CPBigwood auction nets £12m
A vacant building comprising 22 flats was one of 139 lots sold at Birmingham auctioneer CPBigwood's latest auction. The sale at Aston Villa Football club racked up £12m.
Offices at 270 Hagley Road, Birmingham, which had a guide price of £110,000, went for £230,000. Two lots of land at Grice Street, West Bromwich, with guide prices of between £5,000 and £10,000, were bought for £42,500 and £68,500.
Student properties were also in demand with 32 Exeter Road, Selly Oak, having been purchased for £177,000 and 157 Dawlish Road for £170,000.
Twenty-two self-contained flats at 43 Henrietta Street made £341,000 against a guide of £175,000.
Former live music venue JB's, located at 15 Castle Hill, Dudley, made £225,000. Regent House in Hockley sold for £500,000 and a former banqueting suite in Aston was purchased for £335,000.
CPBigwood's director Jonathan Hackett, joint head of auction, said: "There was a big variety of lots – from former pubs, redundant offices and out of date children's homes to an array of domestic properties, big piles for large families through to starter homes needing a lot of work.
"Auctions are proving increasingly attractive to people, both buyers and sellers. It is a sure way of doing a deal at a time when both the commercial property and residential markets remain sticky."
