One of the largest development sites ever auctioned is to be offered on behalf of Durham County Council at Conrad Ritblat Sinclair Goldsmith’s sale on February 22.
The 270 acre (109.26ha) plot, which is north of Hartlepool on the A19, has a guide price of about £5m. The whole site is zoned for residential use, and it is thought that it could support 1,500 houses built during the next 10 years.
Auctioneer Simon Riggall expects bids from both consortia of housebuilders and institutions.
He added: “We believe that there is is excellent potential for a residential development. Samsung has a large site nearby, and it has just announced a further expansion at Harrogate.”
CRSG has been auctioning property on behalf of Durham council for more than a year, and Riggall says that the vendor decided to put the site to the room because it wanted a quick and easy sale.
