More than £30 million raised as Bond Wolfe Auctions sets a new UK auctions record
A new record has been set for the UK’s most successful livestreamed auction after over £30.2 million in sales was raised by Bond Wolfe Auctions on 31 March.
The auction was also the largest ever held outside of London, with a total of 205 lots sold from 218 offered, representing a success rate of 95%.
There was unprecedented interest in the auction with 814,817 website page views, 161,168 video tours watched and 34,336 tuning in to watch the auction live on the day.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “We knew that our auction had attracted strong interest, but as we watched each sale on the day the statistics just got better and better.
“This record-breaking result underlines the huge and growing appeal of our livestreamed auctions and shows how the demand for well-priced property is still increasing.”
Mr Bassi described how the auction got off to “a cracking start” when the former Sedgley Police Station in the Black Country, parts of which dated back to the 18th century, sold for an impressive £820,000 from a guide price* of £260,000+.
Meanwhile, a three-bedroomed, semi-detached house at 136 Stroud Road in Shirley, Solihull that needed modernisation drew multiple bids before the hammer came down at £192,000 – well over twice the guide price of £85,000+.
Even more impressive was the £213,000 sale price achieved for a two-bedroomed, mid-terraced house on Poplar Avenue in Kings Heath, Birmingham, well over four times the £50,000+ guide price.
Bidders also competed for a three-bedroomed, end-terraced house at 38 Gracemere Crescent in Hall Green, Birmingham, which sold for £142,000 from a guide price of £85,000, and a similar property nearby at 31 Barbara Road which sold for £139,000 from a guide price of £85,000+.
Strong interest from buyers ahead of the day also brought impressive results, with The Button Factory, based at Maypole Works on Maypole Lane, near Kings Heath, sold prior to auction to a London developer for £565,000 from a guide price of £135,00
Lots of land also proved popular, with 0.7-acres on the south-east side of Dudley Port in Tipton selling prior to auction for £455,000 from a guide price of £375,000+.
And a row of nine Grade II-listed Georgian town houses at 30 to 46 Hamstead Road in Hockley, once owned by the son of Prime Minister Sir Robert Peel, were sold prior to auction for a combined price of £2.95 million, from a total guide price of £2.635 million.
Mr Bassi said: “The sheer range of properties we had for sale from all over the UK as well in as our Midlands heartland was what attracted so many keen bidders from across the country and abroad.
“Our auction dates are now firmly in the diaries of all serious property investors who know that there is always a great choice available.”
The next Bond Wolfe Auction’s date is Wednesday 19 May and property owners interested in selling can arrange a free auction appraisal by calling 0121 312 1212 or visiting https://www.bondwolfeauctions.com/free-property-appraisal/.
Mr Bassi added: “We have dedicated experts who specialise in selling residential, commercial and mixed-use properties, as well as land and development sites, and they will be happy to offer their free, no obligation advice on what price you could achieve for your property.”
Ends (548 words)
* 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.
For further information, please contact:
Suzanne Randell, Chief Operating Officer,
Bond Wolfe Auctions, 1st Floor, 75/77 Colmore Row, Birmingham B3 2AP
0121 312 1212
Twitter – @BondWolfeAuc
Bond Wolfe Auctions has a record breaking and award-winning team with over 300 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 at least seven auctions in 2021, as well as offering online auctions selling properties nationally across the UK.