increasing.
One such opportunity was Torre Cottage in Upton Road in Torquay that was so desirable that one party made sure that it didn't get as far as the auction room.
Currently the property is divided into a dozen letting rooms and it is ideally placed for the town centre.
The auction saw another property, at 33, Sherwell Valley Road, sold for £126,000 – above the pre-sale guide price.
Currently it is formatted into a one bedroom ground floor flat and a three bedroom maisonette.
It has great views of parkland opposite and interest came from lettings investors and those who envisage post-works formal break-up and sale of the two individual flats.
In Teignmouth a two bedroom ground floor flat sold for £67,000 – well above the guide price of £40,000.
It needs improvement but is in a quiet, tucked-away location next to the town's new museum.
The level walk to both the nearby town centre and the sea-front drew loads of interest from owner-occupiers as well as residential lettings investors.
Graham Barton, auctioneer and regular on BBC1's Homes Under The Hammer, said: "These properties offer different opportunities and there a queue at pretty well all the viewings."
"It shows that the area is still popular and there is demand from investors and developers for properties like these."
The Clive Emson auction took place at the St Mellion International Resort, St Mellion, Cornwall. The next sale at the same venue is on September 17 with entries closing on August 15.
Meanwhile, Clive Emson is the first in the south to offer internet bidding during the auction – the newly launched online service is aimed at bidders unable to travel to the venue.
Users of the service - through www.i-bidder.com/cliveemson - will need to register three days in advance, which is the same as telephone and proxy bidding.
In June's round of four auctions, with 133 lots from Kent to Cornwall, nearly £12.6m was raised, with a success rate of 78 per cent.