Woodland near homes in St Ives sells at auction for £252k

Previously undeveloped woodland at the end of Sandy Lane in St Ives was put up for sale at auction on July 28 by Symonds and Sampson with a guide price of £70,000 set by the auctioneers.

The seven-acres (2.83 hectares) of land, not far from St Ives Primary School, ended up exceeding all expectations when it sold for a massive £252,000 – more than three times the guide price – after a hard-fought bidding process involving multiple parties.

The interest in the land was explained by auction manager Meredith Holmes who told the Echo: “We had over a dozen bidders registered for the lot with most opting to attend the auction and bid in the room.

Seven acres of woodland at Sandy Lane in St. Ives sold at auction. Picture: Google

“It resulted in a bidding war between two of the prospective buyers in the room and neither would give in. The woodland exceeded our client’s expectations considerably, as well as ours.”

The winner was described by Meredith as “an individual who lives relatively close to the woodland”.

As described on the agent’s website, the land is an “attractive parcel of woodland” which is easily accessible from St. Leonards, Ringwood and the A31. It is accessible via a track and gateway from Sandy Lane with some steep, sloping areas.

The land is comprised of a mixture of deciduous trees with some pine and rhododendron – some of which have Tree Preservation Orders.

It also backs onto the grounds of the St Ives Country House Care just off Horton Road.

Seven acres of woodland at Sandy Lane in St. Ives sold at auction. Picture: Symonds & Sampson

One resident, who bid on the land for it to remain untouched, told the Echo any development would make tens of millions for the new owner.

They said: “Based on the size of my plot, if they got planning permission they will be able to make 70 homes – if valued at £400k each that would be £28m.

“That being said there is a covenant on the land for the next 20 years and for any significant increase in the land price, the new owners have to pay 25 per cent of the increase to the original owners.”

Residents on social media also discussed the future of the site with some expressing positivity over possible development.

One said: “For it to sell for four times the guide price suggests that the purchaser thinks it will be suitable for redevelopment which should in turn mean other businesses invest in the area. More investment in the area is good for all.”