Property sales of £16 million-plus at Bond Wolfe’s latest auction means £146 million raised so far this year

Expanding national property group Bond Wolfe has attracted total sales of more than £16 million from the 154 lots sold in its latest auction on 20 October.

The revenues now mean that with another auction in December still to go the auctioneer’s year-to-date sales total has reached £146 million, with an average success rate of 93%.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “We were pleased to see that the interest in our auctions remains very high, reflecting the increasing regional, national and global demand for property.

“Despite the prospect of higher interest rates, the marketing period for this auction remained as busy as ever, and we are already handling new calls and emails to enter our next auction in December.”

The build up to the latest busy auction saw 616,767 website page views, with 107,837 video tours watched, a total of 31,491 legal documents downloaded and 17,665 logging in to watch the auction live.

Highlights included two lots of freehold commercial ground rent sold on behalf of Birmingham City Council.

This included ground rents for land and premises at New Summer Street in Newtown selling for £182,000 from a guide price* of £150,000+, and ground rents for nearby 85 New Summer Street selling for £150,000, equal to the guide price.

Over in the Black Country, a plot of land adjacent to 44 Rood End Road in Oldbury was sold on behalf of Sandwell Council for £110,000 – nearly three times its £38,000+ guide price.

Meanwhile, two commercial properties in Bearwood Road were sold prior to auction for way in excess of their guide prices.

This included a ground floor retail unit at 574 Bearwood Road, which had a guide price of £170,000+, and another ground floor retail unit at 590 Bearwood Road, which had a guide price of £125,000+.

Another lot sold prior to auction for nearly three-quarters of a million pounds was a former guesthouse with nine bedrooms and a swimming pool near Sutton Coldfield.

This detached property known as Highfield Farm, overlooking open countryside on Farthing Lane in Curdworth, had a guide price* of £635,000+ but keen interest saw its sale prior to the auction for £740,000.

In a day of numerous strong results at the auction, a standout lot was a substantial double-fronted, end-terraced house converted into three self-contained flats at 6 St. Pauls Road in Balsall Heath, Birmingham.

This property, described as having a potential gross rental income of £19,800 per annum, had a guide price of £100,000+, but keen bidding saw the hammer come down nearly three times higher at £294,000.

Down in Hall Green, a three-bedroomed, semi-detached house at 102 Gracemere Crescent was sold for £187,000 – more than double its guide price of £85,000+.

Bond Wolfe’s successful sales were not just Midlands-based, with two holiday homes based on a popular country holiday park in Cornwall exciting the market.

One was a two-bedroomed holiday home at 46 Hengar Manor, in St. Tudy, near Bodmin, where bidding resulted in a sale price of £56,000 from a guide price of £35,000+.

Another two-bedroom holiday bungalow at 95 Hengar Manor has a guide price of £30,000+ but keen interest saw this sold prior to the auction for £52,500.

Mr Bassi added: “The continuing healthy results we are achieving for vendors across the UK once again demonstrates that the selection of attractively priced properties offered at our auctions results in strong buyers’ appetites.”

Bond Wolfe’s next auction starts at 9am on Wednesday 8 December 2021, and property owners interested in selling can arrange a free auction appraisal by calling 0121 312 1212 or 01902 928 510, or by visiting https://www.bondwolfe.com/free-property-appraisal/