Carter Jonas staged its first ever property auction in Oxford last night and received an excellent turnout with active bidding on all lots.  Oxfordshire properties Daisy Hill Barn, a renovation project at Duns Tew, sold for £97,000, almost breaching the upper limits of its guide price, and an Abingdon office suite achieved expectations, selling for £265,000. 

After a 14 acre parcel of pasture at Baughurst, near Tadley, went for £120,000 – 50 per cent above its guide price – at a Carter Jonas sale in July there was quiet confidence that two plots at Burghclere would promote similar excitement at the firm’s first collective property auction to be held in Oxford.

This time, enthusiastic bidders battled it out over the 8.56 acres at Burghclere during the Thursday evening sale at The Oxford Centre and parted with a total of £129,000.

The most spectacular performer in terms of price per acre was the first of the two lots, just 1.61 acres, which realised the staggering amount of almost £25,000 per acre when the hammer fell at £40,000. The remaining 6.95 acres went for £89,000, a pretty impressive £12,805 per acre.

Simon Pallett, no stranger to the role of auctioneer, described the bidding as enthusiastic thanks to the good attendance from prospective buyers that meant that all but one of the eight lots was sold, raising a total of £1,273,000 on the night.

Top selling property was Hazelbury Farm at Baydon near Marlborough, consisting of a detached 1930s house with outbuildings and 8.65 acres, which sold for £582,000, above the guide price of £525,000 to £575,000.

Even a dilapidated cottage at Shyshack Lane, Baughurst, proved attractive to bidders, eventually selling for £168,000 when the guide price had been £120,000 to £150,000.

“The success of this first Oxford auction shows the appeal that auctions should have for property owners who have something unusual or land for which there is strong demand,” added Simon.

“I am not seeing any reduction in buyers for pasture paddock although I had not anticipated getting to around £25,000 per acre for the land at Burghclere, even with the combination of high value housing in the area, the enthusiasm for riding locally, and the sparse opportunities for buying pasture in the open market.

“We are planning another Oxford sale for December and auctions manager Arthur Chambers is now actively seeking lots for it.

“Vendors’ enthusiasm is spurred by the fact that when the hammer falls the contract is made and completion normally comes within 28 days.

“It’s essential that realistic guide prices are set as this draws a good number of bidders and we see great results, as the Oxford event clearly demonstrates.”

Carter Jonas Auctioneer Simon Pallett described the bidding as enthusiastic thanks to the good attendance from prospective buyers.  All but one of the eight lots was sold, raising a total of £1,273,000.