The Price of a Location

PENZANCE

In the news this week they say why go to the Caribbean when you can go to Cornwall for the weather.

Bathers this week have enjoyed tropical weather, maybe this buyer knows something we don’t ? 

What would you pay for the price of a location???

A Chalet near Penzance went to auction with a guide price of £25,000 

The dilapidated property originally built in the 1940’s has no mains electricity but it does boast stunning sea views across the headlands of Mount Bay 

It eventually sold for £235,000 – ten times the original guide price 

A coastal timber chalet with a guide price of £25,000 has sold for 10 times as much after its panoramic sea views sparked a bidding war.

The chalet, near Penzance, Cornwall was originally built in the 1940’s and does not currently have mains electricity.

But it does boast stunning sea views across the headlands on to Mount Bay in Cornwall.

PENZANCE 2

 

The property also has a galley style kitchenette, and a second room with an open fireplace as well as a bedroom while outside it has a garden and outbuilding.

The West Country pad, which has been owned by the same family since it was built, was put up for auction on Tuesday.

It was offered as the last lot of the auction in Exeter, Devon, with a guide price of just £25,000.

But there was a bidding frenzy from interested parties at the auction with the final bid hitting a staggering £235,000 – ten times the guide.

Maybe this buyer has development plans for this property or maybe this is the price they are prepared to pay for the location 🙂

 

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