AN AREA of land could be developed after it was sold for £50,000 – five times its original asking price.
The site, which measures just over a quarter of an acre in the Heyrod area of Stalybridge, easily exceeded its estimation.
And it was marketed as having ‘possible development potential’.
The land, situated on the north side of Wakefield Road to the south of its junction with Beechwood Lane, was sold on a freehold basis by National Grid on Thursday, September 30.
It is currently subject to an ongoing Garden license with no rent payable unless it is ended.
However, any developer would have to bear in mind it is bordered by another property and two large electricity pylons.
Its initial reserve price was £10,000 but that was soon passed as a total of 27 bids were lodged with auction company Allsop.
Now it remains to be seen what the new owner wants to do with the area.