A River Thames Pier located in Gravesend, Kent saw competitive bidding at Network Auctions’ 28th February ballroom sale with the hammer price reaching £96,500 – almost double the £55,000 guide price.
The freehold pier, which has been used as a passenger ferry terminal, was being sold on behalf of receivers. Guy Charrison, the auctioneer said, ‘In all my 39 years of the property industry, I have never sold a pier.’
An enrapt room watched on as bidding started at £55,000 and crept up in £1000 and later £500 increments as the determined buyers battled it out until the gavel fell. The successful purchasers were the Port of London Authority who intend to use the pier as a working berth and be operational within months.
Network Auctions’ 28th February ballroom sale, held in their new location at The Westbury Mayfair, raised £5,942,500 with a successful sales rate of 86%.