Demand for auction property still strong

After another marathon online, live-streamed auction starting at 8.30 am, Bond Wolfe Auctions has set a new company record for the most lots offered in a day in its May auction as demand for auction property is still strong.

The event saw 201 lots sold from the 220 offered, representing a success rate of 92% and raising over £23.5 million in sales.

The build-up to the auction reflected the increasing regional, national and global demand for property with 797,107 website page views, 162,792 video tours and 68,228 legal packs downloaded.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “The easing of some lockdown restrictions has helped and the marketing period up to the auction remained as busy as ever, demonstrating that the demand for well-priced property in our live-streamed auctions continues to grow.”

In a day of strong results, standout lots included a three-bedroom, mid-terraced house on Grosvenor Road in Harborne, Birmingham, which sold for £336,000 from a guide price* of £100,000+.

Similarly, a freehold, semi-detached property 15 Botteville Road in Acocks Green which has been converted into two self-contained flats which were also offered with a guide price of £100,000+ went on to raise £280,000 when the hammer fell.

Over in Warwickshire in Leamington Spa, 1 Spencer Street, a substantial townhouse of great character that had previously been used as a nursery and also had a basement apartment, sold for £595,000 from a guide price of £555,000+.

In Kidderminster, Worcestershire, a former pub called The Barrel in Bromsgrove Street, which latterly had been modernised and extended to provide a mixed-use investment of flats, restaurant and storage units, sold for £940,000 from a guide price of £850,000+.

Land off Moxhull Drive in Walmley, Sutton Coldfield, extending to 6.4 acres which were offered with a guide price of £110,000+ eventually realised £272,000.

Lock Keeper’s Cottage, a Grade II riverside property at Holt Heath, near Worcester, sold for £177,500 from a guide price of £160,000+.

Mr Bassi added: “The results once again speak for themselves and demonstrate that the auction buyer’s appetite for attractively priced property remains strong and we are delighted with the results we are achieving for our vendors.”

Bond Wolfe Auctions’ next auction is on Wednesday 21 July and property owners interested in selling can arrange a free auction appraisal by calling 0121 312 1212 or visiting https://www.bondwolfeauctions.com/free-property-appraisal/.