Investment buyers secure three income-producing farm estate properties
Demand for investment property in desirable rural locations continues to remain strong, with three tenanted homes forming part of the Higher Grants Farm estate successfully sold through Clive Emson Auctioneers. Located on the edge of Exmoor, close to the Somerset and Devon border, the properties attracted investor interest thanks to their existing rental income, countryside setting and long-term investment potential. The sales highlight the continued appeal of income-producing residential property offered at auction.
Farm estate properties sell
Three investment properties on a farm estate on the edge of Exmoor sold through Clive Emson Auctioneers.
Located across Higher Grants Farm, near Exebridge and Dulverton, they were among 170 lots listed in England by Clive Emson Auctioneers, with the July online auction concluding on 23 July.
Number one Grants Cottages – a semi-detached cottage with three bedrooms forming part of the Higher Grants Farm courtyard – sold after the auction.
It was listed with a freehold guide of £110,000 to £115,000 and is currently let at £7,800 per annum.
Number two Grants Cottages – a semi-detached cottage with three bedrooms forming part of the Higher Grants Farm courtyard – sold for a freehold price of £110,000 when the gavel fell.
Byre House (pictured) – a four-bedroom terraced house with a freehold guide of £150,000 to £160,000 – sold prior to the auction when an offer was made, which was accepted by the vendor.
Auction Appraiser Steve Appleby said: “Investment buyers clearly saw the opportunity to acquire these properties in a popular location on the edge of Exmoor, close to the Somerset and Devon border.
“They offer an immediate return on investment with letting agreements already in place as well as potential for long term capital growth.”
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.