£50,000 for 0.85 acres and no development

A piece of amenity land smaller than one acre has been sold at auction for £50,000 in Nottinghamshire.

The plot, on the edge of the village of South Clifton near Newark, had been guided at £15,000-25,000 for its London-based owner, but benefited from widespread national investment interest in land at a time when other traditional investments are returning very little interest, said Savills’ Paul Giles.

The land was just 0.85 of an acre and surrounded by mainly agricultural land. Local planners ruled out any form of development on the site. (Savills 0115 934 8054)