New auctions business raises £16.7m at first event
Bond Wolfe Auctions, brought the hammer down on its first auction in Birmingham after raising £16.7m.
The business was launched in January, reuniting a number of senior people who had worked together at CP Bigwood then SDL Bigwood, following the 2016 merger.
It sold 103 of the 115 lots on offer at the auction, which was held at Aston Villa.
Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “When we launched Bond Wolfe Auctions in January with a highly experienced team that has worked together for a long time, we hoped we would hit the ground running.
“But this result has exceeded all our expectations.”
Highlights included the sale of the former Selly Oak Water Tower, which sold for £238,000 off a guide price of £100,000-plus, and several residential properties from across the West Midlands which over-achieved the guide price by more than 70%.
A number of commercial properties also attracted substantial interest with a number selling pre-auction, including a large mixed use city centre investment in King William Street, Coventry, which was sold “well in excess” of the guide price of £595,000.
Ian Tudor, managing director said: “These were just some of the highlights in what was a phenomenal auction by any standards, regardless of the fact it was our first auction.”
