From a £216,000 bungalow sale to a historic Fowey Estuary inn, Cornwall property auction results highlight strong buyer interest
The latest Cornwall property auction results demonstrate the variety of opportunities attracting buyers across the county, from mixed-use investments and development land to residential properties and a historic waterside inn. Several lots offered through the July online auction held by Clive Emson Auctioneers achieved strong results, including a link-detached bungalow in Illogan that sold for £216,000 against a guide price of £160,000-plus, while New Lydcott Farm near Looe attracted 90 bids before selling for £257,000. A number of other properties, including a mixed-use investment in Redruth and The Old Ferry Inn at Bodinnick, also sold either before or after the auction. Let's take a closer look at some of the highlights.
Redruth property sold
A mixed-use investment property in Redruth with land has sold through Clive Emson Auctioneers.
Located at 4 ,5 and 6 Penryn Street and 1 Station Hill, it was among 170 lots listed in England by Clive Emson Auctioneers, with the July online auction concluding on 23 July.
With a freehold guide price of £75,000 plus, it sold after the auction when an offer was made by an interested party and accepted by the vendor.
The detached property is arranged over five floors with two vacant commercial units on the ground floor and a maisonette above, let at £9,300 per annum.
As well as a courtyard garden, there is an adjoining enclosed parcel of land which has lapsed planning permission for 14 flats
Senior Auction Appraiser Katie Semmens said: “Occasionally offers are made for unsold lots post auction, as in this case.
“The new owner has acquired a mixed commercial/residential property with an adjoining parcel of land with a history of lapsed planning.
“It offers great potential for a variety of future development schemes, subject to all necessary consents being available.”
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In Illogan, a link-detached bungalow with two bedrooms sold for more than £50,000 above its freehold guide.
Listed at £160,000 plus, it eventually went for £216,000 when the gavel fell.
The bungalow, Shorelands in Lower Broad Lane, has two/three bedrooms, a driveway, garage and gardens.
It was auctioned in arrangement with MAP Estate Agents.
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A modern two-bedroom second floor apartment with parking – Flat 33, Chy Kensa, Jubilee Drive, Redruth - sold for £87,000.
Listed with a freehold guide of £65,000 plus, it was sold with the remainder of a 125-year lease, from 1st July 2012.
It was also auctioned in arrangement with MAP Estate Agents.
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Buyer lodges order for Inn
A historic inn with nine letting rooms overlooking the Fowey Estuary also sold through Clive Emson Auctioneers.
The Old Ferry Inn, at Bodinnick, had a freehold guide price of £475,000 plus, but sold prior to the auction when an interested party made a bid, which was accepted by the vendor.
The property dates to the 1500s and is close to the car ferry connecting Bodinnick and Fowey.
Auction Appraiser James Lofthouse said: “As we expected, there proved to be keen interest in this property on the popular and picturesque Fowey Estuary.
“One interested party made an offer prior to the auction, which was then accepted. Occasionally properties are sold in this way after the new owners see them available for auction and are keen to make an acquisition beforehand.
“In this case, the new owner has a gained a substantial property with a bar, restaurant, nine on-suite letting rooms and owners’ accommodation on a site measuring a fifth of an acre.
“They may wish to follow continued use of the property in the hospitality trade or may see the potential for some other type of scheme subject to all of the necessary consents.”
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There was strong bidding for New Lydcott Farm, in Widegates, four miles north of Looe.
With a freehold guide of £100,000 plus, it eventually fetched £257,000 when the gavel fell after 90 separate bids.
The three-bedroom detached farmhouse has off-road parking to the front and side, a rear garden and three outbuildings on a site extending to about 0.05 hectares (0.12 acres).
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Land in Pelynt with planning permission for a detached house sold for £45,000.
The parcel – measuring 0.02 hectares (0.05 acres) – is on the north side of Higher Grange Cottage in Summer Lane.
Freehold land in Sycamore Road, Latchbrook, Saltash sold for £500 – exactly on its freehold guide.
Measuring about 0.02 hectares (0.06 acres), it was auctioned on the instructions of Cornwall Council.
Two freehold parcels of land in the Launceston area also placed at auction by the council sold. Listed with a nil reserve, they went for £10. One was at Wilsey View and the other opposite Kilarney, Tresmeer.
Clive Emson Auctioneers’ next online auction – the sixth of eight this year - concludes from 11am on 24 September. Bidding is live from 48 hours beforehand.
Lot entries close on 1 September, with the catalogue online from 4 September.
See https://www.cliveemson.co.uk for more details.
If you own land or property in Cornwall and are considering selling, auction could offer a quicker and more certain alternative to the traditional market. You can request a free, no-obligation auction appraisal to find out whether your property might be suitable.