Godwin weighs options for major five acre site in Leicestershire

Pic cap: Landowner Mark Webster with Stuart Pratt, group development director of Godwin Developments

 

Godwin Developments in Birmingham has acquired a major site in the historic town of Shepshed in Leicestershire.

 The five acre site in Ashby Road lies close to the Shepshed Interchange, Junction 23 on the M1, providing good links to the north and south.

 Godwin’s group development director Stuart Pratt said: “This is a key strategic site which we have purchased unconditionally.

 “It is well located with the centre of Loughborough less than 15 minutes away by car.

 “We will now weigh up our options for this site, in discussion with the local authority, Charnwood Borough Council, with a view to providing the right development that matches both local requirements and demand.”

 Historically, a centre for the wool trade, Shepshed has a population of around 14,000 and is handily placed for businesses and commuters. East Midlands Airport is less than five miles away and Birmingham International Airport is 35 miles along the M42. Rail commuters are served by the nearby Loughborough Station.

 Law firm Shakespeare Martineau acted for Godwin Developments.

Ends (169 words) 

For further information, please contact:

Shivani Parmar, Marketing Manager,

Godwin Group 1 Newhall Street, Birmingham, B3 3NH

0121 516 9508

Prepared and issued by Andy Skinner of ASAP PR – 01789 490786, mobile 07990 978257. 

Editors’ Notes

Godwin Group is a UK focused regional property development and investment company. It has offices in Birmingham, Nottingham and London. The company has a strategy of acquiring and building out an extensive and diversified portfolio, either on its own account or in partnership.

REI reports underlying profits up 16% and portfolio at £225 million

Birmingham-based Real Estate Investors plc has reported a year of continuing growth on all fronts in its results to 31 December 2018.

Underlying profit before tax was up 16.1% to £7.2 million from £6.2 million in 2017 reflecting a year of strong office occupier demand and rental growth with occupancy standing at 96% (2017 – 92.8%).

Contracted rental income was up 4.9% to £17 million from £16.2 million. The company has reduced its average cost of debt to 3.7% with 67% of debt fixed and conservative loan-to-value gearing at 39%.

REI’s dividend rises for the sixth consecutive year – up 14% on 2017.

Chief executive officer Paul Bassi said REI was alert to opportunities to snap up mis-priced assets where overly negative sentiment towards the high street, or Brexit nervousness, is creating buying opportunities.

REI can currently call on £25 million of cash and facilities for opportunistic transactions, with further headroom available if required.

The company has identified 250,000 sq ft within its portfolio of permitted development opportunities for conversion to residential.

The first of such residential conversion value creation opportunities was the sale of offices at Citygate House, Leicester, which was sold with permitted development rights for £2.6 million and is due to complete in June 2019, representing a 40% uplift to the December 2017 book value.

Paul Bassi said: “In addition, the 2018 results do not include residential planning consent for approximately 100 units in Coseley, which is expected to be sold to a residential developer for significantly more than existing book value.”

He said the results for 2018 reflected the gathering pace of work on HS2, population migration from London and refocusing of investors on the regions, driving increased value in asset classes around Birmingham and the wider Midlands.

“Our main objectives for the year were to continue to increase shareholder value, refinance unencumbered properties and deploy the funds generated in criteria compliant investment properties, continue our progressive dividend policy, and increase our underlying profit before tax, EPRA earnings per share and net assets per share.

“All of these objectives have been achieved.

“These are a good set of results, showing growth in our underlying profits and dividends underpinned by a portfolio now being valued at £224.8 million.

  “In 2019, we expect to continue to prosper from the popularity of Birmingham and the wider Midlands, as the region’s economy benefits from the arrival of HS2, Coventry City of Culture 2021 and Commonwealth Games 2022.

“We anticipate seeing off-market opportunities on the back of the current financial and political volatility.  We welcome these periods of uncertainty, as they often bring mis-priced assets to the market which, with our local expertise and financial strength, we can move quickly to capitalise on.

“Our portfolio is balanced, has the necessary depth for us to continue to generate value through intensive asset management activities and, together with positive tail winds from the substantial investment coming into the region, REI is well-placed to prosper further.”

