Land within business park sells at auction for above guide price

Land within Reydon Business Park is set to be auctioned off

Land within Reydon Business Park is set to be auctioned off. - Credit: Auction House East Anglia

A plot of land within a business park smashed through its asking price at auction.

The land off Fountain Way at Reydon Business Park went under the hammer as an auction was held online last Wednesday, July 27.

Land within Reydon Business Park is set to be auctioned off

Land within Reydon Business Park is set to be auctioned off. - Credit: Auction House East Anglia

Marketed by Auction House East Anglia, the land had a guide price of £70,000 to £100,000 plus fees, but went for £125,000.

The property description from the auctioneers described it as a "great opportunity" as it was sold on a freehold tenure. 

Described as "land within Reydon Business Park with planning consent for commercial development" to the east of Reydon, near Southwold, the property description from the auctioneers said the land measured "approximately 0.18 acres" with "planning consent for the development of two commercial units (B1 and B8 uses).

"The units will sit within a single building which extends about 2,300sq ft (220sq m) and will benefit from an office mezzanine across both units.

"Great opportunity for both commercial and domestic applications, and there is no VAT election on the purchase."