Wolverhampton city centre block of flats sells for over £2m ahead of auction

The block of 30 flats at St George's Parade were expected to fetch in excess of £1.8 million after attracting strong interest ahead of a property auction held yesterday, but sold before the auction started for £2,100,000, according to property agents Bond Wolfe.

The building's communal grounds were also included in the auction lot, including a courtyard, bin area and store. 

Also sold in the city were a pair of two bedroom terraced properties at 78-80 Byrne Road, Wolverhampton, offered on behalf of Wolverhampton Council, which fetched £265,000 from a guide price of £136,500. 

Land at Tasker Street, West Bromwich, offered on behalf of Sandwell Metropolitan Borough Council, saw the hammer fall at £128,000 from a guide price of £50,000, while sales of land and property for Birmingham City Council raised over £1.2m for the cash-strapped local authority.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “This was a great result to round off another outstanding year for Bond Wolfe’s auctions. We are very pleased to achieve solid results for our auction clients once again and demand for solid assets, such as bricks and mortar and land, remains strong.

“These results see us well set to continue our growth and reach in 2025 and we look forward to growing our client base as more sellers and institutions and local authorities increasingly appreciate the opportunity Bond Wolfe’s regular auctions provide to achieve significant results in a relatively short timescale.”