Bond Wolfe Auctions debuts with £16.7 million and 90% success rate
Bond Wolfe Auctions, the UK’s newest auction business, raised a staggering £16.7 million in its first auction in Birmingham.
The auction at The Holte Suite, Aston Villa FC, saw 103 lots out of 115 sold in front of a packed auction with standing room only for the majority of the day.
It was the most successful auction in the Midlands’ since May 2018 based on the amount raised. It was also the most successful since December 2017 based on the percentage sold and chief executive Gurpreet Bassi was absolutely delighted with the results.
“When we launched Bond Wolfe Auctions in January with a highly experienced team that has worked together for a long time, we hoped we would hit the ground running.
“But this result has exceeded all our expectations and we, as a team, would like to thank all our sellers, buyers and suppliers for supporting us in such a dramatic fashion!” he said.
As well as raising over £16.7 million, Bond Wolfe Auctions also recorded, in the run up to the auction, over 37,000 legal pack downloads, attracted over 5,000 viewings and had 200 remote bidders on the day.
Highlights of the day included the locally-listed former Selly Oak Water Tower which was offered with planning permission for three apartments and associated parking. It sold for £238,000, from a guide price* of £100,000+.
A three bedroom detached house at 2 Manor Abbey Road, Halesowen, which requires total refurbishment, sold for £260,000 from a guide price of £140,000+.
An attractive cottage style property which once again requires some renovation and refurbishment at 415 Harborne Road in Edgbaston sold for £220,000. It was offered on behalf of Calthorpe Estates.
A number of commercial properties also attracted substantial interest with a number selling pre auction. These included 93 King William Street in Coventry, a large mixed use city centre investment with redevelopment potential and a current gross income of £65,000 per annum. Offered with a guide price of £595,000, it was sold well in excess just prior to the auction day.
Ian Tudor, managing director said: “These were just some of the highlights in what was a phenomenal auction by any standards, regardless of the fact it was our first auction.
“Our focus now turns to our next auction on Thursday 9 May. We are already receiving enquiries and building another substantial catalogue for our Midlands clients, and those from all over the UK. If you would like a FREE auction appraisal of your property or advice about selling by auction please click here.”