Family home sells for almost eight times guide price as Bond Wolfe auction raises £20m-plus

The strong ongoing confidence in the UK’s property market was reflected by a family home in Birmingham raising nearly eight times its guide price* at Bond Wolfe’s latest auction. The live-streamed auction on 27 March resulted in an 87% success rate that raised more than £20.7 million in total sale prices.

The three-bedroomed, semi-detached property at 28 Langleys Road in Selly Oak was in need of modernisation, and therefore came with an attractive guide price of £50,000+. Competitive bidding saw the hammer finally come down at £394,000 in what was just one of 149 lots sold out of 172 offered.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “Once again, the prices raised in our auction revealed the strong ongoing confidence in the UK’s property market. We offered properties from across whole of the Midlands and spanning the country from Devon to County Durham, with frenzied bidding from local, national and international bidders creating another busy day.

We attract everyone from first-time buyers to landlords, property developers and investors at our live-streamed auctions, an audience always excited by the wide range of properties and great geographical spread they can choose from.”

Another eye-catching result was the £337,500 raised for the Coleshill United Church at 2 Coventry Road in Coleshill, a late Victorian property originally built as a Wesleyan Methodist chapel, which had a guide price of £150,000+.

Back in Birmingham, an impressive £920,000 price was raised for a large, detached and three-storey property converted into six self-contained flats at 111 Gough Road in Edgbaston.

This property, which had development potential subject to any planning permission, had been listed with a £680,000+ guide price and was sold on behalf of a housing association. Up in Sutton Coldfield, a five-bedroomed, detached house at 19 Durley Drive was sold for £393,000 after being listed with a guide price of £250,000+. And down in the south of the city, a three-bedroomed, end-terraced house at 49 Gracemere Crescent on the edge of Shirley was sold for £167,000 from a guide price of £85,000+.

In Derby, a pair of terraced properties converted into a 17-bedroomed residential care facility at 1166-1168 London Road in Alvaston were sold for £425,000 from a guide price of £395,000. This freehold investment, which had rents of £40,000 per annum, had been offered in conjunction with Watling Real Estate. Another lot offered with Watling Real Estate was a saddle makers’ factory at 54 Walsall Street in Willenhall, which was sold for £325,000.

Elsewhere, freehold commercial ground rents on a block of five retail units with four residential apartments above at 81-89 Bridge Street in Walsall were sold for £180,000 on behalf of Walsall Council. Also a small rectangular parcel of land at 44-48 Showell Road in Wolverhampton was sold for £60,000 on behalf of Wolverhampton Council.

Our next live-streamed auction starts at 9am on Thursday 16 May.

Anyone with a property they are considering selling should visit here, 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.