CPBigwood’s latest auction smashed all previous results boosted by the rush to beat the Government’s buy-to-let tax rise.

With a three per cent stamp duty surcharge coming into force on April 1, the Holte Suite at Aston Villa Football Club was packed.

Jonathan Hackett, head of auctions, said: “The level of interest from buyers wanting to get in before the deadline was very pronounced.

“The total sale was a staggering £17,569,500. It was just fantastic. There were well over 1,000 people in attendance with 800 prospective bidders registered, another record.”

The new record beats the old £14,770,050 target set in July 2015, when 104 lots (93 per cent) out of 116 lots.

A total of 128 properties were sold out of 138 offered, 93 per cent.

The new record beats the old £14,770,050 target set in July 2015, when 104 lots (93 per cent) out of 116 lots.

One hundred per cent of the Birmingham City Council, Wolverhampton City Council and Sandwell Metropolitan Borough Council lots were snapped up, plus it was two out of two for Birmingham and Solihull NHS Foundation Trust.

The full outcomes were residential vacant properties, 96 per cent sold, residential investment properties, 92 per cent, development opportunities and land, 92 per cent, commercial investment properties, 83 per cent, and commercial vacant, 71 per cent. And again there was strong interest in freehold ground rents and garages where 100 per cent of the lots sold.

Pype Hayes Park Lodge, a Grade II Listed former park keeper’s home, went for £185,000 from a guide of £100,000.

Tamebridge House in Perry Barr, a long leasehold modern four storey office building situated on the edge of an industrial estate adjacent to the River Tame, hit £915,000 from a guide price of £750,000.

A former elderly persons day centre, Corner House Resource Centre, 300 Dunstall Road, Wolverhampton, with planning for six apartments, sold for £330,000 from a guide of £220,000. Also in Wolverhampton, Bramerton House, Bramerton Close, a one time children’s home made £330,000 from a guide of £230,000.

A former NHS Day Centre, 176 Soho Hill, Birmingham, from a guide of £245,000, fetched £455,000.

A freehold multi-let investment office, Hollins Business Centre, Rowley Street, Stafford, sold for £490,000 from a guide price of £350,000, while a refurbishment opportunity at 7-13 Warwick Street, Daventry, saw bidding close at £240,000 from a guide of £100,000.

Given the buy to let changes, residential properties were in big demand.

Derelict 19 Chester Street, Wolverhampton, in need of complete renovation, was bought for a massive £100,000 from a guide of £20,000.

A detached property at 46 Newton Road, Great Barr, standing on approximately a third of an acre, which attracted more than 300 pre-auction viewings, sold for £230,000 from a guide of £89,000-£99,000.

A freehold detached cottage with development opportunity, 175 Kidderminster Road, Dodford, Bromsgrove, sold for £155,000 from a guide of £99,000.

A double fronted mid terrace property at 12 Newland Road, Small Heath, from a guide of £50,000, sold for £96,500.

Meanwhile 14 Wilson Road, Oldbury, from a guide of £75,000 sold for £139,000, attracting more than 100 pre-auction viewings.

Andrew Bryant, CPBigwood, residential sales and lettings manager, said: “We were expecting this buy-to-let surge.

“Landlords will undoubtedly be looking to rent out many of these properties post-completion, so that is good news for potential tenants.

“At present we are dealing with many landlords who have bought properties with tenants in situ – that’s a process in itself.

“But with demand still outstripping supply we continue to seek lettings instructions.”