More than £23m raised at property auction
A former petrol station site in the Black Country went for four times its guide price in an online auction.
There was a success rate of 85 per cent achieved at Bond Wolfe’s latest auction, which raised a total of more than £23 million, on Thursday.
The auction saw 142 lots sold out of 168 offered
The petrol station, car wash and small retail unit in Corngreaves Road, Cradley Heath, which extended to an area of around a fifth of an acre saw the hammer come down at £400,000.
Competitive bidding for The Hollies at 10 Lichfield Road in Walsall, a former children’s home recently used as offices and sold on behalf of Walsall Council, saw it sold for £508,000 – more than £200,000 above its initial guide price of £295,000.
Gurpreet Bassi, chief executive of Bond Wolfe, said there was a gripping atmosphere at the auction, with multiple bids flying in both online and by telephone.
“The success rate of 85 per cent is well above the industry average and once again shows how there continues to be a healthy marketplace for properties, with plenty of buyers resulting in excellent prices for sellers.”
An acre of land at Chester Road South in Kidderminster, with planning permission to build 15 new homes, sold for £1.25m from a guide price of £1m to £1.25m.
Bond Wolfe’s next auction will start at 9am on Thursday, May 18 and will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
