Bond Wolfe is to return to the auction room for the first time in two and a half years when it holds its next sale on 21 July.
The auction will be held in the Birmingham-based company’s previous regular venue, The Holte Suite at Aston Villa FC, and will be both live in the room and live-streamed.
The auctions sector has shown no sign of a mass return to the room following its move online because of the pandemic. London-based Barnard Marcus is the only other large firm to return to the room.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “The Covid-19 pandemic hit all sectors of the UK economy like a ton of bricks in March 2020, but we were well placed to move the business wholly online with minimal disruption after our first live-streamed auction.
“However, we feel that many of our clients have missed the atmosphere of the auction room and the opportunity for networking and inter-trading that is a natural result of like-minded entrepreneurs interacting at a physical event.
“During the pandemic, our live-streamed auctions proved to be a magnet for a UK-wide and fast-growing audience of overseas investors, but we think that now is the right time to get ‘back in the room’.”
Bond Wolfe’s May auction raised more than £26m in sales, with 142 lots sold from 154 offered, giving a success rate of 93%. On the day, 17,215 viewers logged in to watch the auction live.
Bassi said: “There is evidence from our results that demand is still outstripping supply and we had buyers logging in from across the UK and abroad.”
Highlights of the day included:
Seven lots offered on behalf of Birmingham City Council, six of which sold, raising £1,865,000 in total from the sale of commercial ground rents.
A former local history centre in Essex Street, Bloxwich, with a guide price of £290,000, which sold for £610,000.
A five-bedroom detached house at 40 Mackenzie Road, Moseley, which sold for £632,000 from a guide of more than £450,000.
A former health clinic at 171 Melbourne Avenue, Birmingham, which sold prior to the sale at £700,000 from a guide of more than £595,000.
A three-bedroom end-of-terrace house on Farm Close, Solihull, which sold for £287,000 from a guide of £199,000-plus.
A 6,755 sq ft freehold warehouse unit at Kelvin Way, West Bromwich, which sold prior for £550,000 from a guide of £385,000-plus.
A freehold commercial investment property at 33 Alcester Road, Kings Heath, Birmingham, let to Game Nation on a new 15-year lease at an annual rent of £25,000 plus VAT, which sold for £375,000 from a guide of £295,000.
Two three-bedroom, semi-detached houses on Frogmore Avenue, Hayes, Middlesex, which sold for £480,000 and £481,000 on guides of £295,000-plus and £285,000-plus.
A two-bedroom terraced house on William Cook Road, Ward End, in need of improvement, which sold for £151,000 from a guide price of £60,000-plus.
Bond Wolfe is to return to the auction room for the first time in two and a half years when it holds its next sale on 21 July.
The auction will be held in the Birmingham-based company’s previous regular venue, The Holte Suite at Aston Villa FC, and will be both live in the room and live-streamed.
The auctions sector has shown no sign of a mass return to the room following its move online because of the pandemic. London-based Barnard Marcus is the only other large firm to return to the room.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “The Covid-19 pandemic hit all sectors of the UK economy like a ton of bricks in March 2020, but we were well placed to move the business wholly online with minimal disruption after our first live-streamed auction.
“However, we feel that many of our clients have missed the atmosphere of the auction room and the opportunity for networking and inter-trading that is a natural result of like-minded entrepreneurs interacting at a physical event.
“During the pandemic, our live-streamed auctions proved to be a magnet for a UK-wide and fast-growing audience of overseas investors, but we think that now is the right time to get ‘back in the room’.”
Bond Wolfe’s May auction raised more than £26m in sales, with 142 lots sold from 154 offered, giving a success rate of 93%. On the day, 17,215 viewers logged in to watch the auction live.
Bassi said: “There is evidence from our results that demand is still outstripping supply and we had buyers logging in from across the UK and abroad.”
Highlights of the day included:
Seven lots offered on behalf of Birmingham City Council, six of which sold, raising £1,865,000 in total from the sale of commercial ground rents.
A former local history centre in Essex Street, Bloxwich, with a guide price of £290,000, which sold for £610,000.
A five-bedroom detached house at 40 Mackenzie Road, Moseley, which sold for £632,000 from a guide of more than £450,000.
A former health clinic at 171 Melbourne Avenue, Birmingham, which sold prior to the sale at £700,000 from a guide of more than £595,000.
A three-bedroom end-of-terrace house on Farm Close, Solihull, which sold for £287,000 from a guide of £199,000-plus.
A 6,755 sq ft freehold warehouse unit at Kelvin Way, West Bromwich, which sold prior for £550,000 from a guide of £385,000-plus.
A freehold commercial investment property at 33 Alcester Road, Kings Heath, Birmingham, let to Game Nation on a new 15-year lease at an annual rent of £25,000 plus VAT, which sold for £375,000 from a guide of £295,000.
Two three-bedroom, semi-detached houses on Frogmore Avenue, Hayes, Middlesex, which sold for £480,000 and £481,000 on guides of £295,000-plus and £285,000-plus.
A two-bedroom terraced house on William Cook Road, Ward End, in need of improvement, which sold for £151,000 from a guide price of £60,000-plus.
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Photo: Bond Wolfe
