April 14, 2024

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Small parcels of land sell for up to £25,000 an acre at Shrewsbury auction

Small parcels of land in Shropshire, Wales and Worcestershire were in high demand, selling for nearly £25,000 an acre at a successful auction in Shrewsbury on Friday.

Seven of the 10 lots included in auctioneers Halls’ £700,000 property and land auction in Shropshire were sold. Top price of £239,000 was secured for Coed–y–Wye, Alkington Road, Whitchurch, a spacious, detached bungalow on a corner plot,  from a Devon buyer.

 Smashing its guide price, the bungalow needed full renovation and modernisation. The accommodation comprised a hall, lounge, dining room, kitchen, three bedrooms and a bathroom, with an attached garage, W.C, store, potting shed and front and rear gardens.

It was a good day for Whitchurch lots as two small parcels of land at Alkington Road, Whitchurch, one extending to nearly four acres and the other, adjacent to The Fields, covering four-and-a-half acres, selling for £102,000 and £68,000 respectively.

Top selling land lot was a 10-acre arable parcel with good, roadside access off Doverdale Lane, Doverdale, Droitwich, which sold for £129,000.

There was also keen competition for two parcels of land at Isycoed, near Wrexham. Five-and-a-half acres of pastureland adjoining Light Oak House made £82,000 and  two-and-a-half acres of productive pasture on the west side of Cobham Cottage, made £57,000.

Reputedly the second oldest barbers shop in England, 15 & 15a Shropshire Street, Market Drayton, sold for a ‘snip’ at £20,000. The three-storey, commercial property, dating to the 16th century, was used by barbers from 1810 until recent years.

Needing extensive improvements and renovation, the property comprised a basement, ground floor with two rooms, first floor with two rooms and a W.C. and second floor with two rooms.

Auctioneer Allen Gittins, Halls’ chairman, said: “Small parcels of land are often very difficult to value and the best way to sell them at their true market price is by auction. There was a huge amount of interest in all the small parcels of land in the auction and consequently they all exceeded their price guides.

“Many people with money in the bank are choosing to invest in these small parcels to own their own little piece of England or Wales.

“Any property that is slightly different or needing renovation and particularly small parcels of land sell best at auction, provided the price guide is right. The beauty of selling by auction is that the contract is signed on the day.”

To enter property or land in Halls’ next auction on April 26, contact Halls on 01691 622602.