As one of the leading rural property advisory firms in the North, H&H Land & Estates look at the current environment for Land Auctions.
With the world slowly beginning to open back up from recent COVID restrictions, Thomas Armstrong, Director and Chartered Surveyor for H&H Land & Estates looks at what this means for land sales by public auction.
“Traditionally the lead in time for a property auction is 6-8 weeks, therefore, due to COVID restrictions, we have only recently been able to get going with public auctions again.”
“We do of course offer an online service, but have generally found that our clients preferred to wait for the more traditional auctions to get going, presumably in the hopes that the atmosphere round the rostrum will help to drive sale prices.”
“We have recently held two auctions which have both been a resounding success, suggesting the land market is moving to new levels. Lant at Blindcrake, Cockermouth, sold at unprecedented levels on July 14th, going for 35% above the guide price at £945,000.”
“We then held an auction for Land at Murton, a block of allotment grazing land, selling at new levels, well above guide price, for what some might suggest was poor land.”
“This recent success will attribute to the recent flurry of people looking to take advantage of the trade. We already have two more auctions coming in September: Land & Stables at Newtown, Irthington, 0.72 acres and timber stables with a guide price of £40,000 for sale in Newtown Village Hall on 16th September; Piper Hole Barn, Ravenstonedale, a traditional stone barn with development potential, being sold in Ravenstonedale High Chapel Community Centre on 29th September.
Three further auctions are booked in for October: We have land at Brown Howe, with 55metres of lakeside frontage onto Coniston Water, with a guide price of £50,000 and 8 Dodding Holme, Mealbank, Kendal a semi-detached house with a guide price of £90,000, both available for sale by public auction at Kendal Town Hall on Friday 1st October
We are then holding a public auction on Tuesday 12th October at Kirkby Stephen Auction Mart, for land at Hartley, Kirkby Stephen, an excellent 4.2 acre grazing field, available for sale by public auction at 3.30pm. Also for sale on this day is an excellent single field enclosure of productive mowing/grazing land, extending to 4 acres, near Brough.”
“With a guide price of £30,000 and £40,000 respectively, the H&H Land & Estates team are hoping again for high levels of interest.”
H&H Land & Estates have a reputation as one of the leading independent rural property advisory firms operating across the North of England and the Scottish Borders. They have a well-established client base across all their offices.