Auctions are an extremely effective method for land transactions. They provide a dynamic approach to securing the best price for your land, whether you’re selling a prime building plot, a picturesque amenity parcel or acres of agricultural land.
Selling land at auction allows for competitive bidding, which can potentially raise the final sale price beyond your expectations. So much so, that land often sells for higher prices at auction compared to traditional methods of sale.
Location, acreage, and buyer interest are pivotal in determining arable land prices. While some parcels may command premium prices, others could offer more affordable entry points for buyers. Engaging with an experienced surveyor is crucial to accurately ascertain the plot’s history and nutrient profile, information which can influence the final price.
Auction Surveyor, Robert Hurst, comments: “We have successfully sold plots ranging in size from 0.1 acres in Hingham selling for £8,000 to 27 acres in Watton selling for £275,000. Prices also vary hugely from £3,000 to over £200,000 an acre. Many people see the amenity value of land as higher than its agricultural value, showing that auction is often the best way of establishing the appropriate value of land that would otherwise be difficult to ascertain.”
Among these successful sales, a couple in particular demonstrate the power of the auction process.
The sale of a unique plot located off Moorhall Causeway in Eye in Suffolk during a recent auction is a fantastic example of auctions' effectiveness in identifying a land plot's true value.
A former railway carriage situated in three acres, guided at £180,000 (plus fees), proved popular among bidders and exceeded expectations, selling for an impressive £200,000.
On the other end of the spectrum, Land at Heath Road, Banham, Norfolk is a sprawling area of over 15 acres steeped in a rich history of amenity use, particularly for horse grazing. This freehold parcel of land consists of a single field divided into three smaller sections with post-and-rail fencing. Two field shelters have been erected and were also included in the sale.
Launched with an enticing guide price of £160,000 to £180,000 (plus fees), the Land at Heath Road captured the interest of buyers and was successfully sold prior to our May auction. This rapid sale demonstrates the strong demand for this type of agricultural land remains.
Our Auction Surveyor, Robert Hurst, continued: “With the agricultural sector facing significant challenges due to low prices, high input costs, reduction in subsidies and changes to agricultural property relief, we envisage more parcels of land coming to market.
“Our results show there is a demand for land of all sizes and if you have a parcel of land to sell or you are on the lookout for your next land purchase, do consider auction and get in touch with us.”
View our current lots on our website or contact our team to discuss how we can help.
