BUILDING – Property sale, 2, Coatham Villa, Coatham

Accreditation Redcar and Saltburn News 09/04/1874

PROPERTY SALE AT COATHAM

            Mr Mayne, of Northallerton, attended at Mr Clay’s, Red Lion Hotel Redcar, on Thursday (08/04) to submit to public competition a leasehold residence, No.2 Coatham Villa, belonging to the trustees of Mr George Pearson, deceased. The property is held under a lease for an unexpired term of 92 years, from Mr A  H. T. Newcomen, subject to a ground rent all £7.10s per annum. The sale attracted great attention in Coatham and Redcar. The conditions of sale under which the property had to be sold, were read by Mr J. H. Peirson, solicitor, Guisborough, after which the auctioneer proceeded with the sale by receiving a bid of £1200 from Mr Ridley, when the biddings soon reached £1410.the auctioneer, on the part of the vendor, then declared an open sale. Time was called by the intending purchasers for consultation, and, after a short delay, Mr Mayne proceeded with the sale, when alternately Mr Ridley made a bid of £1450, and no further bids be received, the auctioneer declared that gentleman, the purchaser of this attractive residence.