During the year, REI completed £15.4 million of investment property acquisitions (net of acquisition costs) and £5.7 million of strategic sales.

The portfolio is valued at £224.8 million (2017: £213.1 million), an increase of 5.5% and contracted rental income has grown to £17 million p.a. (2017: £16.2 million p.a.), up 4.9%.   The company’s property portfolio currently comprises 1.55 million sq ft of commercial property including 52 assets with 269 tenants and a net initial yield of 7.26%.

Mr Bassi added: “Our portfolio is strategically well positioned across the Midlands region and, despite a highly competitive investment market, we have acquired a variety of high yielding, quality investment assets during the period.”

“Overall, the Midlands property market is positive with pockets where it is buoyant. Currently demand is especially strong for out of town areas such as Solihull and the M42 corridor for which vacancy rate has reached a 10-year low.  These conditions suit REI as they require local knowledge with which to flourish.”

Ends (653 words)

 For further information, please contact:

Paul Bassi CBE DL D. UNIV,
Chief Executive, Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 212 344 

www.reiplc.com

Prepared and issued by ASAP, 01789 490786, mobile, 07990 978257 

About Real Estate Investors Plc

Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.

The Company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.

On 1st January 2015, the Company converted to a REIT.  Real Estate Investment Trusts are listed property investment companies or groups not liable to corporation tax on their rental income or capital gains from their qualifying activities.

The Company aims to deliver capital growth and income enhancement from its assets, supporting a progressive dividend policy. Further information on the Company can be found at www.reiplc.com

 

Bond Wolfe Auctions debuts with £16.7 million and 90% success rate

Bond Wolfe Auctions, the UK’s newest auction business, raised a staggering £16.7 million in its first auction in Birmingham.

The auction at The Holte Suite, Aston Villa FC, saw 103 lots out of 115 sold in front of a packed auction with standing room only for the majority of the day.

It was the most successful auction in the Midlands’ since May 2018 based on the amount raised and the most successful since December 2017 based on the percentage sold and chief executive Gurpreet Bassi was absolutely delighted with the results.

“When we launched Bond Wolfe Auctions in January with a highly experienced team that has worked together for a long time, we hoped we would hit the ground running.

“But this result has exceeded all our expectations and we, as a team, would like to thank all our sellers, buyers and suppliers for supporting us in such a dramatic fashion!” he said.

As well as raising over £16.7 million from the 103 lots sold out of 115 offered, Bond Wolfe Auctions also recorded, in the run up to the auction, over 37,000 legal pack downloads, attracted over 5,000 viewings and had 200 remote bidders on the day.

Highlights of the day included the locally-listed former Selly Oak Water Tower which was offered with planning permission for three apartments and associated parking. It sold for £238,000, from a guide price* of £100,000+.

A three bedroom detached house at 2 Manor Abbey Road, Halesowen, which requires total refurbishment, sold for £260,000 from a guide price of £140,000+.

Another strong performer was 37 Brian Road, Smethwick, a three bedroom semi-detached house which was offered with a guide price of £75,000+ before highly competitive bidding saw the hammer eventually fall at £164,000.

A further Smethwick property, a three bedroom semi-detached house at 29 Watery Lane, also saw competitive bidding before it sold for £99,500 from a guide price of £59,000-£64,000.

An attractive cottage style property which once again requires some renovation and refurbishment at 415 Harborne Road in Edgbaston   sold for £220,000. It was offered on behalf of Calthorpe Estates.

A number of commercial properties also attracted substantial interest with a number selling pre auction including 93 King William Street in Coventry, a large mixed use city centre investment with redevelopment potential and a current gross income of £65,000 per annum. Offered with a guide price of £595,000, it was sold well in excess just prior to the auction day.

Ian Tudor, managing director said: “These were just some of the highlights in what was a phenomenal auction by any standards, regardless of the fact it was our first auction.

“We would particularly like to thank our auctioneers Graham Carter and Philip Arnold who worked tirelessly throughout the day to draw the best possible prices from the auction room and our many telephone and online bidders.

