Barn sells for almost £1m at property auction

Thursday 18th March 2010

Recession? What recession? It has been reported that a humble barn in the Cotswolds recently defied the downward trend in the property market when it doubled its estimate at a property auction.

Long Furlong Barn, near Duntisbourne, was auctioned off at Stratton House Hotel last week and sold for a recession-busting £900,000.

The estate agent even described the bidding for the 3,000 square foot traditional stone-built barn, as “frenzied”.

It’s hardly a bargain buy as the property requires extra funding for conversions of more than £600,000 due to the exclusion of mains, electricity, telephone and heating fuel supplies.

Planning permission comes with the property to enable the buyer to convert the barn into a two-storey, three-bedroom house with adjoining single bedroom annex in the cart shed.

Living up to the reputation of the ever-optimistic estate agent, auctioneer Mark Hill, from Moore Allen and Innocent, said: “It is approached over a half mile-long driveway with outstanding views in all directions. The barn itself is situated in a shallow hollow, which provides considerable privacy, but from where there is a glorious outlook.”

He added: “I have seen much bigger barns in similar locations go for less money at the top of the market. To achieve this sum during a recession is incredible. I'm delighted.”