Agricultural Tie is No Bind to a Strong Sale
July 2022
Justin Lowe, Auctioneer and Partner at Greenslade Taylor Hunt, reports another busy auction held at the Shrubbery Hotel, Ilminster.
Often an Agricultural Occupancy clause can be viewed as a potential obstacle to a successful sale. The market for such properties will attract less interest as only potential buyers who can demonstrate they are agriculturally compliant can bid.
However if the property is set in a delightful location with good views it can prove no barrier at all! A detached modern bungalow, in need of modernisation, sat in 1.02 acres at Easton, Wells, defied the naysayers with strong interest from a range of bidders.
The property was initially guided at £350,000 but the hammer finally went down at £455,000 which, demonstrated that for these properties with agricultural ties they can often be no difference whatsoever.
The firm offered a number of agricultural land lots around Mid and North Somerset and renovation and development opportunities, all attracting strong interest from a wide range of buyers.
A large block at Athelney, near Bridgwater, which attracted strong bidding for the main block comprising low lying moorland currently laid to permanent pasture, natural watering - ideal grazing land reaching £455,000 (£6,589 per acre). A smaller block of 11.66 acres situated to the East of Stanmoor Road, Burrowbridge, saw the hammer going down at £115,000 after spirited bidding (£9,863 per acre).
A renovation opportunity of a redbrick built cottage situated in Comeytrowe Road, Taunton, guided at £200,000, finally went under the hammer at £300,000.
At Highbridge a delightful detached bungalow requiring modernisation attracted good interest and finally sold for £214,000.
Greenslade Taylor Hunt’s next auction takes place on Wednesday, September, 21, at the Batch Country House Hotel, Lympsham, where a number of agricultural and residential development opportunities will be offered.
For auction advice please contact a member of the auction team at Greenslade Taylor Hunt’s Yeovil office on 01935 423474.
Often an Agricultural Occupancy clause can be viewed as a potential obstacle to a successful sale. The market for such properties will attract less interest as only potential buyers who can demonstrate they are agriculturally compliant can bid.
However if the property is set in a delightful location with good views it can prove no barrier at all! A detached modern bungalow, in need of modernisation, sat in 1.02 acres at Easton, Wells, defied the naysayers with strong interest from a range of bidders.
The property was initially guided at £350,000 but the hammer finally went down at £455,000 which, demonstrated that for these properties with agricultural ties they can often be no difference whatsoever.
The firm offered a number of agricultural land lots around Mid and North Somerset and renovation and development opportunities, all attracting strong interest from a wide range of buyers.
A large block at Athelney, near Bridgwater, which attracted strong bidding for the main block comprising low lying moorland currently laid to permanent pasture, natural watering - ideal grazing land reaching £455,000 (£6,589 per acre). A smaller block of 11.66 acres situated to the East of Stanmoor Road, Burrowbridge, saw the hammer going down at £115,000 after spirited bidding (£9,863 per acre).
A renovation opportunity of a redbrick built cottage situated in Comeytrowe Road, Taunton, guided at £200,000, finally went under the hammer at £300,000.
At Highbridge a delightful detached bungalow requiring modernisation attracted good interest and finally sold for £214,000.
Greenslade Taylor Hunt’s next auction takes place on Wednesday, September, 21, at the Batch Country House Hotel, Lympsham, where a number of agricultural and residential development opportunities will be offered.
For auction advice please contact a member of the auction team at Greenslade Taylor Hunt’s Yeovil office on 01935 423474.