16th December 2014
SDL Bigwood celebrates new auction record
SDL Bigwood set a new record with its final auction of the year at Aston Villa’s Holte Suite.
Out of 116 lots offered, the firm sold 92, a success rate of 80 per cent as aggregate sales topped £10 million.
The fantastic result means award-winning SDL Bigwood notched a total figure in excess of £62 million for the year, a 20 per cent plus increase on 2013.
Rory Daly, senior partner, said: “An absolutely brilliant outcome.
“We showed that we could move properties outside of the West Midlands as we sold lots from Milton Keynes up to Middlesbrough with one in between in Peterborough, a span of over 200 miles.
“Once again the room was absolutely rammed and there was not a car park space in site.”
Of the residential vacant possession properties 55 sold out of 64 – 86 per cent, it was 71 per cent for vacant commercial properties and 86 per cent of development opportunities.
Sixteen out of 17 local authority lots sold including all those for Birmingham, Solihull and Wolverhampton councils, along with each of six lots for a leading housing association.
The two particularly unusual lots, the former Pump House in Cape Hill and an apartment within historic Patshull Hall, were both snapped up, the former for £64,000 against a guide of £40,000, and the latter for £76,000, £1,000 over guide.
The Grade II Listed former Pump House was put into the auction on behalf of Persimmon Homes – the company is building extensively at the old M&B Brewery site. Unit 10 at Patshull Hall Estate, Burnhill Green, a Grade I Listed mansion in Staffordshire, is a part-finished four bed-roomed property. Dating back to around 1730, the Hall was once owned by a retired Governor of Madras while the 340 acre park, complete with serpentine lake, was created by Capability Brown.
A series of Birmingham City Council car park lots sold well, some tripling their guides.
Barford Street, Highgate, achieved £315,000 against a guide of £100,000; a car park at the junction of Barr Street and Hockley Street, Newtown, £250,000, guide £80,000; ones in Cecil Street/Hanley Street and Cliveland Street, both Newtown, plus Buckingham Street, Hockley, hit £560,000, guide £150,000; Haden Street/Moseley Road, Balsall Heath, £230,000, guide £75,000; and Mott Street/Hampton Street, Newtown, £245,000, guide £80,000.
Of the out of town lots, a substantial five bedroom property at 17 Tatling Grove, Milton Keynes, in a popular residential location, guide £295,000, sold for £410,000; 122 Queens Walk, Peterborough, a seven bedroom former guest house, including separate bungalow, guide £150,000, sold for £157,500; while 49 and 52 Limetrees Close, Middlesbrough, two bedroom terraced properties, guides of £15,000, sold prior to auction.
Other notable transactions were 25 Rookery Road, Wolverhampton, an extended four bedroom semi-detached, made £132,500 off a guide of £50,000; a semi detached house with development potential in Webb Street, Bilston, which included a quarter of an acre of land, guide £24,000, achieved £79,000; and 50 & 50a Anderton Road, Sparkbrook, former offices, guide £68,000, sold for £115,000.