The owner of a playpark in Inverness reduces the asking price after failed auction attempts.
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The owner of a playpark in Inverness has recently reduced the asking price by 25% after failing to attract buyers through an online auction platform. Ibrahim Mohammed purchased the green space located in Moray Park Gardens, Culloden, for £15,000, but the property has struggled to find a new owner despite its initial appeal.
Current state of the playpark
Originally constructed in the early 2000s, the park was a popular destination for families in the area. However, over the years, it has fallen into disrepair, with overgrown vegetation and broken glass littering the playground.
The situation has deteriorated to the point where even the for-sale sign has been vandalized, further complicating the sale process.
Price reduction and auction challenges
Last August, the park was listed for sale by Prime Property Auctions with a guide price of £40,000, nearly three times what Mr. Mohammed originally paid. Despite attracting some interest, none of the bids met the reserve price, leading to a significant price reduction to £30,000 after nearly six months on the market. The listing emphasizes that the 0.8-acre plot could be suitable for various uses, pending necessary research and permissions.
Local opposition to development
Potential buyers may face significant local opposition if they attempt to develop the land for housing, as there is currently no planning permission for such projects. Highland Council’s principal planner, Tim Stott, has previously warned that the auction listing could mislead prospective purchasers. The community has shown strong resistance to similar developments in the past, as evidenced by a controversial application to build on nearby Moray Park Wynd that was ultimately rejected due to concerns over the loss of amenity space.
Community response and future prospects
Culloden Community Council has expressed its commitment to opposing any plans that would diminish local amenities or green spaces. Chairwoman Catherine Bunn stated, “The local community will always challenge any planning that takes away vital amenities and green belt in this area.” While Mr. Mohammed may still profit from his investment, it is likely to be less than the initial offers of £35,000 and £36,000 that were rejected during the first auction.
Market conditions and seller’s perspective
When asked about the lack of interest in the property, Mr. Mohammed attributed the challenges to broader market conditions, stating, “It’s not just my property that’s like this, it’s a difficult market.” He refrained from
