Bond Wolfe holds first in-room live auction for two years
Back in the room! Bond Wolfe held its first in-room live auction for two years in the regular venue of the Holte Suite at Aston Villa, Birmingham, and attracted over 1,000 registered bidders online, in-room, telephone and proxy.
The sale featured properties and bidders from London, the North East, North West and across the Midlands, and bidders were also noted from the USA, South Africa and across Europe.
Whether live or logged on, they saw 156 lots sold and over £26 million raised in sales.
Bond Wolfe offered 189 lots and sold 156 for a success rate of 83%, with the lead up to the auction seeing 659,823 website page views, 152,978 video tours watched, and 39,218 legal documents downloaded.
On the day as well as those in a busy auction room, 17,215 viewers logged in to watch the auction live.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “The results provide evidence that demand for property continues to outstrip supply and it is still a great time to sell your property.
“We were pleased that our national reach continues to expand, with visitors and viewers from all over the UK, and also growing numbers from abroad.”
Great results were achieved for the first two lots to go under the hammer, both on behalf of Wolverhampton Council, 46 Mount Pleasant, Bilston, (pictured), which sold for £130,000 from a guide price* of £36,500, and 1 Clarendon Street, Wolverhampton, which was offered with a guide price of £90,000 and sold for £145,000.
Both are vacant, freehold three-bedroom, end-terraced properties in need of refurbishment throughout.
Also popular was 852 Yardley Wood, Moseley, Birmingham, a vacant, freehold, end-terraced property which may be suitable for development, subject to planning permission. It achieved £196,000 from a guide price of £50,000+.
Over in Warwickshire, a vacant, freehold, three-storey, mid-terrace property with four bedrooms at 15 Mill End, Kenilworth, was offered with a guide price of £90,000 and sold for £270,000.
Demand for the much-favoured two-bedroom terraced property continues to be strong, with £216,000 being paid for 156 May Lane, Kings Heath, Birmingham, which was offered with a guide price of £44,000-£49,000.
Commercial properties continue to be seen as bankers, with a workshop-warehouse at 131 Middlemore Industrial Estate, Smethwick, Birmingham, selling for £176,000 from a guide price of £120,000+.
And rural properties with potential also regularly catch the eye, with £374,000 being paid, off a guide price of £225,000+, for Gallows End Cottage, in Rodbaston, Penkridge, in Staffordshire, a vacant, freehold, four bedroom, semi-detached property with development potential, subject to planning permission.
And finally, sold on behalf of the Ministry of Justice, 4 Paterson Avenue, in Wakefield, West Yorkshire, a vacant, freehold, three bedroom, semi-detached house achieved £190,000+ from a guide price of £100,000+.
This all bodes well for Bond Wolfe’s next auction on Thursday 15 September 2022 which starts at 9.30 am.