Strong competition for hot lots as Bond Wolfe’s October auction raises £15.6 million

Bond Wolfe’s October auction proved popular once again with buyers from all over the UK and abroad.

The latest sale raised over £15.6 million and saw 106 of the 140 lots sold for a 76% success rate.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “Despite current market conditions and the state of the UK economy, our auctions continue to outperform the industry average. As can be seen by our October results, we continue to achieve some excellent prices for our clients up and down the country and beyond.”

Some 21,123 viewers watched the auction live on the day, and the run up to Thursday 27 October saw 459,962 website page views, 106,293 video tours watched and 26,800 legal documents downloaded.

Highlights included 78 Fashoda Road, Selly Park, in Birmingham, a two bedroom, end terraced house which sold for £180,000 from a guide price* of £25,000+.

Bidders also competed strongly for 29 Hewell Road, a three bedroom end terraced house in the ever popular village of Barnt Green just outside Birmingham, which achieved £261,000 from a guide price of £210,000+.

In Handsworth, Birmingham, 4 Babington Road, a three bedroom, semi-detached home, with a guide price of £120,000+, sold for £141,000

Competition was also strong for 3 Jessel Road, another three bedroom, semi-detached house in Walsall, which realised £110,500 from a guide price of £75,000+.

And Wolverhampton always proves popular with bidders as the sale of 57 Trysull Road, demonstrates vividly. Described as “in need of modernisation”, and offered with a guide price of £19,000+, this two bedroom, mid-terraced house sold for £104,000.

Over in Redditch, there was a lot of interest in the future of Cedars Nursing Home, a 38 bedroom, Grade II listed former care home in approximately 1.12 acres, which was listed with a guide price of £750,000+ but was sold prior to the auction for £900,000 to an undisclosed buyer.

And it’s always no surprise when interest is strong in a property in Four Oaks, Sutton Coldfield, with 3 Woodside , a four bedroom, detached dormer bungalow selling prior to the auction for £740,000 from a guide price of £650,000+.

Gurpreet Bassi added: “We are likely to see increased activity in the auction marketplace in the coming year as investors look to realign their portfolios and first time buyers continue to seek out auction properties for the keen value they offer.”

Bond Wolfe’s next auction will start at 9.30am on Wednesday 14 December.

The auction will be livestreamed 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-auctions-west-midlands/ or email [email protected], or call 0121 312 1212 or 01902 928 510.