Commercial property once again proved popular at SDL Auctions Bigwood’s March auction at Aston Villa FC in Birmingham with strong interest from investors throughout the catalogue of 117 lots which raised £13 million.
Ian Tudor, head of commercial auctions at SDL Auctions Bigwood, said: “The latest auction at Aston Villa FC saw competitive bidding, excellent prices and a very good success rate, which is proof of the continuing growth in demand for commercial property at auctions in Birmingham.”
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Early signs that this was to be a successful auction for commercial property came with a corner property, 2 & 4 Walsall Road and 220 Darlaston Road in Darlaston, a freehold, part let commercial shop investment and duplex apartment, which sold for £96,000 from a *guide price of £44,000-£48,000.
Another part-let, part vacant property was 227 Stafford Street in Walsall, a hairdressing salon on the ground floor with two bedroomed maisonette above, which sold for £94,000 from a guide price of £74,000-£78,000.
There was very competitive bidding for 17-18 Norton Road in Pelsall, a freehold semi-detached property with adjoining public toilets and land. Offered with a guide price of £125,000, the hammer eventually fell at £242,000.
68-72 Hob Moor Road in Small Heath, described as a prominent freehold mixed commercial and residential property with the potential to create a high yielding investment opportunity, sold for £360,000 from a guide price of £330.000
Ian Tudor added: “Throughout all the commercial lots in this 117 lot catalogue, there was strong interest, and it is clear these opportunities are proving very popular with investors.”