“Our focus now turns to our next auction on Thursday 9 May and we are already receiving enquiries and building another substantial catalogue for our Midlands clients, and those from all over the UK, particularly London and the South East, to get their teeth into.”

Ends (518 words)

* Each property is subject to a Reserve Price which may be different from the Guide Price.

For further information, please contact:

Suzanne Randell, Head of Marketing and Communications,

Bond Wolfe Auctions,

1st Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 312 1212

www.bondwolfeauctions.com

Prepared and issued by Andy Skinner of ASAP, 01789 490786, mobile, 07990 978257

Editors’ notes:

Bond Wolfe Auctions has a record breaking and award-winning team with over 250 years of combined property experience.  They sell all types of residential, commercial and mixed-use property, investments and land/development sites for private individuals and corporate clients. They will hold six auctions in 2019 at Aston Villa FC as well as offering online auctions, selling properties nationally across the UK.

Developer buys Wolverhampton office block and plans residential conversion into 40 flats

A developer has bought a prominent office block in Wolverhampton city centre and now plans to convert it into up to 40 flats, in a deal assisted by Bulleys and NG chartered surveyors.

Bulleys, the leading Midlands industrial and commercial property consultancy, secured the £755,000 deal for Evans Mann Commercial Ltd to purchase George House on Bond Street from Amjad & Sons Properties Ltd, represented by NG.

The three-storey premises measuring 11,650 sq ft are located on the corner of Bond Street overlooking the grounds of St John’s Church, an established professional and commercial quarter which is a close walk away from the city’s main retail area.

Thomas Mann of Evans Mann Commercial Ltd said: “We’re thrilled to have purchased this great property which is in the perfect location for residential conversion.

“Once the remaining business tenants relocate out of George House this summer, we hope to get permitted development plans through to add another floor, which has been done on neighbouring properties in the area, and to create up to 40 flats in a residential conversion.

“It will be a really exciting plan, employing plenty of construction workers, and bringing more people back to live in what’s becoming a thriving little community in the middle of Wolverhampton city centre.”

James Bird, a senior associate at Bulleys, said: “We were delighted to secure the sale of this office block to Evans Mann which plans to build much-needed accommodation in Wolverhampton city centre, subject to planning permission.

“The building is based in an area near to lots of bars, restaurants and other public amenities, plus it has a self-contained car park and is perfectly located with easy access to the A4150 ring road.”

Charlotte Steggles of NG chartered surveyors, said the vendor Amjad & Sons Properties Ltd had originally bought George House as an investment but had been keen to sell to enable residential development.

Ends (314 words)

Editors’ notes

Established in 1965, Bulleys is an established commercial and industrial property consultancy covering the West Midlands, Staffordshire and Shropshire. The firm has three offices in Wolverhampton, Oldbury and Telford.

Wait until the new tax year before separating, Thursfields warns potential divorcees

Anyone thinking of separation and divorce might be better off waiting until the new tax year starts on or after 6 April 2019, according to Thursfields Solicitors.

The warning from the Midlands leading law firm is focused on the potential impact of Capital Gains Tax (CGT), the tax on the profit when you sell or dispose of assets that have increased in value, costing up to 28% of gains from property sales, or up to 20% of gains from other assets.

Susanne Leach, associate solicitor in the Family department in Thursfields’ Kidderminster office, explained: “Up to and including the tax year of separation only, the transfer of assets between spouses is exempt from CGT as ‘connected parties’ with no gain and no loss. 

“That’s the position until Decree Absolute, even though you may no longer be living together at the time of the transfer, and applies to assets such as an interest in a rental property or holiday home, investments or shares in a family business between husband and wife.

“After the tax year of separation, the transfer of assets between spouses will usually be treated as a ‘transfer at market value’, which means any gain in value since the asset was acquired may be liable for CGT.”

Ms Leach pointed out that potential CGT is not only significant to the overall assets but will also raise the question of who’s responsible for any liability, making the timing of divorce petitions a potentially crucial matter.

She said: “It may be disadvantageous to separate in March if the transfer of assets between you may give rise to CGT, given only a few weeks of the current tax year are left.

