Overseas investors bid in record £24.6m auction
Overseas investors are now targeting Bond Wolfe Auction’s online live-streamed sales it has been revealed.
A Hong Kong-based buyer was the final bidder for a £1m commercial lot in Bond Wolfe Auction’s latest auction last week, an industrial/office investment at Island Works, 122 Holyhead Road, Birmingham.
Let to a long term established tenant, the landmark building between Birmingham and West Bromwich produces annual rental of £75,000.
Sue Randell, chief operating officer of Bond Wolfe Auctions, said: “The reputation of Bond Wolfe Auctions as a source of value investments is clearly spreading beyond the UK.
“From our Midlands base, we now attract lots from across the UK, and our bidders are no longer just regional property buyers. We see a lot from all over the UK, particularly London and the south east.
“But recently, we have been receiving enquiries and seeing bidders from Hong Kong, France, Spain, Holland, China and Singapore, to name just a few.
“Time zone differences don’t seem to matter when there is a good value investment to be had by bidding online, and our overseas buyers have proven very proficient in organising their professional advisers to complete on the tight timescales required by auction conditions.”
A record catalogue at the auction achieved a record sales figure of £24.6m.