A three-bedroom bungalow set in the heart of Wandlebury Country Park, Cambridgeshire, far exceeded expectations when it sold for £1,010,000 at the Cheffins property auction on Wednesday 27th September.
With a pre-sale estimate of £650,000 - £700,000, the bungalow was in need of full refurbishment but included a separate self-contained annexe and a detached outbuilding, as well as extensive gardens and grounds, set within the Wandlebury Ring Walk. Multiple bidders fought for their chance to own the property which sits in a rarely available location, showing that there remains significant strength in the market for properties that have a wow-factor.
Bungalow at Wandlebury
Another headline lot was a vast abandoned Victorian mansion just outside of Longstanton. Following a number of fires at the property, the house has been uninhabited since the 1950s and sold for £445,000. Redlands attracted significant pre-auction interest, with buyers intrigued by the challenge offered by the fascinating site. Similarly, a detached rural cottage set on the Great Fen Road, just outside of Soham, Ely, which needed complete restoration/replacement sold for £180,000. Two former Methodist chapels, one in Tempsford near Sandy and one in Great Barford, both in Bedfordshire, were sold for £192,000 and £100,000 apiece.
Ian Kitson, Director, Cheffins, comments: “The two headline lots in Wandlebury and Longstanton ensured we had a completely packed auction room on sale day. With well over one hundred bidders in attendance, the atmosphere was electric when both of these fantastic lots went under the hammer. The popularity of the residential opportunities goes to show the demand in the market for doer-uppers and project properties, and how there are still a healthy number of investors out there looking to park their money in bricks and mortar.”
Cheffins’ property auction grossed around £10,000,000 in 2022, throughout the East Anglia and Mid Anglia regions.
For further information, contact Cheffins Property Auction team on 01223 213343, property.auctions@cheffins.co.uk