Bond Wolfe’s latest live stream sale has raised more than £20m.
Investors snapped up 123 lots sold from 145 offered – a success rate of 85%. Only 11 lots were withdrawn prior.
It follows the £26m total raised in July with an 83% success rate, when the firm went back to the room for the first time since the pandemic with a hybrid in-room/live stream auction.
The 15 September sale saw a total of 15,121 viewers log in, with 1,000-plus registered bidders. The run-up to the auction saw 508,483 website page views, 120,106 video tours watched, and 29,008 legal documents downloaded.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “While the wider economy is having its wobbles, our healthy results show that there is still a keen interest in the property market from bidders across the UK and abroad.”
Highlights of the auction included the moment the hammer came down at nearly seven times the guide price for a three-bedroom, semi-detached property at 209 Warstones Road in Penn, Wolverhampton. The property had a £25,000+ guide price to reflect its need for modernisation, but the potential for development at the side and rear, subject to planning permission, resulted in competitive bidding that resulted in an outstanding sale price of £174,000.
Other properties that sold well included a two-bedroom, mid-terrace house at 10 Lloyd Street in Wolverhampton, with a guide price of £65,000+, which sold for more than twice that at £136,000.
In Birmingham a four-bedroom, semi-detached house at 16 Meadow Brook Road, Northfield, with a guide price of £250,000+ was sold for £280,000.
A fully let retail investment property at 6-8 Church Street in Bromsgrove, currently bringing in £23,500 in rent each year, was sold for £286,000 from a guide price of £225,000+.
In Stafford, a rare pair of neighbouring two-bedroom, semi-detached houses at 52 and 54 Carisbrooke Drive – which both had guide prices of £82,000+ – were sold for £122,000 each.
Close to Solihull, a final successful bid of £196,000 pushed a three-bedroom, end-terrace house at 43 Gracemere Crescent in Hall Green to more than double its guide price of £85,000+.
A freehold mixed-use investment property containing a shop, gym, two self-contained flats and telecommunications masts which is bringing in annual rents of £49,400 at 170-174 Halesowen Street in Rowley Regis, Sandwell, was sold prior to auction for £550,000 – well above the £495,000+ guide price.
Bond Wolfe’s next auction will take place on 27 October.
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