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| LAST LAND AND PROPERTY AUCTION OF 2007 SEASON |
Richard Abbey, Partner and Auctioneer of John Earle & Son, convened the firms last land and property auction on Tuesday 13th November at Henley Golf & Country Club, Beaudesert, Henley-in-Arden.
Prior to the evening, the firms agency staff had concluded binding sales on three of the seven Lots originally listed, these being a substantial house known as Fields End, lying just to north of Henley in Arden, 2 improved cottages owned by the National Trust on the former Coughton Court Estate and 3.5 acres of pastureland & stables just south of Snitterfield.
Blounts Hole Farm was not offered, as negotiations were ongoing and a sale has now been concluded, substantially in excess of the guide price.
In the room, Mr Abbey firstly offered the ground floor flat in 18 Warwick Road, Stratford-upon-Avon and after a low start at just £100,000 finally brought the gavel down at £200,000. The final Lot to be offered was The Firs, Bradnocks Marsh Lane, lying between Hampton in Arden and Balsall Common. Although the bidding was close to the reserve, a sale was not concluded but negotiations are continuing with interested parties.
Peter Cornford, from John Earle & Son, concluded after the sale that the firm, during 2007, had experienced on behalf of their clients, a very successful year. A total of 61 Lots were marketed for auction, of which only 8 were not actually sold in the room or shortly after. He was particularly pleased with such a substantial success rate for the firms clients and was very praiseworthy of all the staff and thanked them for their professionalism, enthusiasm and perseverance, particularly this autumn when selling conditions had become a little more nervous after the Northern Rock debacle. He believes that, with the likelihood of interest rates being reduced by the Bank of England early next year, confidence will generally return to the specialist property and land market with people probably looking back in March 2008 saying that prices now have already moved on from their weak position in November and December of last year.
Best wishes from all John Earle & Son staff for a Happy Christmas and healthy and prosperous New Year.
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