Bidding war breaks out as land where house was demolished sells for double the target price
A tender has erupted as land in a North Essex village where a house was demolished more than 60 years ago went under the hammer.
The land, on the south side of The Street in Bradfield, went under the auctioneer’s hammer for £62,500.
The final figure was more than double the freehold guide price for the vacant site.
It was among 112 lots in the latest auction held by Clive Emson Land and Property Auctioneers on Thursday.
Regional manager and auctioneer Paul Bridgeman said: “This one exploded with strong pre-sale interest which resulted in buoyant bidding.
“Although we are not aware of the new owner’s intentions for the land, which is 0.02 acres in size, it is in a residential area and a house once stood there.
“In fact, we were informed that a residential dwelling was demolished around 1960 and that the land has remained free since, with the exception of a private parking lot.
“We considered that the land may offer potential for development or alternative uses, provided that all necessary consents can be obtained.
Clive Emson Auctioneers hold auctions eight times a year with the next online auction on Thursday June 16th.
See liveemson.co.uk for details.