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Fears that interest in buying property is waning were not in evidence this week, with the successful auction of nine lots at the Stags collective auction held at The Devon Hotel, Matford, Exeter on Wednesday. The sale attracted over 100 interested parties, making for a packed audience for Stags’ auctioneer Andrew Luxton.
The star of the show was Four Elms Farm, which in many ways was the perfect property to take to auction. The farmhouse and barns are ripe for modernisation and diversification, appealing to both residential and development buyers, while the quality Grade II land attracted farmers from the local vicinity looking to expand. Lot 1, which included a large Victorian farmhouse in need of modernisation, a courtyard of barns, modern buildings and a pony paddock of 5 acres, drew considerable interest, with 66 interested parties booking viewings. On the day, bidding was swift, with the winning bid of £570,000 coming from a local family.
The land lots at Four Elms saw enthusiastic bidding from farm buyers, with the six lots selling at between £9,100 and £14,500 per acre, a great result for the vendors who were delighted with the result. George Alder, Head of Farm Agency, commented ‘The fact that the land at Four Elms is of good quality, with free draining soil capable of growing grass and cereal crops, meant that it appealed to those local buyers looking to expand operations. Easy access to the A30 was also a bonus.’
Mill House at Axminster, an intriguing former period Mill House with extensive character accommodation with original features, decked terrace and enclosed courtyard incorporating off road parking, was offered with an auction guide of £150,000 but exceeded all expectations to raise £168,000. Two attractive fields overlooking the Yarty Valley, close to the village of Stockland, saw multiple parties bidding and the gavel fell at £70,000 from a guide of £40 - £47,000.
Two lots – The Old School House at Dunkeswell Abbey and Coursebeer House at Whiddon Down – were sold prior to auction.
For more information on buying or selling property at auction, please call your local Stags office.