Property specialist Bigwood rounded off a record-breaking year
with another successful sale, pushing auction takings for 2010 to
almost £40 million.
Its latest auction at Villa Park generated sales of £8.4
million, which is set to rise further with post-auction
completions.
Joint head of auctions Ron Darlington said: "This finishes a
great year for us, beating our previous record by around 20 per
cent.
"Prospects for 2011 are good, particularly if the banks and
other lenders start to offer sensible deals to first-time buyers.
Youngsters trying to buy their first property are struggling to
find the 25 per cent deposits some lenders are asking.
"If they can get a foot on the ladder the rest of the market
will benefit."
At the sale, a Grade II listed property at Fentham Road,
Erdington, sold for £200,000, against a guide price of
£120,000.
The 19th Century property was part of the Aston Union Cottage
Homes, designed to give children a better quality of life.
It later became known as The Gardens and was more recently used
as offices by Birmingham City Council.
Another Grade II property offered by the city council, a flower
shop and barn at 7 Bell Lane, Northfield, sold for
£30,000.
Meanwhile, a former care home at 37 Sandon Road, Edgbaston, went
for £230,000, almost twice the guide price.
Two other period lots in Moseley sold for £250,000 each.
Ye Oak Tree House in Prospect Road, dates from 1879 and has four
bedrooms and three attic rooms, and a semi-detached at 57 Anderton
Park Road is split into flats.
A derelict semi-detached house in Links Road, Penn,
Wolverhampton, which was offered with a guide price of
£60,000 and attracted 57 viewings, finally sold for
£100,000.
However, of nine assured shorthold tenanted properties, only two
sold, showing that the appetite for these sort of residential
investments has dropped sharply.
Several parcels of land were also sold on behalf of Sandwell
Council and four properties on behalf of Bournville Village Trust
went for well over the reserve.
Bigwood's next sale is at Villa Park on March 10. For more
information call 0121 456 8800 or visit www.bigwood.uk.com