Norfolk boatyard sells at auction for almost double expected guide price

The former Alphacraft Boatyard on Reeds Lane in St Olaves sold for £360,000

The former Alphacraft Boatyard on Reeds Lane in St Olaves sold for £360,000 - Credit: Auction House East Anglia

A former boatyard, described as having "tremendous regeneration potential," has been sold for almost double the price it was expected to fetch at auction.

The former Alphacraft Boatyard in St Olaves, Norfolk, went under the hammer as an auction was held online on Wednesday, October 20.

Marketed by Auction House East Anglia, the former boatyard on Reeds Lane in St Olaves had a guide price of £200,000 to £250,000 plus fees.

The marine property, which extends to 4.25 acres, was sold on a freehold tenure.

The former Alphacraft Boatyard on Reeds Lane in St. Olaves sold at auction

The former Alphacraft Boatyard on Reeds Lane in St. Olaves was sold at auction. - Credit: Auction House East Anglia

Situated in the Norfolk village - between Great Yarmouth, Lowestoft and Beccles - the property description from the auctioneers said the former boatyard has "substantial River Waveney frontage."

It added: "Reeds Lane is home to a number of marine related business and at the far end is this former boatyard offering tremendous rejuvenation potential."

The former Alphacraft Boatyard on Reeds Lane in St. Olaves sold at auction

The former Alphacraft Boatyard on Reeds Lane in St. Olaves was sold at auction. - Credit: Auction House East Anglia

With the site also containing "an array of boating paraphernalia, equipment and machinery" it was sold as seen, with two derelict workshops and an office building.

The former boatyard was sold on a freehold tenure for £360,000 - well above its expected guide price.

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