Demand for small plots of land see two go under hammer for up to £166,000 over guide price

It is a reminder to everyone that the online auction process is a very good way of maximising value for small parcels of both agricultural and grazing/amenity land."
Peter Hornor, Auctioneer, Chartered Surveyor and Partner, Norwich

Two neighbouring plots situated near Attleborough in Norfolk achieved exceptionally high values – one sold for £166,000 over the guide price and the other for £95,000 over its guide.

The plots, situated off White House Lane, Besthorpe, were sold to different buyers.

The parcel of just under 10 acres (four hectares) of agricultural land, free of all encumbrances, having been let in the past under the terms of a farm business tenancy, attracted 78 bids online.

It was for sale for a guide of £70,000-£90,000 – and went under the virtual hammer for £256,000.

However, it was the neighbouring plot of just over 1.5 acres of grazing land which attracted even more interest, with 108 online bids.

It was for sale for a guide price of between £15,000-£20,000 – and sold for £115,000.

For anyone who missed out, however, our Norwich auction team is selling another plot of farmland; 5.5 acres (2.2 hectares) off Foulsham Road, Hindolveston.

This is for sale in our online auction which opens for bidding on November 12 at 11am and is scheduled to end the following day, also at 11am.

Peter Hornor, Auctioneer, Chartered Surveyor and a Partner, based in our Norwich office, said: “It is a reminder to everyone that the online auction process is a very good way of maximising value for small parcels of both agricultural and grazing/amenity land.

“The agricultural land can only be used for that currently – you would need planning permission to do anything else.

“The grazing land attracted a huge amount of interest from painters, people wanting it to play football, all sorts of things.

“The land has a pond and trees; it offers privacy and was an opportunity for someone to own their own piece of England.”

Today’s online auction also saw two properties sold, one in Mulbarton, south Norfolk for £226,000 and a large period house on Unthank Road, Norwich’s Golden Triangle, for £558,000.

Our Norwich team has its next online auction on 29th October, followed by 12th November. Meanwhile, our Lincoln and Retford auction team has its County Property livestream auction on 6th November.

If you are keen to purchase land or a farmer or landowner who wishes to consider selling in Norfolk, please contact Peter Hornor at Brown&Co in Norwich on 01603 629871.

For auctions in Lincolnshire and Nottinghamshire, please contact James Mulhall in our Lincoln office on 01522 504318 or Jeremy Baguley in our Retford office on 01777 712944.

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