Property and Land Auctions

This auction was held on Wednesday 10th May.

 

Uttoxeter Property Auction Report – 10th May 2023

 

Bagshaws ran their Property Auction at Uttoxeter Racecourse on Wednesday 10^th May with seven lots going under the hammer, ranging from a paddock of 2.9 acres, up to a farmhouse, buildings and land extending to 19 acres, as well as a further block of arable land of 67 acres.

A full room greeted those lots on offer, with all buyers registering to bid in advance of the sale commencing. With contracts being available to purchasers before the auction date, it meant that any successful purchasers would be able to exchange contracts on the day, with the completion date being set 28 days thereafter. We are delighted to announce that the sale resulted in a 100% clearance, with all lots being sold and some good prices being realised across the board. Green Farm at Chatcull, near Eccleshall, extending to 19 acres and having a three bedroom dwelling in need of modernisation along with a number of farm buildings, had a number of bidders competing to become the successful purchaser, which pushed the price to £710,000. The remaining six lots were then all pieces of land ranging from Elmhurst in Staffordshire to Breadsall outside of Derby, with the latter 23.3 acres at Breadsall finishing the bidding at £355,000 (£15,236 per acre), for an area of land just on the village edge. Spirited bidding was also in evidence for the 6.2 acres of grassland lying between Stretton and Rolleston on Dove, which was finally purchased at £88,000 (£14,194 per acre). However, top call of the day for the rate per acre was for the final lot sold. 2.9 acres at Elmhurst realised £78,000 (£26,897 per acre), with the adjoining 3.89 acres realising £75,000 and the larger block of just over 67 acres realising £800,000. There was also an area of 25.36 acres of pastureland at Footherley, near Lichfield, which had a number of brook courses and ditches dividing its four field parcels, with some of its area wet lying, which resulted in a purchase price of £175,000.

As always, this auction shows the benefit of the traditional auction system whereby 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 22^nd May at Bakewell Market and the next Uttoxeter Property Auction is scheduled for Wednesday 9^th August again at Uttoxeter Racecourse.

The Auctioneer for the day was Malcolm Gale.