Astle House finally sells at auction

An historic Black Country building has finally been sold – on the same day it failed to attract a buyer at auction for the fourth time.

Bond Wolfe managing partner James Mattin said West Bromwich-based Astle House is now sold.

A buyer finally came forward yesterday offering an undisclosed amount.

But just hours earlier, the building had performed poorly at auction, falling well short of its reserve price.

Bond Wolfe had already slashed the price of Astle House before it went under the hammer at Villa Park, after three previous auctions failed to find a buyer.

It was given a guide price of £350,000, almost £200,000 less than the original asking price of £525,000, but even this was not enough to tempt investors.

Bidders eventually started raising their hands when the price dropped to £200,000 but the offers dried up when the price reached £260,000.