The Allendale Centre in Wimborne was over flowing with bidders competing for building plots and renovation projects at our first property auction of the year on 1 March.
Auctioneer Mark Lewis was very pleased to see so much demand not only from local buyers, but also from those travelling from further afield including the Home Counties “We had an excellent catalogue with a number of development sites in East and Central Dorset and the response to the intense and widely spread advertising was strong.
"Selling by auction allows the buyer to exchange contracts as soon as the hammer falls and a binding contract is formed. It means that often prolonged negotiations are negated and this allows proper transparent competition. Both buyers and sellers are invariably delighted.
“Some of the prices were well ahead of expectations including a workshop in Bournemouth. This had failed to sell in four London auctions but we were inundated with enquiries. Thirty-two people registered for the legal pack and strong bidding took the price 45% above the guide.
Other notable lots included a development site in Wimborne which sold 31% above guide and a site for a bungalow in Corfe Mullen selling at 51% above guide.
The star lot however, was in Charlton Marshall. This was a site for two semi- detached 4-bedroom houses set in about 0.29 acres. Guided at £195,000, I immediately received a bid at this figure and frantic bidding quickly took the price above £200,000 and then £300,000 and after forty bids the hammer fell at £385,00 - 97% above guide. The buyer also exercised the option to buy the adjoining 1.2 acres for £35,000.”
Symonds & Sampson hold monthly property auctions and to find out how they can auction your lot please contact Mark Lewis 01258 473766 or Meredith Holmes 01202 843190. Click here for details of forthcoming auctions.