Auction Sale Achieves Over Double Guide Price
In their latest public auction, H&H Land & Estates underlined the extraordinary value of a competitive sale when The Old Cricket Field at Barbon in South Cumbria sold for more than twice the £50,000 - £60,000 guide range.
At a packed Kendal Town Hall on March 27th, numerous properties offered for sale by public auction by leading northern property & land agents, our Staveley office attracted fast and furious bidding, and two of the lots offered exceeded even the auctioneer’s most optimistic expectations.
The Old Cricket Field in the delightful village of Barbon was the subject of a bidding battle so fiercely contested the hammer finally fell at £122,000, more than double the £60,000 upper guide price, and at 1.93 acres slightly more than that figure per acre.
A range of meadow and grazing land, including a stable block at Simgill Farm, Grayrigg, extending to approximately 19.39 acres (7.85 hectares), was sold in four lots for a total of £278,000, over £30,000 more than the upper guide range, at an average of £14,337 per acre.
Later in the auction, Fishing Rights extending to approximately 1.37km of single east bank fishing on the River Lune at Fairmile made £25,000, and a pair of garages in the centre of Barbon village continued the competitive trend with a bid of £41,000, more than four times greater the higher end of the guide price.
Land is a finite resource and invariably when a sought after block comes to the market sold prices may exceed the guide. The price achieved for the Old Cricket Field at Barbon showed just how far interested parties were prepared to go.
Selling by auction is not a route that everybody feels comfortable with, but it’s a traditional way of selling in this area, and the spectacular results at Kendal confirm that it can be a highly successful way to achieve outstanding values. It is an important part of our service to advise sellers on the best way to bring their property to market, and H&H Land & Estates has a 150-year track record of experience in picking the right route for the right properties.
We are delighted that the auction achieved such fantastic results for our sellers, and it was clearly a successful day for the bidders who were prepared to pay those prices to secure their purchases. Our Staveley office covering South Cumbria and North Lancashire have upcoming auctions in Cartmel and Ingleton where we hope to see similar interest and success.
Please get in touch with H&H Land and Estates for a no-fee initial conversation if you are interested in selling, or purchasing rural property.
