Derelict cottage with permission to extend fails to sell at auction
Town Meadow Cottage, Stuston, failed to meet its reserve at Brown&Co's recent online auction - Credit: Brown&Co
A Grade II listed cottage in Stuston, north Suffolk, failed to sell at auction this week - despite it having been granted planning permission to create a new contemporary extension.
Town Meadow Cottage on Stuston Road dates back to the late 17th to early 18th century and is Grade II listed, which means it cannot be demolished, but last year Mid Suffolk District Council granted permission to extend it.
A spokesperson for Brown&Co, handling the sale, had described it as a "complete renovation project" but with a guide price of £180,000-£220,000, it failed to reach its reserve and when the final gavel fell, it remained unsold. It is, however, expected to appear in Brown&Co's September auction.
Although derelict inside, Town Meadow Cottage has planning permission to extend it and is expected to appear again in Brown&Co's September auction - Credit: Brown&Co
Six other lots did sell during the auction on Wednesday, July 20 , including an idyllic three-bed cottage in Northrepps, near Cromer in Norfolk, for £343,000 - well above its guide of £250,000-£275,000 - and another one-bedroom brick and flint cottage in the same village, which sold for £212,000.
Other good results included a residential development opportunity at the former auction rooms on Church Street, Hunstanton, which sold for £159,000, and amenity land at Barford which sold for £122,000 compared to a guide price of £65,000-£85,000.
Peter Hornor, auctioneer and chartered surveyor at Brown&Co, said: “We are delighted at the results of this auction; highlights were of course the cottages in Northrepps and the sale of amenity land in Barford; this went for more than £50,000 over the guide price.
The Old Clubhouse, Northrepps, sold for £343,000 – well over its guide price of £250,000-£275,000 - Credit: Brown&Co
“It shows the flexibility of our online auction model; even though we are in the midst of summer, and people are on holiday, they can still bid from wherever they are.”
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The next Brown&Co online auction is on July 27 with bidding opening on July 26 at 11am.
For more information contact Peter Hornor or Trevor Blythe at Brown&Co on 01603 629871 or see www.brown-co.com
