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CP Bigwood hits it big in the Midlands

Old-School-Court,-BilstonBirmingham-based CP Bigwood raised £14.8m at its most recent sale – one of the biggest auction results outside London this year.

Of 118 lots offered, 105 sold – an 89% success rate.

The top lot was Old School Court in Bilston, West Midlands. The residential investment comprises 45 flats and produces £250,000 per annum in rent.

It was offered on behalf of a property company and was sold prior to auction for £2.5m to local property group AH Fields.

Another star lot was a five-bedroom house in Kings Norton, Birmingham, which sold for £695,000. Set on 14 acres of grounds, the house comes with a first-floor flat, a long driveway and a pond.

Offered on behalf of a private individual, the house was bought by an owner-occupier.

Ground rent investments performed particularly well on the day, with all 10 lots on offer selling.

Vacant residential lots also sold well, with some 51 out of 53 offered finding buyers.

The auction took place on 30 April at Aston Villa Football Club.

amber.rolt@estatesgazette.com

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