Land sells well as almost £7.7 million is raised at online property auction
- Credit: Auction House East Anglia
Auction House East Anglia held its first auction of the year on Wednesday, February 10, selling 47 lots and raising almost £7.7 million.
One of the highlights was the sale of Tollgate Barns in East Tuddenham. Offered as three separate lots, the first lot comprised a complex of four linked converted barns set in three acres which sold for £744,000. The second lot comprised fishing lakes, woodland and amenity land set in 4.8 acres and sold for £116,000. The third lot was a 1.5-acre parcel of amenity land which made £37,000.
“All three lots generated significant interest and all sold well above their reserve prices, making a combined £897,000 much to the client’s delight,” said Robert Hurst, chartered surveyor and auction manager. “This shows that in the right circumstances, lotting separately can achieve a better overall price than offering as one lot.”
The saying “buy land, they aren’t making it anymore” rang true on other land lots which also fared well. Six acres of agricultural land in Bawdsey, near Woodbridge, made over £21,000 per acre and in Ramsey Heights, four acres of land made £16,000 per acre.
“We are delighted with the results of our first auction of the year,” said Robert. “Almost £7.7m of land and property sold. The ongoing uncertainty is influencing more and more sellers to choose auction and get their land and property sold. These results show that despite the ongoing pandemic, people are still buying.”
A mixture of lots including residential, commercial and land went under the hammer and some of the sales included:
- A three-bedroom terrace house requiring modernisation on Spencer Street in Norwich sold to a telephone bidder for £144,500.
- On behalf of executors, a two-bedroom maisonette requiring updating on Byfield Court in Norwich sold to an internet bidder for £94,500.
- A former betting shop on George Hill, Old Catton in Norwich sold for £70,000.
- A Victorian terraced property divided into three flats on Clarence Road in Norwich sold for £260,000.
- On behalf of a housing association a modern three-bedroom mid town house requiring updating on Desmond Drive, Old Catton, Norwich sold for £163,250.
- A two-bedroom mid terrace property on Napolean Place in Great Yarmouth sold for £77,500.
- A four-bedroom modern detached house on Ascot Drive in Peterborough sold for £232,000.
- On behalf of the Diocese of Norwich, a former parish room requiring refurbishment and offering alternative uses on Church Road in Griston sold for £27,500.
- A former stables/coach house with planning permission to convert into a one-bedroom flat at New Inn, High Street in Watton sold for £55,000.
- A sixth-floor apartment in a purpose-built block on Anchor Street in Ipswich sold for £167,000.
- On behalf of executors, 13 garages in need of attention, some let, some vacant, set on a 0.2 acre site off Dereham Road in Pudding Norton sold for £44,000.
- A three-bedroom detached bungalow with attached one-bedroom annex on Neville Road in Heacham sold for £241,000.
- A vacant mixed-use property comprising a ground floor shop and first- floor flat requiring complete refurbishment on Rotterdam Road in Lowestoft sold for £90,000.
- Six acres of agricultural land near The Street in Bawdsey, near Woodbridge, sold for £131,000.
- A large semi-detached house on Manning Road in Felixstowe sold for £265,000.
- A three-bedroom terrace house with off road parking on Norwich Road in Wroxham sold for £164,000.
Auction House East Anglia is now taking entries for its next auction on Wednesday, March 24 with a closing date for entries towards the end of February.
For more information call 01603 505100 or visit auctionhouse.co.uk/eastanglia