Auctions

CPBigwood latest auction tops £10m again

CPBigwood’s largest ever auction of 141 lots brought in £10.3 million – and is set to go higher.

Warren Lewis
|
9th July 2014
Auction

CPBigwood’s largest ever auction of 141 lots brought in £10.3 million – and is set to go higher.

Held at the Holte Suite, Aston Villa, there was a 68 per cent success rate with good interest in a number of the unsold properties.

“We are therefore expecting these figures to rise,” noted Jonathan Hackett, partner and head of auctions.

The outcome saw 100 per cent sold for both Birmingham City Council and Solihull Council, 100 per cent of garages, 79 per cent of residential vacant, 71 per cent of land and development and 63 per cent of residential investments.

A standout was 1059-1069 Kingsbury Road, Castle Vale, Birmingham, a freehold modern unit let as a Riley's Snooker Club and Sports Bar, reserve of £140,000 sold for £420,000.

Two former training centres, both Birmingham City Council lots, at 17 Camp Lane, Handsworth, and 151 All Saints Street, Hockley, sold for £250,000 and £280,000 respectively.

A chance to buy a piece of Benefits Street – land at the rear of 74 James Turner Street, Winson Green – was picked up at the second time of asking at a price of £9,000.

Notable lots included – land off Trafalgar Road/Rookery Road, Handsworth, sold for £82,000 against a guide of £20,000; a development site at 1139-1153 Pershore Road, Stirchley, sold for £145,000 off a guide of £70,000; a lock-up shop and land at Easterton Croft, Druids Heath, achieved £50,000 despite just three viewings and a reserve of £30,000; Zair Works Business Centre, 107-119 Bishop Street, Highgate, two viewings and a reserve of £30,000, made £73,000; and lock up garages at Prospect Road, Moseley, and Cambridge Road, Kings Heath, sold for £64,000 against a guide of £30,000.


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