Pictured above: Bigwood director Jonathan Hackett
A packed saleroom and fierce bidding on the hottest lots
resulted in Bigwood's latest property bonanza netting £7.5
million in sales on the day - with the total expected to top
£8 million with post-auction deals.
It was one of the Midland firm's biggest ever number of lots
… and paid off handsomely.
A total of 112 were up for auction at the Aston Villa ground and
77 were knocked down, a 68.75 per cent completion.
"It was a stunning result," said Bigwood managing director Rory
Daly.
Pre-auction viewings and offers were strong and this produced a
packed sale room with around 600 people.
Over 1,200 viewings were logged in total.
Council properties for Birmingham, Sandwell, Wolverhampton and
Wyre Forest went extremely well, with 25 out of 27 selling.
Ground rent lots proved popular with eight out of 11 being
picked up.
The residential investment market continued to struggle with
only a handful changing hands.
But it was a different story for the wider residential
offer.
Jonathan Hackett, director, said: "We were really pleased to see
so many of the residential development sites selling once again and
many well over their guides."
A vacant mid terraced house in Moseley attracted 39 viewings and
went for £171,000 against a guide of £140,000.
A freehold site in Balsall Heath achieved £152,000 against
a guide of £40,000.
On behalf of a large housing association a 'grotty' mid terraced
town house in Kitts Green, Birmingham, attracted 38 viewings and
achieved £71,500 off a guide price of £50,000.
A 'wrecked' semi in Wednesbury secured 35 viewings and
£81,000 against an asking price of £55,000.
Two terraced properties, owned by a housing association, which
had been converted into six flats, subsequently badly vandalised,
saw huge interest with nearly 100 viewings. However, they were
pulled from the sale at the 11th hour and will be re-offered in
May.
A rural un-modernised end terraced cottage in Alvecote, near
Tamworth, with a guide of £55,000 achieved £71,000
after 25 pre-sale viewings.
Former Wolverhampton City Council offices in the city's Lea Road
sold for £102,000 off a £65,000 guide.
A Sandwell Council site at Devonshire Road, Smethwick, went for
£42,000 off a £10,000 guide.
And 129-132 Selsey Road, Edgbaston. Birmingham, an end terraced
house in need of improvement, attracted over 30 pre-sale viewings
and achieved £86,000 off a guide of £60,000.
Even a house in Balsall Heath, Birmingham, with no bathroom or
inside toilet, sold for £60,000, topping a reserve of
£46,000.
For more information about Bigwood please visit their website
here: www.bigwood.uk.com