A 30-bed former south Wales care home created a bidding battle when it came up for auction in Cardiff and sold for almost three times it guide price.
Hyfrydol, at Cemetery Road, Maesteg, near Bridgend, listed with a guide price of just £148,000 was seized on by investors who could see the value of the well equipped, recently closed care facility.
Fevered action at the Paul Fosh Auction witnessed by the cameras of the BBC’s Homes Under the Hammer, saw the price rise steadily and swiftly ending with two bidders battling it out to the bitter end with the hammer finally falling at £410,000 – roughly £14,000 per room.
Paul Fosh, owner of Newport-based Paul Fosh Auctions and auctioneer on the night, said:
“There was a huge amount of interest prior to the auction in the property which played out in the ballroom sale. Bidders were determined to secure the 30-bed property and in the end there was a real battle, each trying to blow the other out of the water with their bids.
“When the hammer eventually fell after the tussle there were cheers and applause in the room from everyone who had been on the edge of their seats during the bidding. It was a great result all round.”
The substantial former care home, with 15 bedrooms on the ground and 15 more on the first floor and being sold on behalf of Bridgend County Borough Council, is served b y a professional kitchen, communal areas, a garden and parking.