Birmingham-based Bond Wolfe Auctioneers said it expected a sharp increase in volumes this year as landowners look to real estate sales to fund expansion plans.
The auction house reported that in its first year of trading it had raised more than £81.4m, selling 654 lots out of 751 lots offered in six auctions and achieving an average success rate of 87%.
Bond Wolfe was launched in January 2019 by chief executive Gurpreet Bassi and managing director Ian Tudor, formerly the heads of residential and commercial auctions at Bigwood.
“With more political stability following the General Election result, I think we will see the floodgates open as many businesses and landowners seek to maximise asset values in order to fund expansion plans,” said Tudor. “The auction route provides both certainty and helps with cashflow planning, an essential ingredient of any growing business.”
Bond Wolfe reported that it had sold 151 of the 159 lots offered at its 11 December sale, achieving a success rate of 95% – the highest sales rate for a Midlands auction for 15 years.
The company’s next auction will take place at Villa Park in Birmingham on 27 February.
