A substantial commercial property in Cornwall previously used as a bakery saw bids rise above its guide price when the hammer came down.

The property at 40-42 Causewayhead, Penzance had been given a freehold guide price of £120,000 to £150,000, but on the day went for £186,000.

It was once the home of The Oven Door Bakery, based in a pedestrianised street in the town centre.

The building has suffered some fire damage in one part, meaning it will need refurbishment and improvement works.

There could also be the potential for redevelopment, subject to the necessary planning permission.

Falmouth Packet: The former bakery room The former bakery room (Image: Clive Emson)

It was among 135 lots listed in the latest auction being held by Clive Emson Land and Property Auctioneers.

Auctioneer David Henwood said: “There was keen demand for this freehold property in a pedestrianised part of Penzance town centre.

“Although suffering some fire damage, the premises clearly attracted the interest of bidders who saw the potential on offer.

“The new owner now has various options, including a comprehensive programme of improvement works or some form of development scheme, subject to all the necessary consents.”

Falmouth Packet: Fire damage upstairsFire damage upstairs (Image: Clive Emson)

The property’s ground floor includes retail space and bakery production room, while on the first floor there is an ancillary office, storage and former staff facilities.

Mr Henwood previously added: “Some parties may wish to consider a range of schemes including sub-division or part conversion.”

Falmouth Packet: The building needs improvement workThe building needs improvement work (Image: Clive Emson)

Clive Emson Auctioneers holds auctions eight times a year.

The next auction ends on Wednesday, March 20, with bidding opening 48 hours beforehand.

Lot entries close on Monday, February 26, with the catalogue available from Friday, March 1.