A 30-acre parkland estate in Berkshire with planning permission for a luxury development will be sold at Savills’ next national auction on 25 September.
Winkfield Park (pictured), located on the outskirts of a village of the same name, comprises 30.6 acres of land and a country house.
Planning permission has been granted for the demolition of the existing property and the construction of a 12,000 sq ft manor house, five cottages totalling 5,000sq ft and a 2,529 sq ft estate manager’s house.
The lot is being offered with a guide price of £4.2m-plus, making it one of the largest properties to be marketed by the auction house this year.
In July, Savills sold its biggest single lot - a vacant theatre in Golders Green, north-west London - for £5.25m.
Chris Coleman Smith, director, national auctions, at Savills, predicted that Winkfield Park would “generate a lot of interest” among investors and said that the price was a “realistic one” for such a property.
The catalogue for the September auction comprises 233 lots. Savills will be hoping to replicate its September 2016 result, when it raised £70.9m and sold 85% of the 258 lots offered within the room.
Seven lots - including Winkfield Park - will be offered at guide prices of £1m and above. Most of the other high-value lots are mixed-use retail and residential investments in London.
A ground-floor shop with seven flats in Harlesden is being offered with a guide price in excess of £1.55m, reflecting an 8% yield, while a Victorian mid-terrace house in Clapham with planning permission for conversion into three flats is guided at £1.3m.
A former office building in Swindon, Wiltshire, which has been converted into 12 two-bedroom flats through permitted development rights is being offered with a guide price of £950,000-plus.
“It’s a very appealing catalogue to a big cross-section of the market,” said Coleman Smith. “A lot of owner-occupiers come to auction nowadays, as I don’t think they see value through estate agents. Hopefully, we will have the correct pricing for them but we will see what will happen on the auction day.”
The September auction will be held at the London Marriott Hotel in Grosvenor Square, London.