Bidding war as small parcel of Luton land sells at auction for £32,500 - six times its guide price
An online bidding war erupted last week over a small parcel of land in Luton which sold for six times its guide price.
The piece of land on Hawkfields in the Bushmead area was sold on Wednesday, September 23, for £32,500.
The 0.01-hectare (0.02-acre) plot was among a record 137 lots in the latest auction held by property auctioneer Clive Emson Land and Property Auctioneers.
Auctioneer Paul Bridgeman said: “Parcels of land, particularly in residential areas, generally do well at auction – but this one really took off and made for exceptional online auctioneering.
“We had strong bidding which drove up the sale price as our bidders recognised that the land may offer potential for alternative uses, subject to all necessary consents being obtainable.”
The land at Hawksfields is close to bus routes, Bushmead Community Hub, as well as schools and colleges.