10 Acre Smallholding For Sale in Somerset...Watch The Auction Livestream

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🏠 Property Recap — Brick Chimney Farm
• Period 4-bed farmhouse — comprehensive renovation required, unoccupied for some time
• Stone barn conversion — 3 bedrooms, kitchen/dining room, first-floor sitting room in the eaves
• Courtyard of outbuildings — garage/workshop, stable barn, timber stables
• ~10 acres level pasture — main block in 3 enclosures plus separate 2.6-acre paddock
• Very poor and dilapidated condition — waste and debris throughout, no electricity, previous unauthorised access. Full clearance buyer's responsibility

📋 What the Legal Pack Reveals
Court of Protection Sale
Section 215 Notice — Tidy-Up Order
• Somerset Council served a Section 215 Notice in 2023 requiring removal of waste and debris from the site
• The property has unregistered title — ownership is traced through a chain of old documents going back to 1925
25% Overage for 10 Years
• A 10-year overage applies to part of the property — 25% of uplift triggered by any non-agricultural planning consent
Selwood Garden Community — Why the Guide Was Wrong
• The property sits on the edge of the Selwood Garden Community development area
• Planning consent for major housing, commercial and associated infrastructure on adjacent land — Section 106 registered October 2025

💭 My Verdict
✅ Why It Sold at £655,000:
• Adjacent major consented development changes the strategic land value entirely
• Seven bedrooms of existing accommodation plus courtyard and 10 acres on the edge of one of Somerset's most desirable towns
• Barn conversion represents existing residential consent — real value regardless of condition
• Multiple bidders going head-to-head — genuine competitive tension, not one buyer running away with it
⚠️ Why the Guide Was Wrong:
• A £300K guide next to a consented major development was always going to dramatically understate the market
• Other lots in the same auction didn't reach reserve — this wasn't a rising tide. This specific property attracted specific interest for specific reasons
• The instinct I raised in the original video — that this was being set up for developer interest — looks well-founded in hindsight
• The agents knew what was next door. A low guide generates interest and competitive bidding — but you could argue it also meant some buyers who couldn't stretch past £500K wasted their time preparing to bid on a property that was never realistically going to sell near that number

🎬 Chapters
00:00 — Intro: A Lot Of Property For The Money
01:15 — Property Photos
03:45 — Agent Listing
06:07 — Somerset Location
09:09 — The Legal Pack: Court of Protection & Section 215
09:50 — Unregistered Title — What It Means
10:30 — The Auction Livestream
13:57 — Did the Agents Get It Wrong?

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