A Georgian manor house and estate in Lynmouth, Devon, failed to meet its reserve price of in excess of £160,000 at Network Auctions’ 20 February sale, despite the auction attracting record crowds.
The Manor House, East Beach (pictured), a Grade II listed Georgian manor with 17 bedrooms, with cottages arranged as four self-contained apartments located on a 1.15-acre site, remained unsold at the sale in the Westbury Mayfair Hotel, Conduit Street, W1, despite attracting a bid of £160,000.
The auctioneer said that the property, which until recently was being rented out as holiday cottages as well as a wedding venue and tearoom, is in need of restoration work.
However, the estate was one of just 12 lots that remained unsold at the auction, which at one point was so crowded that auctioneer Guy Charrison was forced to ask non-bidders to leave the room.
Network Auctions sold a total of 47 of the 59 lots offered, equating to a success rate of 80%, raising £9.3m.
The most hotly contested battle of the day was for a plot of freehold land including highway, paths and verges in Harpenden, Hertfordshire, which sold for £157,000 – a 3,000% increase on the guide of £5,000.
Network Auctions’ next ballroom sale will take place on 2 April at the Westbury Mayfair Hotel, W1.
