Auction results: High prices for land under the hammer
Date of Article
Apr 08 2011

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Land is most certainly in demand right now, as the results of Carter Jonas latest property auction in Oxford proves.  Eleven acres of land at Old Boars Hill exceeded its guide price by nearly 50 percent last night, selling for a breathtaking £147,000.  The sale, at The Oxford Centre in Oxford, included several plots and properties, most of which met or exceeded expectations. 

“We have received a huge amount of enquiries in the run up to the auction, particularly in the land parcels, so we anticipated a lively sale,” says Jonathan Perks, rural surveyor for Carter Jonas.  “However, I think such a surprise result is indicative of how highly land is valued as an investment right now.”

The Boar’s Hill plot was the first under the hammer and, with a guide price of £80,000 to £100,000, sold for £147,000.  This single field with long road frontage slopes gently and has significant views of The Ridgeway.

Next up was The Anchorage at Minster Lovell, a brick-built bungalow needing complete modernisation in a plot measuring 0.29 of an acre. It sold for £178,000, well above the £130,000 to £160,000 guide price.

Another refurbishment property, The Old Bakery, a single storey, versatile building near Faringdon, comfortably met its guide price and sold for £40,000.

Closing the sale was sheltered, permanent pasture bounded by a stream at Headley, near Thatcham, which sold for £60,000 and had a guide price of £55,000 to £65,000.

Auctioneer Kit Harding, was impressed with the turnout, particularly from the rural community:  “I don’t see any sign of the enthusiasm letting up just yet because pasture land can either be used by its owner for keeping livestock or let to neighbouring farmers or horse owners, who are always crying out for land close to where they live.”

For more information, contact Carter Jonas on 01249 706070 or email auctions@carterjonas.co.uk