A substantial detached house on the outskirts of Great Wilbraham achieved £651,000 when it went under the hammer at the Cheffins property auction on Wednesday 24th September. In need of full refurbishment and sold with five acres of gardens and woodland, the house was sold to a local buyer, following competitive bidding from a number of parties.
Another lot which saw significant interest was a parcel of 2.36 acres of grassland on the edge of Houghton, Cambridgeshire. Including an open fronted timber pole barn it has two vehicle access points. It was sold for £175,000 against a presale estimate of £75,000. In Fordham, near Ely, a development site with planning permission for two detached houses was sold for £250,000 to a local developer. Set in the heart of the village and within easy reach of local shops and amenities, the site already had utilities connected and made for a ready-to-go option for developers and investors.
Similarly, a former fishery in Great Wratting, Suffolk, achieved over its estimate, selling for £132,000 against a guide price of £125,000. Stretching to 5.58 acres the fishery came with three lakes and significant frontage onto the River Stour. It was sold to a local property owner.
Ian Kitson, Director, Cheffins says: “The auction room is often a key indicator of what is happening in the wider market, and this sale was no different, with buyers seeking out the best of opportunities which will provide a financial return or maximum amenity. As always in times of uncertainty, there is a flight to the prime offerings, and this was certainly evidenced in the popularity of a number of the auction lots, including the house in Great Wilbraham; the sale total of over £3.2m was further illustration that there is plenty of demand for the right assets, from a wide range of buyers looking for places to invest their money.”
The next property auction at Cheffins will take place on Wednesday 10th December at 10am.
For further information, contact Cheffins Property Auction team on 01223 213343, property.auctions@cheffins.co.uk