A TRACT of woodland in South Cumbria has sold for more than four times its guide price.

The wood at Mill Brow Lodge, Dalton-in-Furness, was advertised with an auction estimate of up to £10,000 but ended up selling for £44,000.

Agents Kendal based Michael CL Hodgson, part of H&H Land and Property, said it demonstrated buyers were willing to pay ever greater prices for woodland lots and the market was 'showing no signs of slowing in the future'.

Woodlands at Hoathwaite, near Coniston, also brought in high prices on the day, offered and sold in three lots.

A 5.77 acre softwood plantation sold for £41,000 or £7,100 per acre; a similar wood extending to 3.69 acres sold for £20,000, which is £5,420 per acre; and Hoathwaite Coppice, mixed hard woods realised £57,000, representing £4,488 per acre.

One of the reasons for the spike in demand for woodland plots is its versatility, says H&H Land and Property agent Mark Barrow.

“Woodland has an incredibly broad appeal, whether buyers are looking for an economic opportunity or are interested in conservation, it is clear they are willing to invest large sums of money in this kind of land.

“The main driver for increasing woodland prices has been the escalating price of land rather than the value of timber rising. But in the last five years, the value of woodland has increased by around 50 per cent.

“There are many benefits to investing in woodland, both financially and for lifestyle reasons, but it’s important to have a good understanding of the time and effort that goes into managing them efficiently, and of the regulations that govern what you can and can’t do on site.”