An 'incredible' trade was reported by auctioneers Halls as 48 acres of pastureland near Shrewsbury sold for £12,300 an acre at the first property auction to be conducted at the company’s recently opened salerooms in the town.
Bidding began at £350,000 and rose very swiftly to the selling price of £590,000 at Halls Holdings House, Battlefield, Shrewsbury yesterday (Tuesday).
The land at Ebreywood, near Astley, which included two acres of amenity woodland, generated great interest and a substantial number of prospective purchasers attended the auction.
Auctioneer David Giles said the auction result underlined the strong demand for land, which looks set to continue with a dearth of land available.
“Whereas in the past, most interest has usually been expected for more affordable blocks of land, we now have reached the stage where size is somewhat irrelevant,” he added. “We are finding that the larger the area of land on offer, the more interest that often ensues.”
He advised landowners, who are considering selling property, to take advantage of the buoyant market and seek professional advice from Halls.