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22 May 2024

High Street Takeaway Sells for Almost Four Times List Price

A high street takeaway sold at auction for almost four times the list price.

Listed with a guide price of just £60,000, the property in Pontygwindy Road in Caerphilly, which is currently let to a Chinese takeaway, sold for £221,000.

Debra Bisley, of Newport-based Paul Fosh Auctions, said:

“It's fair to say that there was a real battle among the various bidders to win this property which is located on the principal route through Caerphilly.

“In all, a total of five bidders got the bit between their teeth and cast a phenomenal 157 bids with the final successful bid being £221,000. It's sometimes the relatively unexceptional lots that create most interest, which was certainly the case with this property.”

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