Former Methodist church in the Black Country sells for £670,000

Moorlands Methodist Church on Hydes Road, West Bromwich, went for nearly four times its £175,000 guide price in the latest online property auction run by Bond Wolfe.

There were total sales of more than £23 million in the auction on Wednesday, March 30.

It was more than £5 million up on the previous auction in February and saw 168 lots sold out of 181 offered.

The livestreamed event had 662,914 page views, 151,712 virtual tours of lots, 36,025 legal documents downloaded and 25,549 viewers logging in to watch the auction live.

Bond Wolfe chief executive Gurpreet Bassi said: “While global uncertainty surrounding huge issues like the Ukraine war, oil prices and interest rates continue to rock the economy, it is reassuring to see that property is still seen as a safe investment.

“We got off to a good year in our February sale with revenues of £17.7 million but were delighted to have seen a substantial growth to more than £23 million in our second sale of the year.

“The popularity of Bond Wolfe auctions speaks for itself both in terms of the sales made and the incredible audience statistics that have emerged.”

Properties in the Black Country saw competitive bidding with a good example being the £136,000 raised for a three-bedroomed, mid-terraced house at 95 Coles Lane in West Bromwich, which had a guide price of £75,000.

A quartet of neighbouring houses converted into flats at 117, 119, 121 and 123 Tettenhall Road in Wolverhampton, all sold prior to auction for between £250,000 and £275,000.

Commercial properties saw healthy sale prices too, with a two-storey former vets surgery at 456 to 458 Hagley Road West in Oldbury selling before the auction for £485,000 – over £200,000 more than its guide price of £275,000.

Mr Bassi added: “These impressive results once again show that there is a resilient interest in properties across the UK and that it is an ideal time to sell quickly by auction.”

Bond Wolfe’s next auction starts at 9am on Thursday, May 19.