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Lots sell for up to three times the guide price at online auction

Lots sell for up to three times the guide price at online auction

Tue 27 Sep 2022

Land & property auctions

Parcels of land were among the star lots at our September auction – going under the virtual hammer for up to three times their guide prices.

One plot of 6.5 acres in Burgh Road, near Aylsham sold for £233,000 – over the guide price of £80,000-£100,000. This land, mainly laid to grass, sold after receiving 81 bids.

The online auction also saw land in Brickfield Loke, Costessey, Norwich sell for £152,000, over the guide price of £40,000-£50,000 after 83 bids.

Property also sold well with Downe House, Church Street, Northrepps selling for £311,000 - over its guide price of £265,000-£285,000 after 27 bids.

Lodge Farm, Rollesby, near Yarmouth, guided at £395,000-£425,000 sold for £425,000, over after 26 bids.

And Constable Road, Eaton Rise, Norwich sold for £390,000, guided at £375,000-£395,000.

Just three lots did not sell including land and property at St Bartholomew’s, off Clermont Avenue, Sudbury, Suffolk.

Peter Hornor, chartered surveyor and auctioneer, Brown&Co, Norwich said: “We were delighted with the results of our autumn sale which saw more than £2million worth of property sold.

“We very much hope that the three lots which did not sell will do shortly. What is encouraging is that these results were achieved as the marketplace is grappling with the effects of the Chancellor’s mini budget and so far it seems to be business as usual in our part of the country.

“We adapted our auction model to go online in March 2020 and although we miss the auction room and the joy of public auctions, there is no doubt that the online approach is proving a great success, offering transparency and flexibility. We are grateful for our clients and working with our colleagues at Brown&Co JHWalter to develop the auction process even further, enhancing the service we offer.”

For more information contact Peter Hornor, Auctioneer or Trevor Blythe, Auction Manager, Norwich on 01603 629871.

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