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Auction Estates has secured the sale of land in Atherfield for over £1M

Auction Estates has secured the sale of land in Atherfield for over £1M

01 September 2020

Nottingham based Auction Estates has secured the sale of three parcels of land totaling just over 2.9 acres off military road in Atherfield for over £1,000,000

Having previously offered the sites for sale with local agents, the UK based seller wanted the sale to be conducted by Public Auction to ensure both a quick sale and that the maximum sale price was achieved.

The 29 acres were offered as three plots, namely The Bungalow site at 5.82 acres and with a Guide Price of £350,000+. The main site, with planning consent for 63 lodges was offered at a Guide Price of £650,000+ and the final parcel was 9.94 acres offered at £125,000+.

The bungalow site was sold to a UK based couple who plan to relocate to the island and build their dream home with the land being enjoyed by their horses.

The two remaining sites have been purchased by a London based investment company whose plans for the 23.5 acre site are as yet unknown.

Paul Giles of Auction Estates commented “We were delighted to be instructed by our long standing client to sell his land on the Isle of Wight, especially after several deals on the open market had proved abortive. Both sales were concluded in a matter of weeks and being ffered on auction contracts, the sales were documented on unconditional contracts and with completions in September.”

Auction Estates sell all types of property across mainland UK and are now taking entries for their next auction on 8th October.