Auction: Unbroken property auction record continues

COTSWOLDS estate agent Moore Allen & Innocent has maintained its unbroken record for selling property at auction with a £1.25 million four-lot sale.

At the Cirencester auction, Roy Bowyer brought down the gavel on four lots – three houses and a parcel of land.

The £1,265,000 sale brought to £5 million the value of properties sold at auction by the firm during 2018 – and there is still one more auction to go.

Lot 1, a double fronted, three-bedroom Victorian town house in Lechlade High Street achieved £240,000 against a guide price of £220,000, while a detached coach house and separate bothy at Chedworth, with planning consent for a single residential dwelling, passed the £320,000 guide price to settle at £350,000.

A parcel of amenity land at the rear of City Bank View in central Cirencester was sold prior to auction, after the vendor accepted an offer of £25,000 – five times the guide price.

And on cloud nine was airline pilot Duncan Smith, whose pre-auction offer of £650,000 – giving comfortable clearance over the £525,000 guide price – was accepted for a detached chalet style bungalow with paddocks and outbuildings at Southrop, near Lechlade.

Despite his offer being accepted, Mr Smith, his wife Kelly, and children Juliette (3) and Rupert (1) were still keen to attend the auction.

"I couldn't hold my nerve," admitted Mr Smith after the sale.

"We've outgrown our 200-year-old terrace house in Chipping Norton, and really wanted this property."

The house is set within over 2.3 acres of land.

Mr Smith hopes to obtain planning permission to demolish the bungalow, which is in need of renovation, and build a new family home on the plot.

"Five weeks ago we weren't even looking to buy," said Mr Smith.

"Then I approached a mortgage lender, got a loan approved, and started making enquiries."

Auctioneer Roy Bowyer, of Moore Allen & Innocent, said: "Public auction is the most suitable method of sale for many types of property, particularly those in need of renovation.

"Moore Allen & Innocent are one of the only estate agents in the Cotswolds to offer this service, and we're delighted to have sold £5 million of property in 2018 – with still one auction to go.

For more information about buying and selling properties at auction, contact Roy on 01285 648100 or at roy.bowyer@mooreallen.co.uk