A 19sqm toilet block in Radstock, Somerset, sold for £20,000 in a live stream auction held by City & Rural Property Auctions last week.

The Bristol-based auction house set an opening guide price for the toilet block at £5,000, and the winning bidder bagged the 4-stall block, which sits in the heart of Radstock’s town centre, for £20,000. The single storey building needs some repair and refurbishment, but has potential for a variety of uses, subject to consents. What the new owner has planned for the building is yet to be revealed.

A different lot in the same auction, however, stole the show – an irregular-shaped parcel of land totalling approximately 1.67 acres with circa 125m of River Avon frontage sold for £245,000 against a guide of £60,000 - £80,000.

With riparian rights, potential for 4-5 moorings (subject to consents), and two overgrown vehicular access points, the parcel of land is largely untended but has potential for a range of uses. A competitive bidding war between 23 registered bidders, the majority of whom were interested in the land for its mooring potential, drove the winning bid to more than triple the guide price, with completion guaranteed in 20 working days.

In a fortunate twist of events, the existing landowner had previously agreed a private sale for just £75,000 and when that sale fell through, he turned to auction as he wanted the transaction completed in the current tax year before the next change in Capital Gains Tax allowances. Selling by auction was the perfect choice as the sale is now secured at a higher price within the set timeframe.

Of the other properties in this multi-lot auction, three were sold prior to the event, two were postponed to sell at a later date, and a one-bedroom flat in Weston Super Mare sold at £80,000 against a guide of £50,000 - £75,000. In all, including pre-auction sales, the event raised £1,042,000.

The next City & Rural live stream property auction will be held on 3rd April at 7pm. If you have an unusual property or land to sell, or you want/need to sell to a desired timeframe, auction may be the answer. Similarly, if you’re looking to invest in property, visit www.countryandruralpropertyauctions.com or call the team on 0117 946 4949 to find out more.