9th September 2013
Hot lots heat up SDL Bigwood’s latest auction
A Sutton Coldfield house and a former school in Aston were the stars of the latest SDL Bigwood auction.
Lot 1 proved the one to watch after 90 viewings and 53 legal downloads highlighted massive interest.
Draycott, 25 Drifford, close to Sutton town centre, went under the hammer on behalf of Birmingham City Council, with a reserve of £250,000.
It sold for £430,000.
Set in 0.32 acres, it comprises entrance porch, hall, two reception rooms, small reception room, sun lounge, breakfast room, and kitchen. On the first floor there are four bedrooms, bathroom and separate toilet.
SDL Bigwood director Jonathan Hackett, joint head of auctions, said: “It represented an excellent opportunity to acquire a detached property in a very desirable area.”
And the Sycamore Centre, Sycamore Road, Aston, also up for sale on behalf of Birmingham City Council, with a reserve of £300,000, a freehold 1960s former school set in nearly 1.5 acres, made £505,000.
Held at the Holte Suite, Aston Villa Football Club, the room was once again packed, with around 600 eager purchasers.
A total of 93 lots were offered.
Including ten sold prior to the event, 67 unconditional exchanges of contracts saw a 72 per cent success rate and a total of more than ?9 million raised.
It means this year’s first two SDL Bigwood sales have exceeded ?16.5 million.
This time the strike rate was – 100 per cent of Birmingham City Council lots sold and 95 per cent of receivership ones; 19 out of 24 residential investments, 80 per cent; 34 out of 47 vacant residential lots, 73 per cent; and three out of four development sites.
The firm also reported a noticeable increase in telephone bidders.
100 Poplar Avenue, Edgbaston, proved popular. The substantial vacant freehold detached property, with a guide price of £195,000, went for £266,000
3 Breedon Drive, Curdworth, a vacant freehold three bedroom detached property with a guide price of ?150,000, in need of modernisation throughout, achieved £194,000.
Residential investments did well – 48 and 50 Sandon Road, Edgbaston, big semi-detached properties split into flats, each with a guide of £125,000 managed £227,500 and £220,000 respectively; and 43 and 45 Harborne Park Road, Harborne, guide price £100,000, were bid up to £130,000 and £125,000.
Birmingham bargains included 8 Coplow Terrace, Coplow Street, Ladywood, a freehold semi detached cottage, guide price £50,000, sold for £70,000; 153 Johnson Road, Erdington, a vacant freehold mid terraced property, with a guide price of £50,000 produced a sale price of £78,000; and 179 Alexander Road, Acocks Green, also a vacant freehold mid terraced, guide price £78,000, sold for £99,000.
Black Country homes also sold well including 52 Swan Street, Netherton, a vacant freehold substantial semi detached, with a guide of £48,000, £66,000; 74 Rosemary Crescent, Dudley, a freehold residential semi detached investment property, guide price £70,000, £89,500; 50 Stowheath Lane, Wolverhampton, guide price £35,000, £67,000; 43 Sedgley Road East, Tipton, a block of four self-contained residential investment apartments, with a guide price of £100,000, pulled in £160,000; 1-9 Croft Apartments, Willenhall, a freehold block of nine residential investment apartments, guide price ?280,000 was purchased for £425,000; while Nos. 36, 38, 40 and 42 Greystone Passage, Dudley, modern semi detached properties, each with a guide price of £55,000, all sold for between £72,000 and £77,000.
Mr Hackett said: “Overall it represented another highly successful sale with lots of interest from both the public and property investors.”
Next auction is June 28 also at Villa Park.