Edgbaston property on market for first time fetches £1.222 million in Bond Wolfe’s May auction
Bond Wolfe’s May auction once again smashed the industry average with 146 lots sold from the 172 offered, for an 85% success rate.
The auction raised over £22.4 million with lots offered from the whole of the Midlands, London, Cornwall, Devon, the north west and north east.
But the undoubted star lot of the day was 116 Gough Road, a prime Edgbaston property in Birmingham which had never been on the market before.
A substantial detached, three storey property converted into nine self-contained flats with development potential, it went under the hammer with a guide price* of £480,000+.
Minutes later, after competitive bidding from mostly intended owner-occupiers, the hammer fell at £1.222 million.
Bond Wolfe chief executive Gurpreet Bassi said: “Gough Road was the icing on the cake in what was another very successful day.
“All credit to our auctioneers Graham Carter and James Mattin, and all supporting staff on the day, who worked incredibly hard to achieve the best prices for our clients.”
The keen interest in Bond Wolfe’s latest auction was evidenced by the data, with 446,953 website page views, 156,234 video tours watched and 33,138 legal documents downloaded.
Other highlights of the day included 21 Elderfield Road, in Kings Norton, Birmingham, which was one of four properties sold on behalf of Birmingham City Council. A three bedroom, end terraced property it was offered with a guide price of £90,000+ and went on to achieve £132,500.
A property in need of considerable refurbishment which was sold on behalf of South Staffordshire Council as part of their empty homes scheme to bring it back into habitable use also saw keen interest.
Offered with a guide price of £91,000+, 104 Hall Lane, Great Wyrley, a two bedroom end terraced property, sold for £130,000.
A spacious four bedroom property at 23 Berwood Road, Wylde Green, Sutton Coldfield, which was offered on behalf of West Midlands Police, sold for £346,000.
There was also keen prior interest in The White Hart, Caldmore Green, Walsall, a substantial former public house which had been converted into eight self-contained flats with further development potential. Offered with a guide price of £385,000+, it sold for £459,000.
Two lots were snapped up prior to the auction with land at 310 Edward Road, Edgbaston, Birmingham, offered with a guide price of £25,000+ which sold for £122,500, and a prominent freehold development opportunity at Lantern House, 129-130 Lichfield Street, Walsall, guided at £330,000+ which sold for £400,000.
And finally, a vacant three bedroom, end terraced house at 104 Gracemere Crescent, Hall Green, Birmingham, sold for £220,000 from a guide price of £95,000+.
Gurpreet Bassi said: “This was another highly successful day, with keen bidding from all parts of the country and abroad on lots across England, and we now look forward to our July auction to build on this momentum.”
Full results of Bond Wolfe’s May auction are available here.
Bond Wolfe’s next auction will start at 9am on Thursday 13 July. If you have a property you are considering selling, visit https://www.bondwolfe.com/free-property-appraisal/ email [email protected] or call 0121 312 1212 or 01902 928 510 for advice or to arrange a free no obligation valuation.