Auction action hits £11million+

Redundant nursing homes and community centres were the star attraction at the latest CPBigwood auction, with some going for around double the asking price.

Children's homeEight went under the hammer at the Holte Suite at Aston Villa football ground as the sale pulled in over £11 million, with more to come.

Lea Hall Centre, 239 Lea Hall Road, Lea Hall, Birmingham, a two storey purpose-built children’s home, guide price £170,000, was bid up to £370,000.

Hurstway, a former care home, 142 The Hurst Way, Erdington, sold prior to the event for nearly twice the £450,000 asking price.

Mulberry House, 37 Park Hill, Moseley, a seven bedroom detached former children’s home in a popular location, guide price £350,000, made £605,000.

27-29 Weather Oaks, Harborne, a pair of semi-detached houses, formerly used as a child and family unit, guide price £150,000, was knocked down to £280,000.

Druids Meadow Elderly Persons Home, 6 Manningford Road, Maypole, Birmingham, a large former elderly persons home, guide price £390,000, saw the bidding finishing on £500,000.

Others to sell were Glebe Farm Community Centre, Glebe Farm Road, Birmingham, guide price £150,000, sold £150,000; 34 Pedmore Walk, Oldbury, a nine bedroom former care home, guide price in excess of £150,000, £160,000; and Freedom Hall, a former Jehovah Witness hall, Jervoise Street, West Bromwich, guide price £100,000, £115,000.

Overall, CP Bigwood sold 87 of the 124 lots that were eventually offered making a 71 per cent success rate.

Total sales hit £11,097,000 with plenty of post auction interest set to push that higher.

All the care homes and community centres found new owners as did residential ground rents and garages.

Other selling percentages were local authority lots, 92 per cent; LPA receivership sales, 88 per cent; residential, 80 per cent; and residential investments, 58 per cent.

There was a mixed response to the 17 public houses available.

Two Bromsgrove pubs, the Queens Head Inn, Sugarbrook Lane, Stoke Pound, and The Country Girl, Sharpway Gate, Stoke Prior, were snapped up prior to the auction.

New owners were found for The Brewery Tap, 50 Lowesmoor, Worcester; The Hollybush, Main Street, Netherseal, Derbyshire; The Clement Arms, 30 Coventry Road, Small Heath, Birmingham; The Trafalgar Inn, 200 Waterloo Street, Burton on Trent; and The Prince of Wales, 101 Harborough Road, Northampton.

The remainder were left still looking for a purchaser.

There was big demand however for the former GWRSA Club, Tolladine Road, Worcester, once connected to British Rail, guide price £120,000, which went for £242,500.

There was a brisk trade in houses and flats.

Cotton Lane Moseley33 Cotton Lane, Moseley, a three-bedroom semi-detached requiring renovation, featuring a guide price of £160,000 sold for £180,000 while Uplands Cemetery Lodge, Manor Road, Smethwick, put forward on behalf of Sandwell Council, with a guide of £60,000 to £70,000, was bought for £100,000.

Others which did well were 2 Glenthorne Road, Erdington, guide price £35,000, sold for £54,500; 20 Great Bridge Road, Bilston, £45,000, £66,500; 324 Wolverhampton Road, Walsall, £39,000, £52,000; 171 Park Lane, Wednesbury, £55,000, £89,000; 35 Furlong Lane, Halesowen, £58,000, £87,000; 53 Wensleydale Road, Perry Barr, £78,000, £113,000; and 77 Oscott School Lane, Great Barr, £48,000, £94,000.

Jonathan HackettJonathan Hackett, partner and head of auctions for CPBigwood, said: “It was another great result and a packed auction room.

“It was our first auction of 2013 and we are expecting an even bigger turnout on May 2 when we hold our spring sale, also at Aston Villa.

“As usual we’ll have something for everybody.”

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