Sales of £31.6m-plus as Bond Wolfe shatters records with largest property auction outside London

Bond Wolfe has made history by hosting the largest property auction ever held outside of London, smashing previous records and achieving sales of more than £31.6 million.

The landmark auction, held on Thursday 12 September, set new benchmarks for Bond Wolfe, featuring the highest total sales revenue in the company’s history, along with the largest number of £1m-plus properties sold in a single event.

In total, there were 177 lots sold, representing an impressive 94% of the 190 lots offered, and the grand total raised was £31,622,050. This brings Bond Wolfe’s running total for the year to more than £131m, an increase of over £20m at the same period in 2023. There had been an exciting run-up in the weeks leading up to the auction, with would-be bidders producing 633,682 website page views, watching 179,445 video tours and downloading 41,492 legal packs.

A number of £1m-plus lots were successfully sold, including the former Maypole Methodist Church on Sladepool Farm Road in Kings Heath, Birmingham, which had a guide price* of £345,000+ but was sold for more than three times that at £1.1m.

Gurpreet Bassi, chief executive at Bond Wolfe, said: “We’re absolutely thrilled by the record-breaking success of this auction. Not only was it the largest property auction ever held outside of London, but the demand and competitive bidding reflect a strong and growing appetite for properties across the UK. This is a clear indication that the property market remains buoyant, and the economy is continuing its recovery.”

Other highlights on the day included the sale of a three-bedroomed, semi-detached house called ‘Highlands’ at 24 Vicarage Road in Penn, Wolverhampton, which sold for £326,000 – well over double its guide price of £150,000+. Back in Birmingham, another three-bedroomed, semi-detached house at 38 Green Road in Hall Green sold for £358,000 – more than 3.5-times its £99,000+ guide price.

Property investors’ enthusiasm was so strong for certain lots that several were sold prior to auction for amounts that were above guide prices. These included eight freehold mixed use investment properties at 10-17 Marsh Lane Parade in Wolverhampton, which had a £1.45m+ guide price, and the former Bearwood Corks Social Club at 558 Bearwood Road in Smethwick, which had a £900,000+ guide price.

With the success of this record-breaking auction still fresh, the Bond Wolfe team is already preparing for their next live-streamed online auction on Thursday, 24th October. Mr Bassi added: “Given the momentum we have built up, we are expecting another highly competitive event, with early indications pointing to continued strong demand from investors.”

Anyone with a property they are considering selling can 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.