Bakewell Property Auction Report – July 2018

30th July 2018

Ten varied lots were entered into today’s auction, with guide prices ranging from £40,000 to £1,000,000. The auction room was full to bursting, with limited standing room. This is testament to the quality of the lots on offer and the benefit of a clear marketing strategy.

Collectively values realised on the day amounted to £3,592,000 comfortably outstripping the guide prices in many cases

By way of summary

 The first lot offered was 3.87 acres of land at Castleton. Strong demand saw frenetic bidding, with a figure of £70,000 (£18,000/ac) achieved.

 Moorfield Farm at Derbyshire Level, Glossop comprised a semi-detached property with substantial gardens. This achieved £280,000.

 Valley Farm, Ambergate was the first of the two significant farms on offer. The property includes a farmhouse in need of refurbishment, a range of buildings all within 55 acres. The hammer fell at £730,000.

 Rose Tree Farm at Milltown, Ashover had over 100 people view the property prior to the auction. Interest in the room didn’t disappoint, with the guide price being comfortably exceeded to realise £590,000.

 26.9 acres of upland grazing at Abney was sold in the room shortly after the auction.

 Sitterlow Farm, Parwich comprised a 95-acre stock farm in a sought-after area. The holding included a farmhouse in need of modernisation and a good range of buildings. £1.4 million was realised.

 The final lot was The Long Barn, Dronfield that had the benefit of planning consent for residential conversion. The hammer fell at £350,000.

In addition to the above, two lots offered did not make their reserved prices;

 Lodge Farm at Bolsover comprising a farmhouse in need of refurbishment, a range of outbuildings and 4.33 acres, with an option to purchase a further 4.8 acres.

 Two semi-detached properties 49/51 Coddington Lane, Whatstandwell

At the time of writing these properties remain unsold, so any interested parties are invited to come forward.

If it were needed, this property auction yet again highlights the benefits of sale by auction for the right properties, with the competition in the room driving up prices and the benefit of a clear sales process.

Should you be considering offering your property to the market by auction, please do speak to your local Bagshaws office for considered advice.