“The date of separation is a factual issue, and there may be an advantage to separating and issuing divorce proceedings early in the tax year to give time to reach a financial settlement, including a transfer of any assets which may attract CGT.”

Ms Leach underlined the importance of discussing such issues with an experienced matrimonial lawyer. She can be called on 01562 512428 or emailed at sleach@thursfields.co.uk.

Ends (349 words) 

For further information, please contact:

Dani James, Business Development Manager, Thursfields Solicitors

Email: djames@thursfields.co.uk Tel: 01905 677066

Or

Steve Dyson at ASAP PR – 0781 8004575.

www.thursfields.co.uk, Twitter – @Thursfields, LinkedIn – www.linkedin.com/company/thursfields

Notes to Editors

Thursfields Solicitors is one of the region’s longest established and reputable law firms, with more than 150 staff in eight offices across Worcestershire and the West Midlands. Thursfields Solicitors provides a full range of legal services to business and the private individual, including property, family, employment and commercial law as well as probate and litigation. The firm has offices in Worcester, Kidderminster, Halesowen, Sedgley, Stourport-on-Severn, Solihull and Birmingham.

Crowe UK celebrates year of growth

Crowe UK celebrates year of growth

Crowe UK is celebrating a very strong year for revenue growth. The firm’s approach to client service excellence and focus on the specific needs of the markets in which it operates, further reinforces Crowe’s position as a recognised leader in the UK for audit, tax advisory and risk services.

As reported in the International Accounting Bulletin World Survey published in February, Crowe UK, the UK member firm of Crowe Global, saw double-digit revenue growth.

This leap follows a successful global rebrand in 2018 and further increasing its offering across its sectors and service lines to deliver a quality service to its clients that is seamless and responsive to the market place, wherever they choose to operate.

Johnathan Dudley, Regional Managing Partner in Crowe’s Midlands office, said: “Our clients across the West Midlands clearly welcome the twin benefits of local advice with global reach. Businesses across the region are increasingly viewing the post-Brexit landscape as an opportunity to reach out not only into Europe but also to examine the potential of other markets across the world.

“We are ideally placed to advise and help them achieve their goals.”

Crowe Global meanwhile consolidated its position as the eighth largest accounting network in the world, with firms across the network also seeing strong performances. As a whole, the network reported increased revenues of 14% to USD 4.3 billion.

Nigel Bostock, Chief Executive at Crowe UK, said: “We keep our clients at the heart of everything we do, and it is a testament to the dedication and professionalism of all of our people that we are recognised for the trusted advice we provide.

“2018 was a year of many successes for Crowe in the UK. Not only did we celebrate our 175th anniversary as a firm, but we also came together under the one global ‘Crowe’ brand, further strengthening our position as market leaders. These figures published today support our position of operating as a national firm with global reach and local expertise.”

David Mellor, CEO at Crowe Global, said: “The headline figures – in particular double-digit growth across the network – speak for themselves and should be celebrated. We are immensely proud of the work we have done throughout 2018 in a rapidly-evolving marketplace and are already building on those successes as 2019 gets underway.

“The past year has been a period of significant change for Crowe and we have sought to position ourselves for continued future growth through investment in our people, as well as in processes and technology. It is pleasing to see the numbers reinforce the positivity we see around the network on a daily basis.”

The IAB World Survey is published each year, which analyses the performance of the world’s top 40 accounting networks and associations.

For more information on Crowe, please visit: www.crowe.co.uk

Ends

Contacts:

 

Miriam Sherwood, Marketing Manager (Regions), Crowe UK. Tel: 0121 543 1900

 

Notes to Editors:

About us
Crowe is a national audit, tax, advisory and risk firm offering global reach and local expertise. We are an independent member of Crowe Global, the eighth largest accounting network in the world. With exceptional knowledge of the business environment, our professionals share one commitment, to deliver excellence.

We are trusted by thousands of clients for our specialist advice, our ability to make smart decisions and our readiness to provide lasting value. Our broad technical expertise and deep market knowledge means we are well placed to offer insight and pragmatic advice to all the organisations and individuals with whom we work. Close working relationships are at the heart of our effective service delivery.

