Colebrook Priory sells for more than £1 million as Bond Wolfe raises £23m-plus in July auction

Our property auctions continue to beat the national average, with July’s event resulting in an 87% success rate and raising more than £23.1 million.

The livestreamed auction on 13 July saw 146 lots sold from the 169 offered across the Midlands, London, Cornwall, Wales the North West and North East.

One of the star deals at the auction saw the hammer come down at more than £1 million for a unique development opportunity on a one-acre site in Solihull – one of the most sought-after parts of the West Midlands.

The valuable lot known as Colebrook Priory, at 330-332a Priory Road in Shirley, sold prior to the auction itself for £1,050,000 from a guide price* of £750,000+.

The property, with a varied history involving former corn mills, comprises three dwellings on a site extending to more than an acre with the potential for development for up to seven homes, in addition to Colebrook Priory House.

On the day itself, the star of the show was the impressive Grade II-listed former Victorian factory at 85-87 Vittoria Street, in Birmingham’s fast-developing Jewellery Quarter, which was sold on behalf of Birmingham City Council for £825,000 from a guide price of £350,000+.

Our chief executive Gurpreet Bassi said: “Vittoria Street was the cream of the crop on 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 our latest auction was evidenced by the data, with 476,005 website page views, 198,228 video tours watched and 30,475 legal documents downloaded.

Other highlights of the auction included a detached former Edgbaston nursery, at 117 Pershore Road, sold on behalf of Birmingham City Council, which reached £552,000 from a guide price of £250,000+.

Meanwhile, a three-bedroomed semi-detached house at 64 Old Fallings Lane in Wolverhampton, sold on behalf of Wolverhampton City Council, went for £166,000 from a guide of £117,000+.

And a large mixed-use property in Wolverhampton city centre, at 167-170 Stafford Street, achieved £650,000 from a guide of £600,000+, was sold in conjunction with Watling Real Estate.

Back in Birmingham, a three-storey, semi-detached property at 53 Mayfield Road, Moseley, which has been converted into three flats, was sold on behalf of GreenSquareAccord Housing Association for £384,000 from a guide price of £345,000+.

And a three-bedroomed, semi-detached house at 4 Turton Road in West Bromwich sold for £214,000 from a guide of £99,000+.

One bidder secured a slice of history when the hammer went down on a Grade II-listed former hotel in the Shropshire market town of Wem.

The 18^th Century White Horse Hotel, at 48 High Street, has been empty and disused for 15 years, but its potential saw it secure a sale price of £92,000 on a guide of £50,000+.

There were several other top deals that were sealed before the auction itself, including the former Akrill Methodist Church in West Bromwich which sold for £575,000 from guide of £375,000+.

And the three-storey bar at 7 North Street in Wolverhampton city centre, home of the North Street Social venue, successfully sold for £300,000 from a guide price of £250,000+.

Gurpreet Bassi added: “This was another highly successful day, with keen bidding from all parts of the country and abroad on lots across England and Wales.

“What our results go to show is that the property market is alive, vibrant and kicking as everyone from landlords to developers, and from first-time buyers to investors know the sector is a sound place for their money.

“We are now looking forward to our September auction to continue building on this momentum.”

The full results of the 13 July auction are available here, and our next auction will start at 9am on Thursday 14th September.

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.

* Each property is subject to a reserve price which may be different from the guide price.  Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.