Two commercial lots sold for £1.5m each at SDL Auctions Bigwood’s latest Birmingham sale, which raised £17.6m – the second highest total recorded in the West Midlands.
One of the lots, a two-storey 1960s, 17,000 sq ft office block on Tyburn Road in Erdington, sold for more than three times its guide.
Ian Tudor, head of commercial auctions at SDL Auctions Bigwood, said: “The lot was offered on behalf of Birmingham City Council with a guide price of £400,000, which was agreed as a realistic indication of what the property could raise. However, interest in this lot prior to the auction was intense and the significant number of bidders in the room helped to push the sale price up to a £1.5m.”
The other £1.5m sale was a number of properties on Lordswood Road and Lonsdale Road in Harborne. The lot was offered at £1.25m, but fierce bidding took it to £1.5m.
Sale prices ranged from £3,000 to £1.5m. Eight of the 125 lots offered sold for £500,000 or more.
Three former NatWest banks in Leicester, Warwick and Coventry sold for £570,000, £520,000 and £560,000 respectively.
The sale took place at Aston Villa Football Club.
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