Auction records celebrated at CPBigwood

Records were broken at CPBigwood’s latest auction in Birmingham.

Related topics:  Auctions
Warren Lewis
19th May 2014
Auction
A record attendance saw the venue, the Holte Suite at Villa Park, crammed with more than 1,000 people and with £10,538,600 raised on the back of £13 million in February it was the first time ever the firm had notched successive auctions in eight figures.

Senior partner Rory Daly said it was thought to be the first time this has been done outside London and the South-east.

“It would put us on course for an annual total of around £70 million against £52 million for 2013.”

Business was brisk with a success rate of 72 per cent, 83 out of 116 lots sold.

The statistics were – 94 per cent of vacant lots sold, 72 per cent of the residential investments, 100 per cent of regulated residential tenancies, 100 per cent of garages and ground rents, 87 per cent for local authorities and 71 per cent for receiverships.

There were plenty of stand-out lots, but one that really 'went mad' according to sources was Mission Hall, 95 Adderley Road, Saltley, built in the early 1900s and since extended, securing over 100 viewings and selling for £198,000 off a guide of £35,000, 465 per cent ahead.

Jonathan Hackett, partner and head of auctions, added: “It was the busiest auction ever held in Birmingham and certainly the busiest I have ever experienced in terms of numbers.  
“At one point the staff at Villa Park were so anxious regarding health and safety I thought it was going to have to be stopped. There were over 1,000 people in the room and more trying to get in which caused a massive back log into the foyer area of The Holte Suite. Absolutely remarkable.”

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