Bond Wolfe Auctions achieves hat trick of £10m plus auctions

Bond Wolfe Auctions’ third auction in its first year of business has once again raised over £10 million with a packed room at Aston Villa FC seeing some highly competitive bidding.

This was the third auction in a row with over 110 lots, raising over £10 million and with a success rate of 80%.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “Not only did we have a packed auction room with 1,500 people in attendance on the day, we also had a record 290 remote bidders, many from London and the South East.

“We hoped for a good day after 3,300 viewings and 30,000 legal packs being downloaded, but you never know until the hammer drops on that first lot of the day.”

From 111 lots offered, auctioneers Graham Carter and Philip Arnold sold 88 for an 80% success rate, raising £10.4 million.

 

The first lot of the day set the tone for the auction.

Viscount House, a freehold former children’s home offered on behalf of Birmingham City Council, sold for £410,000 from a *guide price of £150,000+.

A “tree-mendous” result was achieved for 67 Castle Lane, Solihull, a three bed semi-detached property dominated by a huge tree in the front garden. It sold for an outstanding £234,000 from a guide price of £75,000+.

Bidding was fierce for a two bedroom end terraced house in Edgbaston. Offered with a guide price of just £20,000, 281 Pershore Road eventually sold for £185,000.

In Malvern, a two bedroom detached property at 9 Ranelagh Road, sold for £187,500, form a guide price of £150,000.

Development opportunities are always popular, with a commercial to residential project with full planning permission for conversion to six apartments at Chapel Ash House, 6 Compton Road, Wolverhampton, achieving £234,000 from a guide price of £99,000.

 

Commercial property is also a strong category and two particular properties caught the eye.

In Newcastle-under-Lyme, a former RBS Bank, offered in partnership with agents Avison Young, sold prior to auction for an undisclosed sum said to be way over its guide price of £285,000.

And in Knowle, near Solihull, an office and retail investment at 1622-1622a High Street, which was offered with a guide price of £185,000 sold after the auction for an undisclosed amount considerably in excess of the guide price.

Properties in the East Midland also fared extremely well with a three bedroom mid-terraced property at 26 Harrow Lane, Leicester, selling for £135,000 from a guide price of £40,000+

A similar property at 62 Ambleside Drive, Eyres Monsell, Leicester, sold for £105,000 from a guide price of £30,000+.

In Derby, a four bedroom double fronted mid-terraced property at 175 Birchwood Lane, Somercotes, Alfreton, sold for £92,000 from a guide price of £50,000.

A two bedroom mid-terraced property at 17 Melbourne Street in Coalville, offered with a guide price of £30,000, finally sold for £85,500.

In Belper, Derbyshire, a three bedroom semi-detached house at 8 Shortlands, raised £79,000 from a guide price of £30,000.

 

The focus now switches to Bond Wolfe Auctions’ next sale on Tuesday 10 September at 10.30am at the regular venue of the Holte Suite at Aston Villa FC.