CPBigwood auction tops £8.3 million in pre-Christmas bonanza

Jonathan Hackett

Jonathan Hackett

CPBigwood’s December auction notched up an 81 per cent success rate with more than £8.3 million being raised on the day.

There were Christmas bargains galore at CPBigwood’s last auction of the year. A host of keenly priced homes across the Midlands proved early presents for bidders at a packed Holte Suite at Aston Villa.

Out of the original 101-strong catalogue, including pre-sales, 94 lots were offered in total.

A total of 76 were sold making a success rate of 81 per cent – the total amount raised was more than £8.3 million.

CPBigwood partner Ian Tudor said: “We sold 92 per cent of the commercial lots, which was a record not only for this year, but also pre-economic downturn. There was a real appetite for commercial stock which bodes well for 2013.”

Jonathan Hackett, partner and head of auctions, said: “The auction room was packed and there was a real festive buzz,” said Jonathan Hackett, partner and head of auctions.

Terrace properties, particularly those with three bedrooms, went particularly well.

They included 70 Beckett Street, Bilston, guide price £18,000, sold for £59,000; 16 Sarehole Road, Hall Green, £78,000, £118,000; 2 Glenthorne Road, Erdington, Birmingham, £35,000, £60,000; and 31 & 33 Brian Road, Smethwick, guide £74,000, sold for £111,000 and £110,000 respectively.

Other homes which did well included 39 Brickhouse Lane South, Great Bridge, a vacant leasehold second floor apartment overlooking a canal, guide £25,000, sold £37,000; and three semis – the fire-damaged 146 Melton Road, Solihull, £68,000, £131,000; Painters Cottage, 30 Avenue Road, Coseley, £25,000, £40,000; and 27 Windrush Grove, Selly Oak, Birmingham, guide £95,000, £136,000.

It meant 39 out of 44 vacant residential properties were sold (89 per cent).

In addition the auction saw 15 out of 17 local authority lots (88 per cent) sold, five out of six fixed charge receiver/LPA receivership lots (83 per cent) and 22 out of 27 vacant commercial lots (82 per cent).

Notable ones included land at 115 Pottery Road, Oldbury, guide price £80,000, sold for £125,000; 81-83 Stafford Street, Hanley, Stoke-on-Trent, a town centre restaurant/café, £125,000, £200,000; a shop at 122/122A Hawthorn Road, Kingstanding, Birmingham, with separate self-contained living accommodation above, £70,000, £135,000; and two lots of garages at Great Barr and Stafford, one with a guide of £10,000 which sold at £17,000 and the other with a guide of £8,000, making £16,000.

All eight pubs on offer were snapped up, most prior to the auction.

The recently refurbished Railway Inn, 96 Bromford Road, West Bromwich, guide price £195,000, went for a knock-down £150,000 and in Kidderminster the Crown Inn, Old Chester Road South, guide price £295,000 sold for £305,000.
Changing hands ahead of the event were The Spring Cottage, 60 Elmore Green Road, Bloxwich; the Stepping Stones, Birmingham Street, Stourbridge; The Bell, Bell Lane, Kitts Green, Birmingham; The Vauxhall, Abbey Road, Evesham; The Punchbowl, Tuttle Hill, Nuneaton; and The Bird in Hand, 942 London Road, Stoke-on-Trent.

A guide price of £450,000 was being asked for the three acre Vulcan Works, Hayes Lane, Stourbridge, on behalf of the administrative receivers of industrial group, Rhodes & Cartwright. It too was sold prior to the auction.

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