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Property auction raises over £630,000

Image representing Property auction raises over £630,000

13 March 2019

Image of people bidding at auctionOver £630,000 has been raised at an auction that sold nine council properties, the county council has said.

Powys County Council had declared a number of properties surplus to its requirements and put them forward for sale by auction.

The auction, conducted by local auctioneers Brightwells Ltd (Builth Wells), was held at the Metropole Hotel in Llandrindod Wells on Tuesday, March 6.

Attended by upwards of 120 people, it also attracted internet bidders from across the UK using Brightwells' live internet bidding portal and even one caller from New Zealand.

The properties that were sold at auction were:

  • 5 Conway Street, Brecon - £192,000
  • Former school building, Staylittle - £104,000
  • Llanidloes Library, Llanidloes - £65,000
  • Hazeldene, Garthmyl - £63,000
  • 19 Old Kerry Road, Newtown - £57,000
  • 12 Foundry Terrace, Llanidloes - £52,500
  • 14 Foundry Terrance, Llanidloes - £47,500
  • 7 Foundry Terrace, Llanidloes - £45,000
  • Former quarry at Rhos Y Brithdir, Llanfyllin - £5,000

The former council yard in Machynlleth and 27 Old Kerry Road in Newtown were withdrawn from the auction and will be remarketed by Brightwells in due course while the former library building on Builth Wells' High Street did not sell as the reserve price was not met.  It is understood the auctioneers are in talks with interested parties and may report a sale in the coming weeks.

Cllr Phyl Davies, Cabinet Member for Assets, said: "I'm delighted that there was high level of interest in these properties and the results demonstrate the effectiveness of offering properties for sale by public auction. Their sale has raised a significant amount for the council, which will help its financial situation.

"The sale of these buildings provides opportunities for developers to create refurbished homes for either owner occupation or rented accommodation. It will also stimulate the local economy by providing the conditions and opportunities needed for investors to develop their business models.

"We will certainly be looking at what other properties may be appropriate for sale by auction in the future."

Irving Parry, Brightwells Chairman, said: "We are delighted with the attendance and results achieved at the auction and would like to thank Powys County Council for instructing Brightwells to market these properties.

"As a local estate agent and auctioneer, the support of the council is greatly appreciated, and we look forward to working with them in the future."

 

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