More than £1.5 million raised for Birmingham City Council in 30 minutes in latest property auction sell off of assets
Another £1.5 million has been raised for cash-strapped Birmingham City Council which has been selling off properties at auction.
Three lots were offered in today's Bond Wolfe livestreamed auction, and the star property of the day was a detached former therapy/healing centre at 1 High Street, Kings Heath, Birmingham, which sold for £920,000 from a guide price of £300,000+.
The Base, a long leasehold community centre on the corner of Ward End Park Road and Foxton Road, Washwood Heath, also proved popular, selling for £188,000 from a guide price of £75,000+.
Freehold land measuring about 51,000 sq ft at Umberslade Road, Selly Oak, was also the subject of fierce bidding, with the hammer finally falling at £405,000 from a guide price of £300,000+.
The three lots raised a total of £1,513,000 at the auction, which started at 8.30am on Thursday September 11.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “There is clearly tremendous demand for these strategic sites that Birmingham City Council are releasing on to the market.
“Once again, we had huge interest in all three lots prior to auction day and we are delighted to have achieved such strong results.
“This bodes well for our remaining two auctions this year, with the next one starting at 8.30am on Thursday October 23."
The auction will be livestreamed via Bond Wolfe’s website, with remote bidding by proxy, telephone or internet.
