Sweet prices for sites

Bond Wolfe held the auction at Aston Villa football ground and a number of key plots in the Sandwell area came under the hammer.

The biggest surprise sale at the event was that of Sela House, which had a guide price of between £225,000 and £250,000, but went for £330,000.

Sela Confectionery, known for its world-famous Sela cough sweets, have been in Thynne Street, West Bromwich, since 1922 but the business has now moved to Newport in South Wales, as part of the firm's expansion plans.

Ron Darlington, a partner at Bond Wolfe, said: "A lot of businesses are being attracted to Wales because of the financial benefits offered by the Government.

"It is a shame that West Bromwich has to lose this business which has been in the town since the year dot."

The former Langley Maltings brewery site, in Oldbury, was sold for £1 million to D&S Enterprises Ltd, owned by Lehmber Singh and Harbhajan Singh Dhadday from West Bromwich.

The brewery was the toast of the town since 1820 and produced beer for Wolverhampton and Dudley Breweries until as recently as a few months ago.

But the huge site, which still has its gigantic stores, could now been used for flats although it could take around £5 million of investment to bring up to scratch.

Mr Singh, 46, said: "I came to the auction because I was very interested in this site as we are creating 34 apartments in Rowley Regis at the moment.

"We are hoping to turn the brewery site into flats but at the moment there are a number of possibilities and we will be talking to Sandwell Council's planning department."

A vacant site off Wolverhampton Road, Oldbury, earmarked for a hotel development was sold for £1.45 million. The derelict former Otis car hire site has stood empty for several years.

The Old Post Office in High Street, West Bromwich, which has been turned into offices, did not sell as it failed to make the guide price of £1.1million, reaching only £970,000.

By Cathy Spencer