Cheffins’ first property auction of 2019 achieved an 82 per cent sale rate and strong prices on 13th March in Cambridge.

Barns with development potential had the most active interest, including a 17th century Grade II listed barn set in four acres in Great Yeldham, near Toppesfield, Essex, which sold for £160,000. Similarly, a detached agricultural barn offered in Fenstanton, near Cambridge, with planning permission for conversion into two large residential dwellings made £294,000.

Income-generating properties also were popular. The highest price achieved on the day was £435,000 for a development site on Argyle Street, central Cambridge which includes two storage spaces and a workshop close to Mill Road.

The more unusual lots also sold well. For example, 4.75 acres of mature woodland, suitable for amenity use near Wethersfield, Essex, was sold for £63,000, well over its guide price of £45,000.

Ian Kitson, Director, Cheffins said, “The March sale showed that there is still good demand for sensibly priced property throughout the region, despite the current political landscape. This shows the growing popularity of the auction room as a go-to situation to purchase property and the confidence in the regional market.”

The next property auction is on Wednesday 19th June.