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.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel