CP Bigwood posted its best result in 18 months, raising £11.1m at its 28 February auction.
The West Midlands firm offered 124 lots and sold 87, including 11 prior, equating to a success rate of 70% at the sale, held at Aston Villa Football Club, Birmingham.
The auction included 13 local authority lots, of which 12 sold. Most sold for significantly in excess of their guide prices.
Auctioneer Rory Daly said prices soared because of multiple bidders battling for the lots.
A former children’s home in Moseley, Birmingham, was bought for £605,000 off a guide of £350,000, while a vacant former care home in Birmingham, sold for £500,000 off a guide of £390,000.
John Brookes and his son Adam purchased a cemetery lodge (pictured) on Manor Road, Smethwick, which was offered on behalf of Sandwell council, for £96,000 off a guide of £60,000.
“We are going to put it back to as close to its original state as possible,” said Brookes. “It was very good value and had been neglected by the council, as typically these old buildings are.”
Daly said: “It is often the case that council lots are perfect auction lots because they are being sold to avoid having money spent on them. By definition, they are properties that have potential.”
samantha.baden@estatesgazette.com
