A MID Wales farm that sits at the foot of the Cambrian Mountains is believed to be the first in the UK sold via online auction.

BidX1, the online auction specialist, has successfully sold Ty Gwyn Farm, a 214-acre property just outside Llanwrtyd Wells, following two hours of competitive online bidding.

The firm believes that Ty Gwyn is the first UK farm to sell via online auction, a feat achieved in the midst of the latest circuit breaker lockdown across Wales.

The traditional farm lies on a sloping hillside on the outskirts of the town, officially the UK’s smallest and home to the Bog Snorkelling World Championships among many other weird and wonderful events. The 168 acres of green pasture and 45 acres of woodland, as well as the ruins of a former stone farmhouse and outbuildings, enjoy extensive views out across the Irfon Valley.

Ty Gwyn lies alongside the A483 Llandovery road and gently ascends a hillside until meeting a steep, wooded, rocky ridge. A disused stone farmhouse, stone cart barn and stable block occupy an elevated position at the foot of this ridge, offering a unique opportunity to refurbish and re-occupy traditional farm buildings which offer stunning views over the valley.

BidX1 opened online bidding for Ty Gwyn on November 4, following a marketing campaign which drew the anticipated local interest but also tapped into the firm’s global investor base. More than 30 parties registered their interest prior to the sale.

Bidding on the day was highly competitive, with single bids escalating as high as £40,000 at one point. The property finally sold for £826,000, substantially over the reserve price.

Although Ty Gwyn excited considerable local interest, the successful buyer was based outside Wales, which BidX1 director Simon Riggall attributes to the firm’s targeted marketing strategy and substantial investor audience, in both the UK and abroad.

Simon said: “The sale of more than 200 acres of farmland and woodland via our digital platform is a testament to the changing face of property transactions, a trend which has been accelerated by the pandemic.

“Sophisticated digital marketing, advanced data analytics and a global investor audience ensure optimal outcomes for assets of all types.

“What’s clear now is that technology is a crucial element of an effective sale strategy – no longer just a ‘nice to have’.”

BidX1 auctions last month raised more than £20m in total.