Bond Wolfe Auctions’ latest sale proved to be its largest to date, raising £30.2m.
A total of 205 lots were sold from 218 offered, a success rate of 95%. Only seven lots were withdrawn prior, according to Essential Information Group figures.
The total was up from £24.6m raised in February, the Midlands auctioneer’s previous high.
Successes included the former Sedgley Police Station (pictured) in Dudley (lot 1), parts of which date back to the 18th century. It sold for £820,000 from a guide of £260,000-plus.
A two-bedroom, mid-terrace house in Kings Heath, Birmingham (lot 9), sold for £213,000 – more than four times the £50,000-plus guide.
Bidders also competed for a three-bedroom, end-of-terrace house in Hall Green, Birmingham (lot 161), which sold for £142,000 from a guide of £85,000, and a similar property nearby (lot 162) sold for £139,000 from a guide of £85,000-plus. Both are let on protected regulated tenancies with the sale prices reflecting sub-4% yields.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said the 31 March sale illustrated that demand for well-priced property was still increasing. “We knew that our auction had attracted strong interest, but as we watched each sale on the day the statistics just got better and better,” he said.
Sales prior to the live-streamed auction included the Button Factory, near Kings Heath (lot 24), which sold to a London developer for £565,000 from a guide of £135,000-plus.
Land proved popular, with 0.7 acres on the south-east side of Dudley Port in Tipton (lot 98) selling prior for £455,000 from a guide of £375,000-plus.
And a row of nine Grade II listed Georgian town houses at 30 to 46 Hamstead Road in Hockley (lots 50-58), once owned by the son of prime minister Sir Robert Peel, sold prior for a combined £2.95m, from a total guide price of £2.6m.
To send feedback, e-mail julia.cahill@egi.co.uk or tweet @EGJuliaC or @estatesgazette
