Empty Plot Of Land Reaches £225,000 At Auction.

Lyme’s Marine Parade in West Dorset had an empty plot of land entered into auction at a guide price of £40,000. This guide price was shattered when the plot of land reached a staggering £225,000 at auction. The price was well above what anyone expected for the parcel of land.

The former 14 and 15 Marine Parade site was put up for a public auction by West Dorset Council. The plot had planning permission for a house, a shop and a flat above. According to Paul Landbridge-Berry, the manager of Symonds and Sampson in Axminster, the price of the site reflected what people are willing to pay for a prime location on Lyme’s seafront. He felt that the guide price was realistic but felt pleased that the site sold for so much due to the number of properties that are selling for the guide or just over. As expected the client was very happy with the outcome of the sale. It just goes to show that a plot of land will still sell well if the location is right, even in these economic times.

The plot has planning permission for a three bedroom house at what was previously number 14, at number 15 has planning permission for a ground floor shop with a two bedroom flat above. The plot offers a very good investment.

Before going to auction the council had offered the site to a registered social landlord in the hope that potentially affordable housing could be developed there. However this idea was dismissed due to it being considered unviable, high development costs on a restricted site.

Mr Longbridge-Berry agreed that whoever has bought the site would find developing it a challenge. He feels that although it will be excellent once developed, inconvenience to the neighbours and visitors would have to be taken into account whilst work was ongoing.

The properties were demolished in 2000, they were formerly occupied but due to land instability they were deemed unsafe. The owners were forced to abandon their homes when cracks began to appear. Due to the Public Health Act, the council had to order them to leave. In 2007 ground stabilisation works were completed but the site has remained vacant. Obviously West Dorset District council are pleased with the outcome of the sale. The profit has gone towards the cost of stabilising the buildings which would have cost quite a lot of money to begin with.
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