June 30th, 2020
Eddisons, through our specialist auctioneers Pugh and Co, was approached by a local council to manage the sale of a detached two bedroom property in the Yorkshire Dales National Park. This particular property was subject to a Local Occupancy Clause. This means that the limited opportunities for new housing development meet local need rather than external demand. Evidence suggests that the market value of properties with a local occupancy clause is reduced by 20-25%.
Due to the nature of restrictions on this building, Eddisons were challenged with managing and delivering an effective marketing campaign of the property which would target the right audience and maximise reach and interest.
This was a successful approach, and we were able to generate strong interest pre auction and achieved competitive bidding on the day.
The instruction was delivered to timescales agreed and Pugh successfully sold the property for £55,000 more than the guide price..