23rd December 2019
Final fall of the hammer signals last property auction of the decade at Villa Park
SDL Auctions Bigwood’s decade ended with a final bang of the hammer at the last property auction of 2019 at Villa Park.
One of the stand-out lots was an attractive block of eight self-contained flats converted from a pair of former semi-detached houses. 49-51 Birmingham Road in West Bromwich, which features five one bedroomed flats and three studios, all with gas central heating and double glazing, sold for £455,000 from a *guide price of £350,000+.
Over in Erdington, a large Victorian detached property also attracted some keen bidding. Built in 1862, Wessex House, 192 Gravelly Hill, retains many original features and has five bedrooms, three reception rooms plus conservatory, four cellars and a dance studio in the garden, providing plenty of versatility and potential for the new owner. It sold for £363,000 from a guide price of £250,000+.
Auctioneer Rory Daly said: “Both of these properties are superb investments with excellent income potential. Both are in popular residential areas with good transport links and amenities which means they are likely to be much in demand on the rental market.”
Among the commercial lots to be sold under the hammer was a three-storey property with redevelopment potential in a prime position within Birmingham’s Jewellery Quarter. 17 Summer Lane, which sold for £660,000 from a guide price of £600,000+, featuring an office currently let to The Big Issue, plus further vacant accommodation providing the opportunity to generate additional income, subject to any necessary planning permissions.
There were smaller properties sold, too, including 5 Comberton Road in Kidderminster, a three-storey terrace requiring modernisation, which sold for £83,000 from a guide price of £69,000+. The property has two double bedrooms on the first floor and two further bedrooms on the second floor and is located opposite the railway station close to Kidderminster town centre.
Rory said: “Once refurbished, this will make a fantastic property for a tenant or owner-occupier. It’s a belter of a property which should prove to be a great investment.”
The final property of the day – and indeed the year – was a vacant three bedroomed semi-detached property which sold for £141,000 from a guide price of £100,000+. 36 Woodfield Avenue in Brierley Hill is located in a cul-de-sac and comprises hallway, two reception rooms, kitchen, utility room conservatory, three bedrooms and a bathroom. Outside it has a driveway, garage and rear garden.
Rory added: “This was a cracking property to end our final auction of the year, raising £5.3m for sellers. It was another busy and successful day at the rostrum, finding new owners for some great properties and getting some excellent results for our sellers. “We are now looking forward to another great year ahead and are already seeking properties for our first auction of 2020.”
SDL Auctions Bigwood will be back at Villa Park on Thursday 13th February, 2020. To find out more about selling your property at auction, or to book a free auction appraisal, please click here or call 0121 233 5046.