In June 2018 Crowe UK changed its name from Crowe Clark Whitehill LLP, as part of a global rebrand across the Crowe Global network. The rebrand saw more than 220 member firms globally adopt the name Crowe.

For more information, visit: www.crowe.co.uk

  • Follow Crowe UK on LinkedIn
  • Follow Crowe UK on Twitter @CroweUK

Industry recognition

Crowe are leading advisors to the UK mid-market and hold a top 10 position in the 2018 Corporate AIM Adviser Rankings in Technology, Basic Materials, Oil and Gas, Industrials, Consumer Goods and Financials.

The firm was named: Top Charity Auditor of the Year (Charity Financial Audit League Table 2009 -2017), Best Tax Investigations Team (Taxation Awards 2016) and Best Human Capital/Employment Tax Practice (Taxation Awards 2018).

Thursfields encouraging West Midlands’ global trading companies to tighten up foreign commercial contracts

Canny companies in the West Midlands are formalising their supply, distribution and agency contracts whether they trade in Europe or on a global scale, according to Thursfields Solicitors.

Stuart Price, corporate and commercial director in the Birmingham office of Thursfields, said that Brexit and the need to trade on a global stage, had prompted many companies to tighten up and possibly extend their formal trading relationships with their foreign-based distributors, suppliers and customers.

“The canny ones are ahead of the game and have been putting more formalised relationships and agreements in place in the period since the results of the referendum on the UK’s membership of the EU were known,” he said.

The Birmingham office of Thursfields Solicitors has recently been advising companies trading with the United Arab Emirates, China and Germany, among others.

“Political developments and the increasing awareness of the 24/7, 365 days a year, nature of global trade combined with giant strides in e-commerce and fulfilment, has focused the mind of many CEOs and business owners,” said Stuart Price.

He said it was absolutely essential that companies understood not only how UK legislation affected them but also how any agreement would be treated in the target jurisdiction.

“There are many kinds of ‘business to business’ agreements, whether supply, distribution, agency or franchise, and it is vitally important to understand the differences and distinctions between all of them.”

A supply agreement sets out the basis upon which a supplier will provide goods or services, either to the end users or another business operating in a wider supply chain.

A distribution agreement forms the relationship between a supplier and a customer, where the customer purchases goods to then sell on in a particular territory. Often this type of agreement is exclusive and operates to lock out other competitors.

An agency agreement will come into effect where a company wishes to appoint someone in a particular territory to use their contacts in that that territory to market products. When orders are obtained, the company will then enter into a supply contract directly with the customer, often paying the sales agent a commission. 

A franchise agreement enables someone to purchase the right to operate a turnkey business operation in a particular territory. Again, there is often a degree of exclusivity in these arrangements, and generally intellectual property owned by the franchisor, is licensed for use.

The franchisor will often create what is known as a master franchise agreement for a wider territory and the recipient of that master agreement, will have the exclusive right to offer franchises to franchisees in that territory. This is, therefore, an effective way of growing an international franchise operation.

Stuart Price said: “Whereas no one likes onerous paperwork, taking the time to formalise your commercial relationships can actually be welcomed and bring comfort to both parties.”

“A little bit of certainty in a relationship is a rare commodity in these difficult times and something to be cherished by both parties!” he said.

Ends (496 words)

For further information, please contact:

Dani James, Business Development Manager, Thursfields Solicitors

Email: djames@thursfields.co.uk Tel: 01905 677066 

Or 

Andy Skinner at ASAP PR – 07990 978257.

www.thursfields.co.uk

Twitter – @Thursfields

LinkedIn – www.linkedin.com/company/thursfields

Notes to Editors

Thursfields Solicitors is one of the region’s longest established and reputable law firms, with more than 150 staff in eight offices across Worcestershire and the West Midlands. Thursfields Solicitors provides a full range of legal services to business and the private individual, including property, family, employment and commercial law as well as probate and litigation. The firm has offices in Worcester, Kidderminster, Halesowen, Sedgley, Stourport-on-Severn, Solihull and Birmingham.

