Auction Success: A great way to end the year
Published by Greenslade Taylor Hunt on 18th December 2019 -
We’re thrilled with another 100% success rate at our Collective Land & Property Auction at Batch Country House, Lympsham on Wednesday 11th December, with seven out of seven lots selling under the hammer in front of a crowd of approximately 100 would-be buyers.
It was certainly business as usual despite being the eve of the General Election, where there was competitive bidding for all lots on offer.
The star lot was a Class Q residential barn conversion overlooking Chew Valley Lake, south of Bristol, which saw over a dozen auction packs requested and with the help of a telephone bidder from London, resulted in a hammer price of £164,000 being substantially over the guide price of £125,000.
The property caught the public’s imagination in part by actually being named Robin’s Nest following a planning condition for the reinstatement of a robin’s nest which was found inside the building.
When undergoing conservation checks during the planning application stages, authorities ordered that upon granting the planning permissions, the owner must create a new home for these birds. The name ‘Robin’s Nest’ then seemed appropriate for the property.
There was also an interesting commercial lot which was subject to a business lease producing £21,000 per annum, which realised £200,000, showing a gross yield of 10.5%. The premises was formally part of the former Westonzoyland Airfield, now having changed its use to commercial. Adjoining Grade 1 agricultural land realised approximately £13,500 per acre.
Our next property and land auction takes place at the Shrubbery Hotel, Ilminster, in the New Year on March 12th at 3pm. For more information please contact 01935 415300. '