Property auction raises £2.5 million for cash-strapped Birmingham City Council
Property sales at auction have raised a further £2.5 million for Birmingham City Council today (Thursday July 10).
The cash-strapped council has been selling off surplus properties through Bond Wolfe's livestreamed auctions with the latest held today.
The star lot of the sale was a 38,825 sq ft parcel of vacant freehold land in Villa Street, Lozells, which saw the hammer fall at £1.1 million – over double its guide price of £445,000+.
A three bedroom detached property at 126 Yarnfield Road, Tyseley, sold for £232,000, having had a guide price of £100,000+.
In Harborne, a three bedroom, semi-detached house in Tennal Drive with a guide price of £145,000+, sold for £226,000.
Another plot of freehold land measuring 7,933 sq ft at 245-253 Spring Road, Tyseley, sold for £440,000, having had a guide price of £100,000+.
In Saltley, a freehold site of 18,675 sq ft adjacent to 79 Belchers Lane, realised £220,000 from a guide price of £100,000+.
In Weoley Castle Road, two freehold commercial ground rent lots both sold off a guide price of £25,000+, with 92 Weoley Castle Road achieving £80,000 and 94 Weoley Castle Road selling for £162,000.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “We are pleased once more to have achieved such excellent results, and we will be offering a further selection of properties in our next auction on Thursday September 11.”
Bond Wolfe, based in Colmore Row, Birmingham, will hold a further three livestreamed auctions in 2025 on September 11, October 23 and December 10.
Auctions are livestreamed on Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
