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Threat of interest rate rise fails to deter buyers in Bond Wolfe sale

Bond Wolfe raised more than £16m from 154 lots sold in its latest auction on 20 October.

The total reflects a success rate of 87% and means the auctioneer has raised £146m so far this year, with an average success rate of 93%.

Gurpreet Bassi, chief executive of Bond Wolfe (pictured), said: “Despite the prospect of higher interest rates, the marketing period for this auction remained as busy as ever, and we are already handling new calls and e-mails to enter our next auction in December.”

The build-up to the latest auction saw 616,767 website page views, with 107,837 video tours watched, a total of 31,491 legal documents downloaded and 17,665 logging in to watch the auction live.

Highlights included two lots of freehold commercial ground rent sold on behalf of Birmingham City Council (lots 1 and 2)

The ground rents for land and premises at New Summer Street in Newtown sold for £182,000 from a guide of £150,000-plus, and ground rents for nearby 85 New Summer Street sold for £150,000, equal to the guide price.

A plot of land adjacent to 44 Rood End Road in Oldbury was sold on behalf of Sandwell Council for £110,000 – nearly three times its £38,000-plus guide price (lot 3A).

Two shops on Bearwood Road in Smethwick, West Midlands, were sold prior to auction for well in excess of their guides of £170,000 and £125,000 (lots 11 and 12).

A former guesthouse with nine bedrooms and a swimming pool near Sutton Coldfield was also sold prior to the October sale, raising £740,000 from a guide of £635,000-plus (lot 43).

 

To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews

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