Godwin acquires prominent two acre site in Bletchley

Godwin Developments in Birmingham has announced it has exchanged contracts on a site in Bletchley, Milton Keynes, where it will construct 184 apartments in phase one of a build-to-rent (BTR) scheme. 

The development on Bletchley View will also include three commercial units and total more than 165,000 sq ft with a gross development value of £50 million for the first phase – part of a total project valued at £125 million. 

James Mulcare, land director at Godwin Developments, said: “We are delighted to have exchanged contracts on such a prominent site in Bletchley. As an excellent commuter town, we see the development providing much needed private rented accommodation.”

Godwin was attracted to the site as it is close by rail connections with a three minute walk to the train station offering a 40 minute commute into London.

Bletchley is equally accessible by car, being just eight miles from Junction 13 of the M1 leading into the national motorway network.

The town is best known for Bletchley Park which was once the central headquarters for British codebreakers during World War II. The site was originally selected because it was equidistant between Oxford and Cambridge.

Construction is scheduled to start on site at the end of the third quarter of 2019 with completion in early 2021. The development will include a mix of one and two bedroom apartments.

Godwin Developments was advised by law firm Morgan LaRoche and CBRE London sold the site on behalf of the bank 

Ends (245 words 

For further information, please contact:

Shivani Parmar, Marketing Manager,

Godwin Group 1 Newhall Street, Birmingham, B3 3NH

0121 516 9508 

Prepared and issued by Andy Skinner of ASAP PR – 01789 490786, mobile 07990 978257.

Editors’ Notes

Godwin Group is a UK focused regional property development and investment company. It has offices in Birmingham, Nottingham and London. The company has a strategy of acquiring and building out an extensive and diversified portfolio, either on its own account or in partnership.

Rowdy short-term lettings causing a headache for apartment owners

Airbnb and other short term letting websites are causing increasing irritation for owners in residential blocks, according to Ian Smallman, a director of Principle Estate Management.

“It is becoming a real problem, especially within city centre locations where you often come across owners and even tenants sub-letting via Airbnb and similar services,” he said.

“Occupiers of the block often complain about groups, usually younger people, being rowdy and partying until the early hours of the morning, causing damage to the communal areas and more often, just being a nuisance.”

For many owners of long leasehold flats this has caused huge problems with managing agents alleging that such lettings are in breach of the lease. Freeholders and their agents have then pursued the owner for breach of lease and claimed recovery of all their costs.

Ian Smallman said: “The starting point is always to look at the lease and see what provisions it contains in respect of sub-letting and the use of the property. Most leases have some restrictions as to sub-letting or use.

“The freeholder can apply to the First Tier Tribunal for a determination that the leaseholder is breaching their lease under section 168 of the Commonhold and Leasehold Reform Act 2002.”

Various cases have been to the First Tier tribunal with no consistency of decisions. However the Upper Tribunal in Nemcova v. Fairfield Rents Limited [2016] UKUT 303 (LC) has now offered some guidance.

In this case, the lease allowed sub-letting but provided that the premises must be used “as a private residence.” While the Upper Tribunal made very clear each case is fact specific, it supported the decision of the First Tier Tribunal that the short terms lettings arranged by the leaseholder were a breach of covenant.

Mr Smallman said: “In so determining the tribunal at both instances was satisfied that short term lettings via Airbnb were not such that the occupants were occupying as a private residence, which the tribunal accepted essentially meant as their home.

“If you own a flat and sublet it, you need to ensure you are complying strictly with the terms of your lease. If you then become aware that your tenant is sub-letting it is critical that you take action to prevent you being challenged by your freeholder.

“The flat owner, if successfully pursued by the freeholder for breach of lease, may end up having to pay all of the freeholder’s costs to ensure they avoid forfeiture, i.e. losing the ownership of their flat,” he said.

