Margate Property Auction
Featured in the October 2011 handbook.
- by Alf "Legs Beeching", Margate Historical Society
This property auction sale listed in the local paper dated August.14th1886 gives local historians and interested parties an insight into properties which came onto the local market at this time. Mr John Reeve of the firm of T.U and J. Reeve offered these properties for auction at the White Hart Hotel. There were fifteen Lots in total being the Freehold Estate of the late Mr T L Pettman. The Long Room of this hotel was crowded by some four hundred people and the biddings were fast and free.
The whole Estate was sold as follows-.
Lot 1- Victoria House. 1Sweyn Road and cottages in the rear. started at £500 and was sold for £850.
Lot 2 - Stratheden House No. 3 Sweyn Road started at £300 and was sold for £600.
Lot 3 - Cam Lodge No. 5 Sweyn Road was put up for £400 and was sold for £620.
Lot 4- 45ft of building land in Godwin Road this commenced at £200 and was sold for £325
Lot 5 - Building land in the rear of the last lot which started at £100 and sold for £290.
Lot 6 - Three cottages in the rear of Godwin House, were put up at £50 and sold for £165.
Lot 7 - Sea View Cottage Godwin Road rent value started at £100 and at £5 biddings sold for £465
Lot 8 - The right using the Eastside of Newgate Gap £10 was first offered and sold for £510.
Lot 9 - A cottage, 44 Bath Road commenced at £100 and reached £285.
Lot 10 - A Cottage 54 King Street started and was sold for £150.
Lot 11 - 22 King Street was put up at £200 and fetched £355.
Lot 12 - 20 King Street and a cottage in the rear commenced at £250 and was sold for £455
Lot 13 - A cottage in Princes Court King Street, started at £25 and sold for £75
Lot 14 - Boat Builder’s Shop Fort Mount put up at £100 and knocked down at £255.
Lot 15 - About an acre of arable land at St. Peters started at £25 and was sold for £170
This estate has been fully advertised in the Gazette and on comparing prices with the rent may be looked upon as evidence that property in this popular healthy seaside resort is again taking up it’s old position and becoming a favourite investment for the capitalist and other who seek health and rest here. In conclusion it will be of interest to any person who perhaps now own any of this estate to compare what their prices or price paid with those of
125 years ago.