A detached cottage in the popular village of Penally in Tenby has sold for £77,000 more than its starting guide price at a recent property auction.

The cottage is set in an elevated plot with a small wooded area, large garden that has views across to Tenby bay and off-road parking. In need of some improvement work, the home had a guide price of £100,000 to £110,000, but at the fall of the hammer it sold for £177,000.

Similarly, a plot of 15.5 acre land with outbuildings used for agricultural storage in the village of St Ishmaels sold for £142,000, with a starting guide price of £70,000 at John Francis’ property auction.

Formerly part of North Hall Farm, the land and buildings are in need of renovation because the area has not been maintained.

Richard Emanuel, director of John Francis, said: “The detached cottage in Penally has huge potential to be transformed into a desirable home by the sea. It’s in a popular location, just a mile or so from Tenby, and you can even walk to the well-known South Beach in just 10 minutes from the property. All of its assets mean that it was no surprise that it sold for well above its guide price at auction.

“Likewise, the land St. Ishmaels was a unique opportunity for someone looking for a project in Pembrokeshire. The land could be developed for a range of use, subject to planning permission.”

A detached bungalow in Tufton also sold at auction for £110,500 with a starting guide price of £100,000. The property has two bedrooms, a bathroom and a conservatory as well as a good sized garden with a detached garage and views over farmland to Preseli Mountains.

John Francis’ third property auctions of 2016 were held over two days in Swansea and Carmarthen and were attended by more than 600 people. Over the two days, 25 lots were sold, achieving combined total sales of more than £2.5 million.

Mr. Emanuel added: “With so much change in the political landscape in recent weeks, it’s very positive to see that the local housing market here in Pembrokeshire is performing well, as shown by the success of the properties sold at auction.

“With three two-day auctions already under our belt this year, we’ve sold more than 80 properties so far, totalling over £7 million in sales.”

The next two-day auction will take place on September 29 and 30 September and properties are now being accepted. For further details, visit www.johnfrancis.co.uk