Property auction raises more than £26m

Commercial property group Bond Wolfe’s first in-room auction in two-and-a half years raised more than £26 million in sales.

The auction in progress at Villa Park
The auction in progress at Villa Park

The sale in the Holte Suite at Aston Villa's Villa Park ground attracted more than 1,000 registered bidders online, in-room, telephone and proxy.

Bidders includes some from the United States, South Africa and across Europe.

In total 156 lots sold on the day out of 189 with the lead up to the auction seeing 659,823 website page views, 152,978 video tours watched, and 39,218 legal documents downloaded.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “The results provide evidence that demand for property continues to outstrip supply and it is still a great time to sell your property.

“We were pleased that our national reach continues to expand, with visitors and viewers from all over the UK, and also growing numbers from abroad.”

The first lot to go under the hammer, on behalf of Wolverhampton Council was 46 Mount Pleasant, Bilston, which sold for £130,000 from a guide price of £36,500. Also 1 Clarendon Street, Wolverhampton, which was offered with a guide price of £90,000 sold for £145,000.

A workshop-warehouse at 131 Middlemore Industrial Estate, Smethwick, sold for £176,000 from a guide price of £120,000,

£374,000 was paid off a guide price of £225,000 for four-bedroom Gallows End Cottage, in Rodbaston, near Penkridge.

Bond Wolfe’s next auction is on Thursday, September 15.

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