Latest £130m running total means Bond Wolfe’s property auctions already beating last year

Bond Wolfe’s property auction sales have reached nearly £130m so far in 2021, already more than 2020’s total but with two more auctions still to come this year.

 

The UK’s leading regional property auctioneer’s fast revenues growth comes after another £21.9m of sales in its latest auction yesterday, when 180 lots were sold out of 191 offered – a 95% success rate.

 

And despite the end of the stamp duty holiday, interest in the auction remained high, with 478,660 website page views, 137,003 video tours watched and 36,191 legal documents downloaded.

 

Gurpreet Bassi, chief executive of Bond Wolfe, said: “We had another highly successful auction yesterday, with competitive bidding meaning that many properties achieved exceptional sale prices.

 

“This builds on our continuing expansion throughout 2021, which is fully reflected by the fact that our total sales in the year to date are £129.9m – more than we sold in whole of 2020.

 

“When you consider that we still have two more property auctions to go this year, the overall annual growth is set to be substantial, and shows how the property marketplace is continuing to recover post-lockdown.”

 

One of the star performers in yesterday’s auction was an entire block of 12 apartments in a five-storey block off the Birmingham Road, in the sought-after suburb of Wylde Green, Sutton Coldfield.

 

All apartments are occupied and bringing in annual total rents of £90,360 in the block above The Lanes Shopping Centre, and the hammer finally came down at £1,045,000 from a guide price* of £950,000.

 

Also in Sutton Coldfield was a three-bedroomed, mid-terraced property at 135 Wyatt Road, and although this is boarded up and needing attention it sold for £155,000 from a guide price of just £90,000+.

 

Down in the city at 342 Summer Lane, Newtown, a ground rent on a two-storey freehold commercial unit bringing in at least £2,900 a year until 2071 was sold on behalf of Birmingham City Council for £234,000 from a guide price of £150,000+.

 

Over in the Black Country, a three-bedroomed, detached house at 74 King George Crescent, Walsall, was sold on behalf of Walsall Metropolitan Borough Council for £150,000 from a guide price of £138,000+.

 

Back in Birmingham, a freehold self-contained commercial building in at 3B Drayton Road, Kings Heath that’s currently used as a yoga studio was sold for £292,000 from a guide price of £250,000+.

 

The auction also achieved decent prices for properties in receivership, with a three-bedroomed, semi-detached house at 76 Queensway in Leamington Spa, Warwickshire selling for £251,000 from a guide price of £195,000+.

 

Meanwhile, a three-bedroomed, mid-terraced house in receivership at 20 Collingwood Road in Coventry sold for £137,500 from a guide price of £125,000+.

 

Numerous lots from across the UK also performed well in the auction, with a three-bedroomed, semi-detached house down in West London of particular interest to bidders.

 

This property at 235 Kingshill Avenue in Hayes, Middlesex sold for £470,000 from a guide price of £350,000+.

 

Mr Bassi added: “The properties in our auctions are increasingly coming from across the country, with sellers continuing to be more than satisfied at the prices we are achieving for them.

 

“Bond Wolfe has become a name on the lips of anyone regularly buying or selling in UK property auctions, and we are looking forward to more great lots and bidding in our next auction in October.”