£17.7 million raised at Property auctions
Strong bidding saw the hammer come down at four times the guide price* for certain properties in Bond Wolfe’s first auction of 2022, with total sales of £17.7 million raised.
A three-bedroomed, mid-terraced house at 217 Charles Road in Small Heath, Birmingham sold for £200,000 at the auction on 9 February from a guide price of £50,000+.
And a freehold commercial and residential property at 1471 Pershore Road in the up-and-coming trendy suburb of Stirchley sold for £190,000, also from a guide price of £50,000+.
These were just two of the outstanding results that saw Bond Wolfe sell 132 of the 146 lots offered, recording an overall success rate of 91%.
Bond Wolfe chief executive Gurpreet Bassi said: “The year has got off to a strong start with our first auction which raised over £17.7 million in sales.
“The property market remains buoyant, and the outlook is looking even more positive with further easing of Covid restrictions.”
Another lot that raised competitive bids was for freehold land where the Rising Sun pub used to be located at Barton Street in West Bromwich.
This was successfully sold on behalf of Sandwell Council for £192,000 from a guide price of £50,000+.
Over in Wolverhampton at 139 Tettenhall Road, a four-bedroomed, semi-detached house sold for £235,000 from a guide price of £170,000+.
Up in Staffordshire, a former health centre at Hudson Drive in Burntwood sold for £490,000 from a guide price of £400,000+.
Back in Birmingham, other strong sales included three self-contained flats in an end-terraced property at 1 Abbotsford Road in Sparkbrook, which sold for nearly three times the £100,000+ guide price at £296,000.
Meanwhile, freehold retail premises at 184 Sutton New Road in Erdington being sold on behalf of Birmingham City Council went for £387,000 from a guide price of £200,000+.
There was also a new future beginning for the former Brennan’s Bar at 2 Regent Street in Long Eaton, Derbyshire, a property that was once the town’s Conservative Club. This had a guide price of £250,000+ and was successfully sold prior to auction for £375,000.
Bond Wolfe reported high interest with 596,868 website page views, 150,170 video tours watched, 39,140 legal documents downloaded and 22,985 viewers logging in to the auction.
Mr Bassi added: “Our first auction of the year proved there is phenomenal buyer interest for property up and down the UK.
“With many agencies reporting low stock levels it could be a fantastic time to sell a property by auction.”
Bond Wolfe’s next auction starts at 9am on Wednesday 30 March 2022, and property owners interested in selling can arrange a free auction appraisal by calling 0121 312 1212 or 01902 928 510, or by visiting https://www.bondwolfe.com/free-property-appraisal/