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Stackyard News Oct 08

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    Buyers Still Searching for Unique Renovation Projects

Dumbleton, one of the prettiest villages in the Gloucestershire Vale, bucks the trend yet again with the sale of an attractive three bedroom detached lodge for renovation reaching above the guide price and selling at £400,000.

North Lodge, Dumbleton
Acting for long-standing trust clients Fisher German’s Worcester office offered the property for sale by auction at one of its autumn sales on 15 October 2008, coinciding with the moment that Governments across the world placed a calm and reassuring hand on the financial markets.

Anthony Mayell, the auctioneer on the day, commented “Judging from the packed auction room there are buyers in the market with private capital who still relish the challenge of a renovation project and long for the opportunity to put their own mark on a property”.

Dumbleton is an archetypal Gloucestershire village with a Norman church, primary school, delicatessen and sports clubs fostering a strong village community. Dating from the turn of the century North Lodge was the former lodge to Dumbleton Hall and offered bidders a solid and reliable home for their money with attractive brick and stone features, splendid chimneys, and bay windows set within an iron railing fence, all typical features of that era. With views over two fields in one direction and two counties in the other, a small copse of mixed broadleaf trees, and paddock with magnificent oak trees, the setting suits a house of greater stature.

Richard Hutcheon of Fisher German’s Worcester office organised the sale and concludes “Mindful of the financial turmoil, purchasers had clearly set themselves bidding limits, but were no doubt looking for a long-term investment. In an uncertain country property market where the small volume of sales nevertheless provide price comparisons for houses of similar character and size, some vendors are taking time to come to terms with the downturn. For properties in need of renovation price comparisons are less easy to find and Wednesday’s auction suggests that buyers still listen to their heads and their hearts”.

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