SDL Auctions Bigwood’s auction raises £16.4 million
SDL Auctions Bigwood’s May auction at Aston Villa FC raised over £16.4 million, with strong bidding for residential lots in a very busy auction room.
Gurpreet Bassi, Head of Residential Auctions, said, “Our third auction of the year in Birmingham sold all 100 lots offered by Birmingham City Council and all the ground rents.”
One of the most eagerly anticipated properties was the House on the Hill, 64 Rosemary Road in Little Aston, Sutton Coldfield, a substantial freehold detached property with planning permission to be redeveloped to create a 22 bedroomed care facility and sold prior to the auction.
Gurpreet said, “We were inundated with requests for viewings and had several offers on this property. We were very pleased with the result. It had a *guide price of in excess of £700,00 and sold for just over £1.1m.”
Elsewhere in the auction, a three bedroomed, semidetached house in Halesowen was typical of the competitive bidding seen in the auction room. The property at 54 Whitley Avenue in Halesowen (pictured) was offered with a guide price in excess of £70,000 and when the hammer fell it had sold for £171,000.
Gurpreet added, “We raised over £16.4 million in our May auction and achieved an 85 per cent success rate which bodes well for our next auction.”
SDL Auctions’ next Bigwood auction is at Aston Villa FC in Birmingham on 18th July.
