News on Property Auctions

Property auction sees prices climb

May 2012

Guide prices were smashed at an extremely successful property auction held by Greenslade Taylor Hunt at The Castle Hotel, Taunton last Thursday.

Martyn Venner, Associate at Greenslade Taylor Hunt’s Bridgwater office, said: “We were delighted with the 100% success rate of our latest auction especially under the current economic conditions.

“We, as a firm, are very selective as to the type of property we put under the hammer but with the correct advice, marketing and expertise it can prove very successful.  Greenslade Taylor Hunt are renowned for holding successful property auctions throughout the year and if you are considering selling the auction route could be the method that suits you. Experience counts!”

Highlights included the sale of Waterdene Farm, Crowcombe. This three-bedroom residential holding, in an idyllic rural position at the foot of the Quantock Hills, set in 57 acres was marketed at a guide price of £650,000. The hammer fell at £835,000.

A renovation project in the favoured village of Bishopswood proved popular. The Yews, a two/three bedroom property with large gardens backing onto fields, sold for £229,000 exceeding the guide of £220,000.

It was not just residential property that attracted competition at the sale. A beautiful woodland at Combe Florey, near Taunton, proved a draw. This appealing mixed woodland forming part of Combe Wood and extending to 17.04 acres made £93,000 off an auction guide of £85,000.

Land comprising 16.05 acres at Ham Hill, Combe St Nicholas, near Chard, also went for well over its guide price of £90,000 and sold for £120,000 equating to £7,500 per acre.

A three-bedroom bungalow with great views and ripe for renovation at Marshwood, West Dorset, achieved £170,000 off a guide of £120,000.

Finally two small mature cider orchards at Stockditch Road, Kingsbury Episcopi, made £9,000 and £7,000 respectively both exceeding the guides.

The firm’s next collective property auction is scheduled to take place at The Castle Hotel, Taunton, on June 8. A variety of residential and agricultural property will be on offer including a three-bedroom residential holding at North Curry and a selection of land at Brompton Regis, near Dulverton. For further details log on to the website www.gth.net

Another successful multi-lot Collective Property Sale grosses £½ million for GTH

May 2012

Land lots across the region of North Somerset were offered to a packed auction room of 150 people resulting in a good test of the land market this spring.

Jeremy Bell, Partner at Greenslade Taylor Hunt’s Burnham-on-Sea office, said: “Selling land by public auction is the only sensible method of sale, very often achieving higher prices than the stated guide prices which one wouldn’t get if selling by private treaty.

“Occasionally selling land by tender may also achieve a premium if a special purchaser can be identified. This is where the experience of the auctioneer and firm’s reputation and local knowledge comes into play in giving the best professional advice.”

The sale conducted by Greenslade Taylor Hunt at Batch Country House, Lympsham, saw a number of lots exceed their guide prices.

A particular highlight was 8.46 acres (3.42ha) at Cheddar Moor Drove, Draycott, near Cheddar. This comprised two parcels of land and was on at a guide price of £50,000-£60,000. The hammer went down at £85,000.

Land at Touch Lane, Compton Dundon, near Somerton, comprising 10.94 acres (4.43ha) was marketed at a guide price of £55,000-£65,000. It sold for £70,500.

Agricultural pasture land at Westhay Moor Drove, Westhay Moor, near Wells, achieved £88,000. It was on at a guide price of £60,000-£70,000.

The firm’s next similar auction is planned for mid June. Jeremy Bell can be contacted on 01278 765588.

Strong interest in East Devon properties and land

October 2011

Despite the ongoing difficulties being experienced within the wider economy, Will Handel from Greenslade Taylor Hunts Honiton Office reports a successful auction of property and land in East Devon.

The auction comprised 5 Lots, with two having been sold prior to auction, and included three residential properties requiring modernisation in addition to agricultural land and resulted in a packed auction room and competitive bidding.

First on offer was Fieldhead at Luppitt which comprised a 2/3 bed bungalow requiring updating which having been guided at £225,000 was eventually sold after keen bidding for £293,000.

Blue Anchor at Payhembury comprised a period detached 2 bed cottage also requiring general updating and offering scope for alteration and/or addition which was marketed with a guide of £225,000 and sold for £250,000.

Beechcroft at Southleigh, a 2 bed woolaway bungalow requiring much updating and subject to an Agricultural Occupancy Condition sold for £100,000.

The land was keenly contested providing further evidence that the demand for good agricultural land remains strong. Considerable interest prior to the auction resulted in two lots being sold before the auction whilst on the day 4.49 acres sold for £38,000.

Will Handel, in the firms Honiton office commented ‘the auction system continues to be popular with vendors and purchasers alike, and for the right property with the correct marketing is a highly effective method of sale. Properties requiring updating and modernisation continue to be keenly contested whilst the land market has shown no signs of easing".

The Honiton Office are now taking entries for their Collective Property Auctions for 2012 and for a free market appraisal or to discuss the suitability of your property for auction please contact Will Handel on 01404 46222.

8 Out of 9 Success Rate at Taunton Auction

October 2011

Over 150 people crammed into the venue anxious to bid for their chosen lot and as a result we saw 8 out of 9 properties successfully sold under the hammer with all guide prices being exceeded. 

Record £5.386M Property Auction

July 2011

Not only was Friday 24 June Mid Summers Day, but also the day on which one of the largest and most successful Auctions of Agricultural property in the South West was held. The Auction - possibly one of the largest to be held within Devon for many years unusually included two large Farms, together with other Agricultural property. With a one hundred percent success rate, the sale totalled £5,386,000. Held at the Padbrook Park Hotel, Cullompton; Auctioneer Tony Overhill FRICS and Partner in GREENSLADE TAYLOR HUNT's Tiverton office offered the mixed portfolio to a capacity audience of over three hundred interested parties.