Parcels of land in high demand at £1.75 million collective auction
Strong demand for small parcels of amenity land in Shropshire, Worcestershire and Mid and North Wales continues unabated on the evidence of auction results last week.
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Six parcels of land went under the hammer at Halls’ successful, £1.7 million July collective property and land auction in Shrewsbury which saw all 12 lots sold on the day.
Top seller of the land lots was 9.30-acres at Garthmyl, near Montgomery, which sold for £150,000. Versatile 11.73-acre and 2.24-acre parcels at Ridley Wood, near Wrexham sold for £106,000 – doubling its guide price – and £29,000, respectively and a 3.18-acre parcel on the outskirts of Newtown, near Wem made £35,000.
The lots also included Red Lodge at Frith Common, Eardiston, near Tenbury Wells, comprising a plot of land and a static caravan with planning permission for a year-round holiday let, which sold for £81,000.
Halls chairman Allen Gittins, who conducted the auction, said: “There was huge interest in the 11.73-acre parcel at Ridley Wood, with bidding starting at £40,000 and ending up at £106,000.
"The owner was absolutely stunned at the prices achieved for both his lots at Ridley Wood.
“The land at Garthmyl, which was ideal for arable cultivation or grazing farm livestock and horses, also sold well to it guide price of £150,000.
“We have never sold a lot like Red Lodge at Frith Common before, so it was a very rare and unusual opportunity to buy a plot of land with a static caravan where someone could go for a break any time they pleased."
“This auction again demonstrated how buoyant the market is for small parcels of land where buyers can graze horses or livestock or just own their own little piece of England or Wales as an investment.
“The nub of it is that they are not making any more land! Good parcels of land don’t come on the market that often and when they do, they command strong prices.
“Our collective auctions are popular because buyers leave knowing they have signed a contract, paid a deposit and the property or parcel of land will be theirs within 28 days.”
Entries are now being accepted for Halls’ next collective property and land auction on Friday, September 27 at 3pm. Contact Mr Gittins on 01691 622602.
