Derelict Lyme cottage sells for ‘staggering’ £203,000

PUBLISHED: 09:49 12 April 2020 | UPDATED: 07:40 13 April 2020

This derelict cottage in the centre of Lyme Regis, fetched �203,000, Picture: S&S
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This derelict cottage in the centre of Lyme Regis, fetched �203,000, Picture: S&S .

Archant

A derelict cottage in Lyme Regis has sold for a ‘staggering’ £203,000 - more than three times its guide price.

Bundels,  at  Musbury, sold for £241,000 - seven per cent above guide price. Picture: S&SBundels, at Musbury, sold for £241,000 - seven per cent above guide price. Picture: S&S

And a cottage at Musbury also fetched more than expected at the Symonds and Sampson auction.

Undoubted star of the show was an attached derelict cottage in the centre of Lyme Regis, with a guide price of £60,000.

The fact that the building was unsafe and could not be viewed internally did not deter potential buyers.

The hammer fell after 97 bids at £203,000 - a ‘staggering’ 190 per cent above the guide price.

At the same auction, Symonds and Sampson’s second since the Covid -19 pandemic restrictions - Bundels, a three-bedroom detached cottage in Musbury, sold for £241,000 - seven per cent above guide price.

And The Old Mill, Honiton, an historic Grade II Listed building with attached cottage needing full renovation and restoration, sold for £90,000.

Residential partner Steve Allen said: “When we initially launched this auction, buyers were allowed to view properties, but since the lockdown interested parties had to rely on photographs and our descriptions and were therefore effectively bidding blind.

“This did not deter interest however, and the results were outstanding with 54 registered bidders from 12 counties and lively interest throughout the auction.”

Amongst other properties sold at the auction which fetched much more than expected was Montyike, in the village of Chideock.

The Grade II Listed four-bedroom end of terraced cottage, in need of complete refurbishment, sold after 55 bids for £199,000 - 60 per cent above the guide price.

Symonds and Sampson’s next collective property auction is due to take place on April 24, when a range of development, commercial, residential and agricultural lots will come under the hammer.

The company is also taking entries for its forthcoming sales in May and June this year.

For full details visit the website at www.symondsandsampson.co.uk or contact Mark Lewis at Symonds and Sampson on 01258 474266.


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