Competition for commercial lots drives strong July auction activity

Some 97% of lots were sold at the Bond Wolfe livestreamed auction in July, with 222 out of 231 being sold.

Commercial ground rents were sold on behalf of Birmingham City Council.

Lord Street
Hockley Hill

These included 86 Lord Street in Duddeston which sold for £110,000, 160 Hockley Hill in Lozells for £190,000, 70 Summer Lane in Newtown for £200,000, 110 Bissell Street near Highgate for £170,000, and 10 and 10a Eyre Street near Ladywood for £175,000.

Ian Tudor, joint managing director, auctions, said: “The appetite for commercial property at Bond Wolfe’s livestreamed auctions continues to grow with interest not just from our traditional Midlands heartland, but from across the UK and foreign bidders too.”

The former Lickhill Manor

The former Lickhill Manor, a Grade II listed Georgian country house near Stourport-on-Severn, received a number of offers, having attracted strong interest in the run up to the auction.

The property sold for well in excess of the £500,000 guide price, with the buyer considering residential conversion and use of the property

Church Road

Similarly 76 Church Road Aston, a fully refurbished office premises, sold before the auction for well over the guide price of £675,000+ to a church and community group.

A new dental clinic is the likely future for Charter House at 297 Alcester Road South, which after tremendous interest before the auction sold for over the £290,000 guide price.

Buffery Road

A mixed commercial and residential lot at 4 Buffery Road, Dudley, with a current gross rental income of £25,200 per annum, and a guide price of £165,000+, also sold before the auction.

In Walsall, a shop premises with three residential flats above at 77a Caldmore Road, sold for a £199,000 from a guide price of £190,000+.

Another mixed use investment property at 804 Alcester Road South in Birmingham achieved £203,000 from a guide price of £137,000+.

Offered with a guide price of £300,000, a freehold mixed commercial and investment property at 90-91 High Street, Cradley Heath, with a gross annual rental income of £43,800, sold before the auction for an undisclosed sum.

And when the hammer fell on 70a Stafford Street, Walsall, a vacant freehold three storey retail property, sold for the guide price of £70,000.

Bond Wolfe’s next auction is on Thursday 9 September.

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