The Under the Hammer column with FSS Property
A parcel of grazing land at Waterside in Knaresborough has sold at auction for an incredible seven times its guide price after some thrilling bidding in front of more than 200 people.
The 2.5 acre plot was just one of a number of highly sought after lots at FSS’s packed March auction at Pavilions of Harrogate.
The land adjoining the River Nidd had sparked massive interest ahead of the auction. It was listed with a guide price of £20K and, after some tense competitive bidding, sold for an incredible £145K.
Richard Smailes said: “We knew from the number of viewings we’d had that it would be popular and there was a tremendous feeling of excitement throughout the room as the numbers kept going up.
“This was a perfect example of how an auction setting can really help the seller achieve the best possible price.”
Another top performer was a three bedroom semi on Norwood Grove in Jennyfields, Harrogate, in need of modernisation.
This doer-upper was listed with a guide price of £120K and sold for £186K.
A three bedroom flat on Cornwall Road in Harrogate’s exclusive Duchy area also exceeded its guide price, selling for £225K, and a terraced house in Ripon, currently split into apartments, sold for £277,500 – more than £50K above the guide price.
On Knaresborough Road in Harrogate, a duplex apartment in need of refurbishment exceeded its guide price by more than £40K, selling for £131K.
In addition to development and buy-to-let opportunities, the March auction included a significant proportion of well-presented, ready to move into properties.
These included an attractive limestone cottage in Bishop Monkton which achieved its guide price of £320K and secured a quick sale for the owner.
Richard said: “One of the top reasons for choosing to sell at auction is that the seller can have the money in their bank within weeks.
“When the hammer falls, contracts have exchanged and the deal is done. A lot of people are attracted by that certainty.”
Another ready to move into family home in Borage Road in Harrogate sold for just above the guide price at £259K.
The FSS auction usually throws up a couple of interesting character buildings and this one was no exception.
A rustic brick former workshop in Tockwith with planning approval for five dwellings and two flats achieved its guide price of £290,000 and a one bedroom apartment in a Grade II listed building in the centre of Knaresborough exceeded its guide price of £60K to sell for £67K.
Richard said: “The huge turnout of people was no surprise given the variety and quality of lots in this month’s auction catalogue and there is absolutely no doubt that the enthusiasm of the crowd helped to create a gripping atmosphere and some fantastic results for our clients.”