A row of 23 garages in Newport has been sold for more than double their reserve price at auction.
The garages, located in Allt-yr-yn Way, Newport, were listed by Paul Fosh Auctions with a guide price of £50,000.
However, they attracted significant interest, with a total of 100 bids from four individual bidders, resulting in a final sale price of £121,000.
This equates to just over £5,200 per garage.
Debra Bisley, of Paul Fosh Auctions, said: “The garages, in desirable Allt-yr-yn Way, Newport, were a hit from the start.
“Eventually we had a total of 100 bids for them from four individual bidders with the lot going for more than twice the guide price at £121,000.
“This works out at just over £5,200 each which is a really great result all round.”
Ms Bisley, who has sold a wide range of properties from pubs to office blocks, said garages are always popular at auction.
She said: “There’s seldom one of our property auctions when we don’t have at least one garage on offer.
“Garages or just a single garage, are ever popular and much sought after and, depending on a range of matters including condition and location, can achieve very satisfactory prices at auction.”
She added that garages can be a good investment as people often have more belongings than storage space.
She said: “People are willing to pay rent for the privilege of having more room to store things, such as maybe a classic car or excess furniture or things that ‘might come in handy one day’, by renting space on a short or long term basis.”
The next Paul Fosh Auctions starts at 12 noon on Tuesday, February 4.