Buyers from as far away as Umbria in Italy bid strongly for properties at Symonds & Sampson’s property auction on 24 July, with over 80% sold in Cornwall, Devon, Dorset, Somerset, and Wiltshire.
Auctioneer Mark Lewis was particularly pleased to see agricultural land prices holding firm. “With the withdrawal of some grants and subsidies by the government and their approach to agricultural property relief for IHT, some investor buyers have turned away from buying land. Farmers, however, need to expand to keep their holdings viable, and returns of £10,000 – £17,000 per acre were very pleasing. Lifestyle buyers looking for land for horses or to protect properties competed strongly, and land near Blandford, Salisbury, and Wimborne sold for up to £26,000 per acre.
Auction partner Meredith Wallis was equally pleased to see the residential and commercial lots sold “Having so many bidders in the room creates a terrific atmosphere, but bidders joining online and by telephone shows that our versatile approach to in-room auctions remains the best way to engage with as many buyers as possible.”
Notable prices
Cornwall
- A commercial investment property in Hayle sold for £85,000, a 7% return
- Two units with a flat above in Lostwithiel sold for £115,000, an 8% return
Somerset
- A commercial workshop at Henstridge sold for £338,000, 12% above the guide
- A cottage for renovation at Yarlington sold for £278,000, 11% above the guide
Dorset
- A house in Dorchester sold for £230,000, 15% above the guide
- A flat in Sherborne sold for £225,000, 50% above the guide
Find the full results here.
Our auction experts are heading to Bournemouth in August, where a packed catalogue of entries will be offered for sale at the AFC Bournemouth Vitality Stadium. The action kicks off at 2pm.