City council nets £2 million as our May Auction raises over £25.5 million

Our May auction recorded successful sales for sellers across the UK with over £25.5 million raised. The auction saw the hammer fall on properties from across the whole of the Midlands and across the UK from Wiltshire to County Durham.

Auctioneers Graham Carter and James Mattin offered 185 lots, selling 163 for an industry-leading success rate of 89%.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “Our May auction, the third of seven we will live-stream this year, saw competitive bidding, not least for the Birmingham City Council lots we were pleased to be able to offer.”

We successfully sold eight out of nine Birmingham City Council lots offered on the day, with two withdrawn prior to auction, raising circa £2 million. They included land and premises at 86 Hospital Street and Buckingham Street, Birmingham, which sold for £610,000, having been offered with a guide price* of £125,000+. Similar success was recorded for an irregularly-shaped plot of land fronting Great Barr Street, which achieved £402,000 from a guide price of £250,000+. The pace was set for the auction with the first lot of the day, offered on behalf of Birmingham City Council, which saw land and a building on Coventry Road, Solihull, sold for £176,000 from a guide price of £50,000+.

One of the best sales recorded did not reach the auction room, with Jervis Court, a development of 39 self-contained flats in Dog Kennel Lane, Walsall, selling for £1.550 million from a guide price of £910,000+. Other highlights included 17 Jacey Road, a three-bedroom, semi-detached house in Shirley, Solihull, which sold for £280,000 from a guide price of £195,000+. Over in Walsall, a three-bedroom, end terraced house at 36 Broadway West was offered with a guide price of £110,000+, and it sold for £177,000. A three-bedroom, semi-detached home at 633 Bristol Road South, Northfield, Birmingham, sold for £225,000 from a guide price of £185,000+.

In the East Midlands, 86 Nottingham Road, Nottingham, a four-bedroom, mid-terraced house offered a guide price of £110,000+, sold for £186,000. Another great result came with the sale of 35 Heathfield Road in Handsworth, Birmingham, which is a Grade II listed three-bedroom cottage. Offered with a guide price of £150,000+, it sold for £207,000. Equally popular was 4 Edward Avenue, Aldridge, a two-bedroom, semi-detached property offered with a guide price of £95,000+, which sold for £164,000.

In the marketing run-up to the auction during April and May, potential bidders watched 132,149 video tours, and 689,146 website page views were recorded. Interested parties downloaded 37,144 legal documents.

Gurpreet Bassi added: “Another outstanding result from our May auction sets us up to welcome buyers and sellers to our next auction on Thursday 11 July.”

If you have a property you are considering selling, click here, email [email protected] or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free no obligation valuation.