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There were good levels of pre-auction interest in several of the lots with another full saleroom. The bidding was cautious but nevertheless we achieved a 75% success rate resulting in the auction breaking through the £4 million total for the first time.
It is evident that guide prices and vendors' expectations need to be realistic in what appears to be a toughening market in both the residential and commercial sectors. Demand for agricultural land remains very buoyant.
Some highlights
Lot 2 Paddocks at Balsham - sold for £52,000
Lot 4 28 acre arable land at Bourn - sold for £254,000
Lot 5 Ashdon: a pair of semi-detached cottages for renovation (pictured here) - sold for £212,000
Lot 7 Fen Bridge Farm, Bassingbourn: a detached period property requiring renovation with about 5.19 acres. - sold for £301,000
Lot 9 Farmbuildings for development, Stevenage - sold for £189,000
Lot 18 Cherry Hinton Road: (pictured here) a mixed use investment opportunity of ground floor retail unit let to Blazing Saddles and three residential flats
- sold for £595,000
Lot 19 Victoria Road: another mixed use investment opportunity with five bed flat let on AST at £1,400 pcm, and a building plot for a two bed dwelling - sold for £480,000
A three of the Charles Wells pubs were also sold.
The next Cheffins Property Auction is on 1st December.
Property Auction breaks £4 million barrier
Simon Gooderham reports on another successful Cheffins Property Auction.There were good levels of pre-auction interest in several of the lots with another full saleroom. The bidding was cautious but nevertheless we achieved a 75% success rate resulting in the auction breaking through the £4 million total for the first time.
It is evident that guide prices and vendors' expectations need to be realistic in what appears to be a toughening market in both the residential and commercial sectors. Demand for agricultural land remains very buoyant.
Some highlights
Lot 2 Paddocks at Balsham - sold for £52,000
Lot 4 28 acre arable land at Bourn - sold for £254,000
Lot 5 Ashdon: a pair of semi-detached cottages for renovation (pictured here) - sold for £212,000
Lot 7 Fen Bridge Farm, Bassingbourn: a detached period property requiring renovation with about 5.19 acres. - sold for £301,000
Lot 9 Farmbuildings for development, Stevenage - sold for £189,000
Lot 18 Cherry Hinton Road: (pictured here) a mixed use investment opportunity of ground floor retail unit let to Blazing Saddles and three residential flats
- sold for £595,000
Lot 19 Victoria Road: another mixed use investment opportunity with five bed flat let on AST at £1,400 pcm, and a building plot for a two bed dwelling - sold for £480,000
A three of the Charles Wells pubs were also sold.
The next Cheffins Property Auction is on 1st December.
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