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Land prices giving grounds for optimism

This home in St Peter's Place in Canterbury sold at auction for £140,000.
This home in St Peter's Place in Canterbury sold at auction for £140,000.

LOTS of land was a feature of last month’s Ward & Partners auction - but there was barely enough, it seemed, for interested bidders.

"Anything with a bit of land was snapped up, often before the auction itself," commented David Allen, director of Ward & Partners auction division.

"Auction is often a reliable feather in the wind when it comes to the rest of the property market, and our latest auction would seem to reflect the resurgence of the residential market that is also being seen in all our offices across the south of England.

"In this renewed market, we witnessed some truly astounding results with regard to lots with even a small parcel of land - what can really best be described as a rush. In two cases we even had mini-auctions for particular lots taking place before the auction itself. Building land was especially popular.

"Realistic guide prices undoubtedly helped, and we continue to advise vendors to consider prices very carefully as being key to a successful sale on auction day."

A garage at Shakespeare Road, Gillingham also sold prior to auction. Guided at £20,000 to £30,000, the unusual site offers an interesting residential development opportunity, subject to consents. Set between two terrace houses, it is thought to replace a house destroyed during the Second World War.

It was the same story for building land in Westerham - a detached bungalow in Singles Street, Downe was sold before auction. The two-bedroom bungalow, guided at £130,000-plus, comes with permission for demolition and rebuilding. An authorised plot of land in Culverstone guided at £125,000 to £150,000, also sold prior.

A building plot off Maidstone Road, Rochester, near Junction 3 of the M2, sold at £66,000 against its guide price of £50,000-£60,000.

Even when there was no possibility of building, land was still popular. An acre of woodland behind Maidstone Road, Chatham, sold prior to auction well in excess of the upper guide price of £20,000.

A fine investment opportunity in central Canterbury sold well at £140,000. Guided at £125,00-£150,000, the well-presented, three-bedroom city home in St Peter’s Place is near Kent University and ideal for letting.

Finally, an interesting renovation project in central Sheerness provoked a great deal of bidding before selling at £82,000 against its guide of £70,000-plus.

Just off the high street and seafront, this mid-terrace house was on the market for the first time in more than 70 years - with some updating, just ideal as a first-time buyer’s home or as a builder’s project.

The next auction of Ward & Partners is on April 3 at the Ramada Hotel, Hollingbourne, Maidstone. For more details call the catalogue hotline on 0906 558 1288 or e-mail auction@wardandpartners.co.uk.

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