Estate sells pre-auction at 11th hour
MOYNS Park, the 414-acre estate on the Essex/Suffolk border that was due to go under the hammer, has been sold at the last minute before auction.
When the property was offered on the open market last year for over £7m there were no takers, spurring agents Strutt & Parker and FPDSavills to consider the option of a public sale with the much-reduced guide price of £4.5m.
S&Ps Mark McAndrew said this was exceeded, but couldnt comment on how much. He was also tight-lipped about the new owner, although according to local speculation he is a private English individual.
But further north, two properties will definitely go to auction. In Cheshire, Jackson-Stops & Staff is selling Brookhouse Farm at Little Budworth on Aug 1. Extending to 333 acres and split four ways, the holding has already attracted plenty of interest, according to the firms Stephen Cheshire.
"People have asked if some lots could be sold privately but the vendors have decided it will go to the room." The agent is guiding lot 1, a five-bedroomed house and buildings in need of modernisation plus 276 acres of grassland, at £750,000-£1m. Lot 2, Outside Farm, features a derelict period house, a modernised cottage and 16 acres and is expected to fetch £300,000.
Leics-based agent Fox Bennett & Hackney has just launched the 340-acre Coton Priory Estate near Market Bosworth, and again the vendors are looking for a public sale, this time on Jul 25, according to agent Richard Newey. "The preference is for it to be sold as a whole. If the reserve isnt reached it will then be offered in lots."
The estate is tagged at £3m, although Mr Newey says this hasnt deterred producer interest. "So far I would say viewings have been split 50:50 between farmers and non-farmers." Much of the value is locked up in a timber-framed 16th century listed four-bedroomed dwelling and a range of Grade 2 listed barns. Arable soils are pegged at £2500-3000/acre. *