First property auctions of the season get off to a flying start!
Our first property auctions of the season were off to a flying start with land, farms and property with development potential all highly sought after!
It seems that nothing can stop the ever increasing price of Cumbrian property and the latest results of our property auctions certainly confirm this, with a small farm and a parcel of land each selling for over 50% of the guide price.
Bellow Hill, a 30 acre small farm in the Garsdale Valley sold at auction on the 1st of April for £780,000, which was 63% over its guide price of £480,000.
Friday 8th April saw Atkinson Ground, 24 acres of productive pasture land and areas of woodland overlooking Coniston Water, going under the hammer for £270,000 - 50% over the guide price, selling to an average price of £11,231 per acre.
On the same day Hodge Hill Farm, a 90 acre traditional upland farm in the Lake District National Park sold for an overall price of £1,345,00. The detached stone bungalow, range of traditional farm buildings with potential for development as well as 38 acres of agricultural accommodation land sold for £930,000.
The two final lots sold as part of Hodge Hill Farm, were 22.79 acres of land selling for £215,000, which was £9,434 per acre, and the final lot, 27.47 acres of land sold for £200,000 - £7,281 per acre.
Both Bellow Hill and Hodge Hill Farms were expected to do well, as was the land at Coniston Water. Bellow Hill, located in a beautiful setting in the Yorkshire Dales National Park, included a house in need of considerable renovation and outbuildings with good development potential. With magnificent views across the Cartmel Valley, Hodge Hall Farm, close to Windermere, included a superb, traditional stone farm building, believed to be built in 1904. The barn has exciting development potential, and this was certainly reflected in the selling price.
What is evident from these sales is that the demand is coming from two main directions, the increasing number of people seeking a more rural lifestyle, which has been given extra impetus by the pandemic, and neighbouring farmers keen to extend their acreages and existing land ownership.
“All three sales were outstanding,” commented Colin Tomlinson, Managing Director of H&H Land & Estates. “There was fierce competition both from local buyers and from others across the UK, resulting in all three properties selling well above their guide prices. There is a particularly strong market for small holdings. Farmers and adjacent landowners are keen to buy more land, and many people are looking for land with high amenity value and barns and outbuildings to convert. High demand and limited supply has certainly got our 2022 season off to a flying start.”
We have regular property auctions and our next auction includes two livestock farms in north Cumbria, the 253 acre East Farm, near Wigton and the 82 acre Fowlpool Farm, near Heads Nook. Both farms will be sold by public auction on Wednesday 27th April in Ring 1, Borderway Mart, Carlisle.
