On 9th November a large number of people filled The Oak Tree Arena at Edithmead for a collective auction sale of properties which spanned from Weston-super-Mare to Bridgwater and Ilminster.
Covering areas throughout much of Somerset with lots from a number of local estate agents, this interesting sale drew a large crowd which packed the room to capacity.
The sale, conducted by Auctioneer and Senior Land Agent Ian Walker, commenced with two properties at Ilminster brought to auction by Mayfair Town & Country. The first being an end of terrace cottage requiring extensive modernisation located in Butts which sold at £100,000, followed by a detached bungalow at Broadway in need of updating which realised £195,000.
Moving to the seaside (Burnham-on-Sea), a freehold land plot at Worston Lane, suitable for a mobile home, reached £67,500 after spirited bidding. This was followed by a house in Eastleigh Close with 3 bedrooms in need of updating, brought to auction by Berrymans, which sold for £206,000.
Almost halfway through the sale the room remained packed, with interested purchasers ensuring that a detached bungalow on Bristol Road in Bridgwater being sold by Tamlyns made £156,000, despite needing improvement, and a rural barn for conversion to a dwelling at Stockland Bristol, after a long bidding run, fell to the hammer at £175,000.
An unusual lot on the Polden Hills comprised a Grade-II-listed stone-walled garden of about a third of an acre in a completely overgrown state in the village of Edington; the price for which grew to £37,000 with an adjacent small garden area selling to the same buyer for £5,000.
Last but by no means least was a detached bungalow at Milton in Weston-super-Mare, again being sold by Mayfair Town & Country. This 1960’s property had remained in the same ownership and in its original form since construction. Offered for sale for the executors of a deceased estate and now in need of very extensive renovation both inside and out, the property had been guided at £120,000 to £150,000. The bidding opened at £100,000 and received a long run of bids which slowed around £150,000 with two determined bidders in pursuit and a long volley of bids before the auctioneers gavel fell at £198,000.
Auctioneer Ian Walker commented after the sale: “Tonight was a pleasing result with 100% success having sold all 9 of the properties offered. This shows the level of interest still in the market for investment and development properties. With sensible advice on price guides and a good marketing programme, excellent results have been achieved”.
A further property auction will take place on 14th December with more sales programmed for early spring. Should you be considering a sale by auction, contact your local branch of Mayfair Town & Country for free, no-obligation advice.