Sutton Coldfield apartment block makes £1m at auction
An entire block of 12 apartments in Sutton Coldfield was a star performer at an auction last week.
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.
And the property auctioneer’s fast revenues growth comes after another £21.9m of sales in its latest auction, when 180 lots were sold out of 191 offered – a 95 per cent success rate.
One of the big sales was a block of apartments in a five-storey block off the Birmingham Road, in Wylde Green.
All apartments are occupied and bringing in annual total rents of £90,360 in the block above The Lanes Shopping Centre.
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 boarded up and needing attention it sold for £155,000 from a guide price of just £90,000.
Gurpreet Bassi, chief executive of Bond Wolfe, said: “We had another highly successful auction, 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 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.”
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.
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.”
Bond Wolfe’s next auction is on Wednesday, October 20, and property owners interested in selling can arrange a free auction appraisal by calling 0121 312 1212 or visiting https://www.bondwolfe.com/free-property-appraisal/
