More than £23m raised at latest Bond Wolfe auction, with 85% success rate
An industry-leading success rate of 85% was achieved at Bond Wolfe’s latest live-streamed property auction, which raised a total of more than £23 million.
The property auction on 30 March saw 142 lots sold out of 168 offered, with several stand-out properties including a former petrol station, car wash and small retail unit in the Black Country.
This site on Corngreaves Road in Cradley Heath, which extended to an area of around 0.2 acres, saw the hammer come down at £400,000 – more than four times the guide price of £100,000+.
Meanwhile, competitive bidding for The Hollies at 10 Lichfield Road in Walsall, a former children’s home recently used as offices and sold on behalf of Walsall Council, was sold for £508,000 – more than £200,000 above its initial guide price* of £295,000+.
Another property that received multiple bids was a three-bedroomed, semi-detached house at 385 Rocky Lane in Great Barr, Birmingham, which eventually sold for £160,000 – well over three times the £45,000+ guide price.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “These were just three of numerous lots which resulted in a gripping atmosphere at the auction, with multiple bids flying in both online and by telephone.
“The success rate of 85% is well above the industry average and once again shows how there continues to be a healthy marketplace for properties, with plenty of buyers resulting in excellent prices for sellers.”
Mr Bassi explained that was a total of 683,340 website page views during the run-up to the auction, with 153,959 video tours watched and 40,234 legal documents downloaded, with bidders logging in from across the globe to watch the auction live.
He added: “Bond Wolfe’s property auction dates are now firmly in the diaries of those across the property market, whether they be developers, landlords looking to expand their portfolios or first-time buyers looking for DIY bargains.
“Our online property auctions are well known for not only offering properties across the whole of the Midlands but for also having numerous opportunities across the UK, from Wales to the north-west, from the north-east to Gloucestershire and south into Bedfordshire and beyond.”
Another property attracting strong bids was a three-bedroomed, semi-detached house with development potential, subject to planning consent, at 2 Chiltern Close in Lidlington, Bedford, which sold for £307,000 from a guide price of £195,000+.
At the other end of the country, a two-bedroomed, mid-terraced house at 12 Chapel Street in Evenwood, near Bishop Auckland in County Durham, sold for £35,500 – more than seven times its guide price of £5,000+.
Other stand-out lots included a three-bedroomed, semi-detached cottage at 5 Fyfield, in Lechlade, Gloucestershire, which sold for £479,000 from a guide price of £325,000+.
Up in Worcestershire, a four-bedroomed detached property known as Milford House, at 1 Corbett Street in Droitwich, with planning permission for a side and rear extension, sold for £387,000 from a guide price of £295,000+.
Further north in the county, an acre of land at Chester Road South in Kidderminster, with planning permission to build 15 new homes, sold for £1.25m from a guide price of £1m to £1.25m.
Across the Midlands in Solihull, a mixed retail and office investment bringing in rents of £26,500 a year at 219-221 Stratford Road in Shirley was sold for £367,000 from a guide price of £260,000+.
Another interesting lot was the former Rednal Social Club at 8 Barnt Green Road in Cofton Hackett, on the south Birmingham border.
This property, once popular with workers from the nearly Longbridge car factory, was sold for £438,000 from a guide price of £395,000+.
And a trio of three-bedroomed, terraced houses sold on behalf of Birmingham City Council that all needed extensive works attracted healthy prices. These were properties at:
- 67 Brookvale Park Road in Erdington, which sold for £120,500 from a guide price of 100,000+
- 48 Birdbrook Road in Great Barr, which sold for £136,000 from a guide price of £50,000+, and
- 76 Repton Road in Bordesley Green, which sold for £172,000 from a guide price of £145,000+.
Bond Wolfe’s next property auction will start at 9 am on Thursday, 18 May 2023.
The property auction will be live-streamed via Bond Wolfe’s website with remote bidding by proxy, telephone or Internet.
For more details and to register to bid visit www.bondwolfe.com/property-