12:37 Tuesday 20 May 2014

Croylands in Ely snapped up by private local buyer for £610k

Written byJORDAN DAY

Croylands Croylands

A former day care centre in Ely has been bought by a private local buyer for £610,000.

Croylands, in Cambridge Road, was sold at a specialist auction in London yesterday (Monday) for £110,000 more than the £500,000 guide price.

Oliver Childs, from Lambert Smith Hampton, which handled the sale, said: “The highest bid was £610,000 and that was made by a private buyer, who I can confirm is from Ely. It was brilliant to see Croylands do so well on the day.

“There was significant interest in the building. A total of 35 legal packs were downloaded, which is a sure sign that people are seriously interested in bidding.”

Cambridgeshire County Council, the former owners of the Grade II listed building, thought it had finally found a buyer for it earlier this year.

The former vicarage and day care centre failed to reach its reserve price at auction in March, and as a result the council invited interested parties to enter their best offers.

Four unconditional offers were made, alongside two offers which were conditional on planning permission being granted.

The council agreed to accept the unconditional offer for a family home given the former long-running planning row over McCarthy and Stone’s plans to turn the building into retirement flats.

However, that offer then fell through as the buyer pulled out, hence the building went back under the hammer.

The buyer will not be revealed until all the legal documents have been signed.

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