A former poultry farm at Bulley near Churcham in Gloucestershire has sold at auction – for more than £200,000 above the asking price.
Matthew Peters from Bruton Knowles handled the five-lot sale held at Gloucester Farmers Club.
He said: “This was an unusual sale as the bungalow is in need of fairly extensive refurbishment. But the farm is in a lovely spot just off the main A40 Ross-on-Wye road which attracted local and national interest resulting in some spirited and competitive bidding.”
The farm was placed on the market following the death of John Van Nievelt, a well-known figure in Gloucestershire farming.
Matthew reported that the five lots went for a total of £826,000 compared with the pre-auction guide price of £630,000.
“Lots 1 and 5 were bought by people from away looking to develop the sites while 2 3 and 4 were bought by local farmers.
“This was a great result and a good indicator of local land values. It just goes to show that with realistic guide prices, figures above expectations can be achieved.
“The sale figures were a testament to how well the property had been farmed by the Van Nievelt family and the attractive setting with views to May Hill all contributed to the high level of interest.”
Matthew went on: “While small parcels of land adjoining urban centres would be expected to attract high values, the fact this strictly rural sale achieved almost £200,000 more than the asking price indicates rural property values are holding strong through 2016”.
Bruton Knowles have over 150 years’ experience of selling properties by auction and any parties who have a property they think would benefit from such a process are asked to contact us for a free market appraisal. Bruton Knowles have further property auctions coming up throughout the year and interested parties are asked to contact Matthew Peters or Ben Compton.