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Council assets go under the hammer
THE county’s property market missed out on more than £1m worth of business this week alone as cashstrapped Herefordshire Council looked to London to get “fire sale” deals done.
A number of freehold opportunities covering many parts of the county went under the hammer at the Millennium Hotel, Mayfair, on Monday, to raise more than £1m.
Bidders from the county attended the auction but most of the lots went to outside investors.
Nearly £550,000 was raised for the council through another freehold sale at the same venue in July, with both auctions handled by national commercial property consultancy Lambert Smith Hampton.
Hereford estate agent Jonathan Cook, who was at Monday’s auction, said London sales shortchanged a local market that needed the business.
“There are many local estate agents, auctioneers and chartered surveyors who should have been given the opportunity of selling the properties,” he said.
For more on this story, see today's Hereford Times.
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