A BARN in the Cotswold countryside has sold for £900,000 after frenzied bidding at an auction in Cirencester.

Long Furlong Barn, near Duntisbourne Abbots, had been expected to fetch about £450,000, but such was the excitement at the rare opportunity to buy the traditional stone-built barn and cart shed that the bidding war began at £500,000 and ended up reaching what is thought to be a record amount.

The 3,000 square foot period property comes with planning permission to convert into a two-storey, three-bedroom house with adjoining single bedroom annexe in the cart shed.

It is reckoned converting the barn into a dream home will cost in excess of £600,000, and mains electricity, telephone, television and heating fuel supplies will all need to be brought to the property.

The barn was described by auctioneer Mark Hill, from Cirencester land and estate agent Moore Allen & Innocent, as being "situated in a stunning position in the Cotswold hills."

"It is approached over a half mile-long driveway with outstanding views in all directions. The barn itself is situated in a shallow hollow, which provides considerable privacy, but from where there is a glorious outlook," he said.

At the auction, which was held at the Stratton House Hotel in Cirencester yesterday there was bidding in the room and by telephone from the moment the auctioneer's opening gambit.

The contest soon became a two horse race, with the winning bidder and under-bidder determined not to the let the property slip from their grasp in a gripping 15-minute battle of nerves.

After the auction the winning bidder, who wished to remain anonymous, looked jubilant but exhausted by his experience.

Mr Hill, who though the sale figure was a the highest a barn has ever sold for, said: "I have seen much bigger barns in similar locations go for less money at the top of the market. To achieve this sum during a recession is incredible."