Property and Land Auctions

This auction was held on Wednesday 10th July.

Bagshaws held their Land and Property Auction at Uttoxeter Racecourse on Wednesday 10th July 2024 with four lots going under the hammer. The lots ranged from pastureland with a steel portal framed barn, to a commercial property with an interesting residential development opportunity in Cannock and two Grade II listed properties, one at Tixall and one at Moddershall, with planning consents granted for conversion to residential dwellings.

All buyers registered to bid in advance of the sale commencing. Contracts were made available to purchasers before the auction date, which meant any successful purchasers would be able to exchange contracts on the day, with the completion date being set 28 days thereafter.

We report that the sale resulted in a 50% clearance, with two of the four lots offered on the day being sold and some good prices being realised.

The opening lot, the Land and Barn at Muckley Corner, extending to 9.40 acres, had a number of bidders competing to become the successful purchaser, with the price achieved settling at £275,000 (£29,255 per acre).

The second lot sold, Lot 3 was a commercial property on Mill Street in Cannock, with planning permission for two residential flats and five dwellings to the rear, which reached its conclusion, selling for £175,000.

This auction shows the benefit of the traditional auction system where the property is offered on the day and a signature on the contacts is achieved, with a completion 28 days thereafter. If you would like advice on whether your property would be suitable for sale by auction, then please contact your local office or one of our experts to discuss the matter with you. The next property auction is scheduled for Monday 22nd July at Bakewell Market and the next Staffordshire Property Auction is scheduled for Wednesday 23rd October, again at Uttoxeter Racecourse.

The Auctioneer for the day was Malcolm Gale.