Estate agent Jerry Root making the winning telephone bid for the anonymous new owner
A UNIQUE Guernsey landmark went under the hammer yesterday. Vale Mill was bought by an anonymous telephone bidder for £57,000.
More than 60 people gathered in Les Marais Quarry car park for the auction of the States-owned property.
Martel Maides auctioneer Nick Renny said it had auctioned a number of strange properties over the years, but this was unique. ‘It’s in a good state of repair, but you have to have real imagination.
‘All sorts of people have been interested with all sorts if ideas,’ he said. Whoever bought the listed property will have to get on with the neighbours if they want to use it.
There are no services or rights to install and access would have to be arranged across a neighbouring property.
Bidding got off to a slow start at £20,000 and was narrowed down to three bidders.
Estate agent Jerry Root represented the winning one.
Mr Renny said people had been interested in the building as an artist’s studio, tourist attraction or simply to own a piece of Guernsey heritage.
‘It’s a folly really,’ he said.
He added he was surprised that neither La Societe Guernesaiase nor the National Trust of Guernsey had been interested.
Deputy Roger Domaille, a member of Treasury and Resources, said it was happy with the price and money from the sale would be used to fund capital projects.
‘We’ve removed a drain from the public purse so it has saved money as much as made it,’ said Deputy Domaille.
He said there were other buildings in the States’ property portfolio which could also soon be for sale.
Article posted on 6th November, 2008 - 11.30am
12 Article Comments
Some lucky person has got themselves a bargain. The views must be worth a million alone not that I have had the pleasure. One thing which puzzles me is this building has recently received structual enhancement. How much did all of this cost? Was yet another asset given away as a gift? I am sure with a few quid spent it will be a beautiful unique place to live in.
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I agree someone got themselves a bargain however on this occasion the States cannot be blamed for the selling price as the property was sold at auction. This means it’s value was whatever the highest bidder was prepared to pay for it, which was £57,000.
The views may well be “worth a million” to Paul but unless he was prepared to stump up that million, such a valuation is meaningless.
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Paul Le P
I wish I had it to stump up!
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There was a view that Belverdere House did not fetch the price it was really worth.
In their scramble to raise money, the States are selling off our assets well below their value.
The price achieved for the Vale Mill was a joke.
It should have been withdrawn from being auctioned in the current economic climate.
Indeed there should be halt in all States property sales until property values improve.
It is time to end the tax payers being ripped off and others benefiting by mismanagement.
Tony Webber
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Tony Webber
With you all the way on your above comments. I doubt the sale price even covers the structial work recently completely so in effect we have given something away for nothing. What will it be worth when it is developed? An absolute fortune I bet!
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Paul you are right when you say it will be worth a fortune when it is done up, but that is the point. If the States spent the money to do it up before selling then they would be criticised for wasting taxpayers money when times are hard. And Mr Webber if the States hold onto buildings and leave them unused then they are critisised for doing that as well. An asset is only an asset if you are prepared to realise it – otherwise it’s just a worthless peice of junk. And somethings value is not what an estate agent, or anyone else, says it is – it is what the someone is prepared to pay for it.
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This sounds very strange to me ? you pay more than that for a field, I know it was sold at auction but I think it needs to be looked into a bit more who actually bought it…
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Conrad
I was at this historic auction with about 100 other spectators. There were a few gasps of surprise when the auctioneer started the bidding at a low £20,000 but it went up very slowly in 2Ks and then 1Ks and he finally struggled to raise the bidding in £500’s to the 57K sale price. My own guestimate before it started was between 100K and 200K. Perhaps the wrong people were at the auction that day.Perhaps if had £57,500 to spare I would now own it
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I would like to bet it was sold to one of the three telecom companies…..Still eager to get a mast or two up there….what a bargain for them for the future!!!
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dont forget, no services or parking…you would need to go cap in hand to the 8 house owners and get permission from all of them just to start the ball rolling. at the end of the day, it is just a small patch of land with some rocks on it. the building is still very damp and not watertight. the wind blows the rain through the windows. it would have been cheaper for the states to knock it down rather than spend nearly £120,000 to keep it going until sold..
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Leigh Haines
I have no problems with your objectivity at all. I would be interested in having an estimate for how much all that nice dressed granite would have been worth. Even to pull it down and sold for what the scrap value of its shell would have made more sense that to have made a huge loss? What was this loss all about exactly. Maybe so that it could stand safely for 18 months then? At a time of belt tighening as well. Can’t quite work that one out actually?
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Nice thinking Leigh and Paul but you missed reading that it was a listed building. It could not be pulled down and would have cost who knows how much tax payers money to try to get it delisted with no likelihood of success.
Where the States were at fault was in not selling it long ago before it fell into a dangerous condition. Unused States property should be kept in good condition and let or sold not left to fall to rack and ruin.
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