Demand for regional property was strong at Birmingham-based Bond Wolfe’s latest sale, which saw 200 out of 212 lots snapped up.
The 94% success rate produced a total of £20m at the 27 February sale.
The firm was established in January 2019 by Gurpreet Bassi and Ian Tudor. The pair said that the sale surpassed their previous record of £16.9m from 127 lots sold out of 148 offered, set back in May 2018, when they were heads of residential and commercial auctions at the Bigwood auctions business.
“It is clear from talking to our regular clients that Brexit and the resultant political uncertainty leading to a General Election had acted as a brake on buyer and seller confidence,” Bassi said. “The brakes are certainly now off.”
He added: “It was the busiest saleroom we have ever had, with queues circling the car park even before our earlier start of 10am. We had a record number of remote bidders by telephone, online and proxy – more than 850 – and we undertook a record number of viewings – well over 6,200 – in the lead-up to the auction.”
Lots included 12 Hamilton Avenue, a three-bedroom detached house in Harborne, Birmingham (pictured), which was offered with a guide price of £695,000+ and sold for £860,000. Carters Green Medical Centre, which had a guide price of £250,000+, sold for £410,000 before the auction.
Other highlights included the well-known former Refinery night club in Burton-on-Trent, with a guide price of £135,000, which ultimately sold for £190,000.
A 10-bedroom Grade II listed house in multiple occupation at 5 and 6 Windsor Terrace in Edgbaston, Birmingham, achieved £750,000 from a guide price of £695,000.
Additional residential sales included a three-bedroom detached house in Stourbridge, which sold for £192,000 from a guide price of £125,000, and a three-bedroom semi-detached house at Smethwick, which sold for £171,000 off a guide price of £75,000.
Bond Wolfe’s next sale will take place on 6 May at Aston Villa Football Club.
