Over £20m raised as Bond Wolfe Auctions smashes records all round

Bond Wolfe Auctions’ February sale set records all across the board.

The £20 million raised means that Bond Wolfe Auctions has raised over £101 million in sales since the business was launched in January 2019 after just 7 auctions!

At Aston Villa FC on Thursday 27 February, the latest auction saw 200 lots sold out of the 212 offered on the day, for an astonishing 95% sales success rate.

Gurpreet Bassi, chief executive, said: “It was an extraordinary day. We have broken our own Midlands record for amount raised, number of properties offered and number of properties sold.

“It was the busiest sales room we have ever had, with queues circling the car park even before our earlier start of 10am. We had a record number of remote bidders by telephone, online and proxy – over 850, and we undertook a record number of viewings, well over 6,200, in the lead up to the auction.”

Highlights of the day were many, and included the sale of three lots for Birmingham City Council, three lots for Sandwell Metropolitan Borough Council and two lots for the Ministry of Justice.

Two lots that sold pre-auction for notable prices included 12 Hamilton Avenue, a three bedroom detached house in Harborne, Birmingham, which was offered with a *guide price of £695,000+ and sold for £860,000.

Similarly, Carters Green Medical Centre, with a guide price of £250,000+, sold for £410,000 before the auction.
Mr Bassi said: “Bond Wolfe Auctions also demonstrated its increasingly national reach with the sale of 100% of East Midlands lots offered – 12 out of 12 – and a three bedroom detached house in Carshalton, Surrey, sold for £452,000 from a guide price of £295,000.”

The first lot of the day set the tone for a record-breaking auction, when 279 Reservoir Road, Selly Oak, Birmingham, a three bedroom semi-detached property offered on behalf of Birmingham City Council with a guide price of £90,000, sold for £152,000.

Other highlights included the former Refinery night club in Burton-on-Trent, a freehold mixed use development opportunity offered with a guide price of £135,000, which ultimately sold for £190,000.

Notable residential sales included 27 Brackendale Way, Stourbridge, a three bedroom detached house which sold for £192,000 from a guide price of £125,000, and a three bedroom semi-detached house at 41 Brian Road, Smethwick, which sold for £171,000 off a guide price of £75,000.

A ten bedroom Grade II-listed house of multiple occupation at 5 & 6 Windsor Terrace in Edgbaston, Birmingham, achieved £750,000 from a guide price of £695,000.

Mr Bassi said: “We believe two factors came together to produce this extraordinary result.

“Clearly, Bond Wolfe Auctions’ reputation for results is spreading nationwide, but it is also clear from talking to our regular clients that Brexit and the resultant political uncertainty leading to a General Election had acted as a brake on buyer and seller confidence.

“The brakes are certainly now off, and we look forward to our May auction.”

Bond Wolfe Auctions’ next sale is on Wednesday 6 May at 10.30am at the regular venue of the Holte Suite, Aston Villa FC, in Birmingham.

Editors’ notes:
Bond Wolfe Auctions are the leading auctioneers in the Midlands* with over 300 years combined property experience. They sell all types of residential, commercial and mixed-use property, investments and land/development sites for private individuals and corporate clients. They will hold six auctions in 2020 at Aston Villa FC as well as offering online auctions, selling properties nationally across the UK.
(*based on the number of properties offered, % properties sold and amount raised in 2019. Figures obtained from Essential Information Group.)

To discuss selling property by auction or for more information about our property auctions Birmingham, please call Bond Wolfe Auctions on 0121 312 1212, email [email protected] or click here to arrange a free auction appraisal.