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Demand for Development Sites Remains High

November 2022

The ongoing turmoil in the political and financial world has undoubtedly impacted on the residential markets however the interest in development opportunities and farmland clearly remains unaffected. Farmland in particular is in short supply but is witnessing increasing demand from both farming and non-farming buyers.

This was reflected at Greenslade Taylor Hunt’s October property auction where another large crowd gathered at the Shrubbery Hotel in Ilminster.

The main attraction of the day was situated in the village of Wearne near Langport, where a delightful opportunity at Wearne Farm was offered. It comprised a development site with full planning permission for the demolition of farm buildings and the erection of a three-bedroom dwelling and the conversion of an existing building into ancillary living accommodation created considerable interest.

The firm’s Langport office had registered a record number of viewings on the property and the auction guide of £150,000 was easily surpassed with the hammer finally falling at £220,000.
Similarly a terraced four-bed cottage for renovation in Stoke Sub Hamdon saw the hammer finally falling at £190,000.

There was particular interest in land at Kingsmoor, Long Load, with some 28 acres going under the hammer in three lots averaging £6,428 per acre. Another exciting opportunity at High Ham comprising a delightful block of land and stabling saw the hammer fall at £95,000.

The next property auction takes place at Batch Country House at 1pm on Wednesday, November 30. For more information please contact the auctioneers on 01935 423474.


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