Three entrepreneurial brothers have bought a Black Country house at an auction in Birmingham as their first venture in property development, with the help of Bond Wolfe Auctions.

Taylor, Harvey and Austin Gardener-Newman got the property bug after helping to build their parents’ house in the East Midlands.

The trio enjoyed the experience so much they decided to work together in a new family business called Gingerbread Property Development Ltd and started searching for potential properties to develop in the West Midlands.

This resulted in the brothers, who live and work in Cannock, attending Bond Wolfe Auctions’ auction at Villa Park on Wednesday 13 March and successfully bidding for a detached house in Wolverhampton.

The large, four-bedroomed property at 21 Hordern Road, which also has three reception rooms, a driveway and side garage, had a guide price* of £44,000 to £49,000, but the hammer came down on the brothers’ bid of £145,000.

Taylor Gardener-Newman, aged 26, the eldest brother, said: “We’re delighted with our first purchase and can’t wait to start developing this property.

“We really enjoyed helping to build our parents’ house and decided to use this experience to make a go of it together as property development business.”

Middle brother Harvey Gardener-Newman, aged 23, explained he and his siblings had previously been involved in various businesses but had now decided to focus on working together on property development.

He said: “We had great fun working on the family property together because we get on, work well together and felt we could form a great partnership.”

Austin Gardener-Newman, aged 20, the youngest brother, added: “We spotted this house for sale and felt it had a lot of potential to smarten up, develop and sell, then reinvesting any profits into our next properties.”

Michaela Gardener-Newman, the boys’ mother, said she was thrilled at her sons’ enthusiasm and that she was keen to support them in growing the family business.

She said: “I can help them with paperwork and getting deals on things like bricks and mortar, but it’s these three who will be doing all the hard work and it’s great to see them busy developing a business together.”

Ron Darlington, consultant director at Bond Wolfe Auctions, said: “The Gardener-Newmans are a nice family and we were only too happy to help their search for their first development property.

“They went around a number of different houses but kept coming back to Hordern Road and so we knew that was the one they preferred, and I was delighted to watch their bid succeed.

“This house is a bit of a Tardis and will give them something to get their teeth into. It’s a lot larger inside than it looks from the outside and has a driveway and garage, so there’s no issue with parking.

“It was previously a family home with the elderly mother the last one living there until she passed away, so it’s dated and needs full refurbishment.

“But it has all the potential for making either a lovely family home again or two separate, decent flats.”

Mr Darlington added: “This is typical of the great investments to be found in our auctions, as we always have a range of properties to choose from.”

The 13 March auction at Villa Park saw a total of £16.7 million raised from the sale of 103 properties, and the Bond Wolfe Auctions’ team is now busy taking entries for its second auction on Thursday 9 May.