Ends (415 words)

For further information please contact:

Brett Williams, Principle Estate Management LLP, Cornwall House, Lionel Street, Birmingham B3 1AP

Tel: 07954 078711 / 0121 289 4315

Email: BWilliams@PrincipleEstate.co.uk

www.PrincipleEstate.co.uk

https://twitter.com/PrincipleEM

https://www.linkedin.com/company/principle-estate-management/

https://www.facebook.com/PrincipleEstateManagement/

Editors’ notes: 

Principle is a customer-focused managing agent providing a transparent property management service to the highest standards nationwide. Principle Estate Management is a new venture based in Birmingham and led by experienced chartered surveyors. The business was born out of a passion for “doing it right” through a director-led, friendly approach combined with robust systems that maximize efficiency. Principle Estate Management provides a service that we believe sets the aspirational standard for other agents. We manage modern apartment buildings, traditional blocks of flats, mixed use developments, private housing estates and private rented sector (PRS) or build to rent (BTR) developments as well as portfolios of rented properties for residential or commercial landlords.

Bond Wolfe Auctions launches March catalogue with over 100 lots

Pictured – Gurpreet Bassi and Ian Tudor

Bond Wolfe Auctions has hit 100+ lots for its first auction in March which will be the largest auction held in the Midlands for six months.

It will feature a diverse range of properties with guide prices ranging from £5,000 to £2.6 million and cover a wide geographical area including London.

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “The West Midlands auction market has voted with its feet.

“We are delighted that so many old and new clients have chosen to put their faith in us and committed to our first of six auctions this year.

“We have seen lots of early interest in this auction with over 1,000 viewings having already taken place. We look forward to welcoming a lot of familiar faces to Villa Park on Wednesday 13 March.”

As well as regular auctioneer Graham Carter, Bond Wolfe Auctions will also be welcoming one of the UK’s best known auctioneers on to the rostrum.

Phillip Arnold, who is the past president of the National Association of Valuers and Auctioneers (NAVA) and an experienced London-based auctioneer, will be taking up the hammer to sell many of the 100+ lots on the day.

Gurpreet Bassi said: “We are delighted Phillip has chosen to join us as his familiar face and distinctive style is well known in the national auction marketplace, particularly as we are now seeing so many buyers from London and the south east.”

Bond Wolfe Auctions was launched in early 2019 by chief executive Gurpreet Bassi and managing director Ian Tudor who previously were the heads of residential and commercial auctions respectively at the Bigwood auctions business.

They have been joined by well-known consultant directors Jonathan Hackett and Ron Darlington to complete an initial team of 15 working from offices in Birmingham, West Bromwich and Wolverhampton.

Gurpreet Bassi added: “Reaching 100 plus lots for our first auction under Bond Wolfe Auctions is a remarkable achievement by any measure, it can largely be put down to the quality and experience of our team.

“Our award-winning and record-breaking team has over 250 years’ experience of the property auction sector and our track record together with our established business network is unrivalled.

“That’s why we have been able to create such a successful business from day one.”

Gurpreet and Ian previously formed the backbone of the Bigwood auctions business, and the majority of the new Bond Wolfe Auctions team were formerly responsible for delivering the Midlands largest ever auction in May 2018, which saw 172 lots go under the hammer.

The first auction will start at 10.30am on Wednesday 13 March at Villa Park, Birmingham, and the team has already started taking entries for the second auction of 2019 on Thursday 9 May. Any sellers or businesses looking to offer their properties, development sites or portfolios for sale by auction, should contact enquiries@bondwolfeauctions.com or call 0121 312 1212.

Ends (479 words)

* Each property is subject to a reserve price which may be different from the guide price.

 For further information, please contact:

 Suzanne Randell, Head of Marketing and Communications,

Bond Wolfe Auctions,

1st Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 312 1212

www.bondwolfeauctions.com

@BondWolfeAuc

Written and issued by Andy Skinner at ASAP PR, 01789 490786, mobile 07990 978257

Editors’ notes:

Bond Wolfe Auctions has a record breaking and award-winning team with over 250 years of combined property experience.  They sell all types of residential, commercial and mixed-use property, investments and land/development sites for private individuals and corporate clients. They will hold six auctions in 2019 at Aston Villa FC as well as offering online auctions, selling properties nationally across the UK.