CP Bigwood’s latest auction raised £11.7 million as a packed sales room generated lively bidding.
The hammer came down on 139 lots at Aston Villa Football Club, resulting in a conversion rate of 73 per cent. Once after-sales are included it is expected that the respective figures will be £12 million and 75 per cent.
Amid the bargains there were plenty of properties producing keen interest among the 600-strong gathering including a number of council-owned sites.
Offices at 270 Hagley Road, Birmingham, which had a guide price of £110,000, went for £230,000. Two lots at Grice Street, West Bromwich, with guide prices of between £5,000 and £10,000, were bought for £42,500 and £68,500. And the auction disproved the theory that traditional student properties are no longer in demand given the growth of purpose-built accommodation. No.32 Exeter Road, Selly Oak, with a guide price of £95,000, sold for £177,000, while 157 Dawlish Road, also Selly Oak, went for £170,000.
Two highlights were 2 Hermitage Road, Edgbaston, and 43 Henrietta Street, off Birmingham’s Constitution Hill.
The former, a vacant freehold five bedroom detached property in need of refurbishment, went for £460,000, well above a guide price of £375,000, after attracting 70 pre-auction viewings. The latter – 22 self-contained flats – made £341,000 against a guide of £175,000.