Birmingham City Council make £2m from property sales at auction within an hour

Land & Building at Coventry Road, Solihull, B26 3QR -Credit:Bond Wolfe
Land & Building at Coventry Road, Solihull, B26 3QR -Credit:Bond Wolfe


Cash-strapped Birmingham City Council have made more than £2m from auction property sales today. Eight properties from the 'bankrupt' authority were sold in less than an hour.

The cultural centre and offices, on Dudley Road, in Winson Green, sold for its guide price of £365,000 and the land and Building on Coventry Road, Solihull, went for £176,000 during the auction hosted by Bond Wolfe today, Thursday, May 16. While the land and premises at Hospital Street and Buckingham Street, in Newtown, sold for a whopping £610,000 - almost half-a-million-pounds over its guide price of £125,000 plus.

Land fronting Great Barr Street, in Birmingham, which is suitable for a variety of uses subject to obtaining the necessary planning consents, sold for £402,000. Another hotly contested lot was a commercial investment property on Dudley Road.

READ MORE: 'Bankrupt' Birmingham City Council live auction updates as cash-strapped authority flog more properties

The premises comprises of a retail shop premises with above residential accommodation. Bidders Mr M and Mr S went head-to-head as it sold for £372,000 - massively over its guide price of £200,000. Auctioneer Graham Carter said: "I like this - this is a good race. Thank you gentlemen for a superb race." In total the council netted £2.2m in sales between 8.30am and 9.30am today.

Land & Premises at 86 Hospital Street & Buckingham Street, Birmingham, B19 3HT -Credit:Bond Wolfe
Land & Premises at 86 Hospital Street & Buckingham Street, Birmingham, B19 3HT -Credit:Bond Wolfe

Although its freehold interest secured on industrial land and premises at Dollman Street, in Saltley, failed to sell. The council property reached an offer of £280,000 from a bidder - but that was £10,000 below its £290,000 plus guide price, so went unsold. Two other council properties in Balsall Heath were withdrawn prior to the auction starting.

There were 160 lots up for grabs at auction, which included scores of private homes, from across the West Midlands. There were online, telephone and proxy bidders at auction, but none present in person. It was hosted by Bond Wolfe auctioneer Graham Carter who alternated the role with James Mattin after every 25-30 lots.

Land Fronting Great Barr Street, Birmingham, B9 4AY -Credit:Bond Wolfe
Land Fronting Great Barr Street, Birmingham, B9 4AY -Credit:Bond Wolfe

Council's lots which sold/went unsold/and those withdrawn:

Lot 1 - Land & Building at Coventry Road, Solihull, B26 3QR - Sold £176,000

Lot 2 - 92 Cato Street, Nechells, Birmingham, B7 4TS - Sold £78,000

Lot 3 - 94 Cato Street, Nechells, Birmingham, B7 4TS - Sold £78,000

Lot 4 - 91 Court Road, Balsall Heath, Birmingham, B12 9LQ - Withdrawn prior

Lot 5 - 27 Cromer Road, Balsall Heath, Birmingham, B12 9QT - Withdrawn prior

Lot 6 - 1177 Coventry Road/Redhill Road, Hay Mills, Birmingham, B25 8DF - Sold £210,000

Lot 7 - 155 Dollman Street, Saltley, Birmingham, B7 4RS - Unsold £280,000

Lot 8 - 235 Dudley Road, Birmingham, B18 4EJ - Sold £365,000

Lot 9 - 241-243 Dudley Road, Birmingham, B18 4EJ - Sold £372,000

Lot 10 - Land Fronting Great Barr Street, Birmingham, B9 4AY - Sold £402,000

Lot 11 - Land & Premises at 86 Hospital Street & Buckingham Street, Birmingham, B19 3HT - Sold £610,000

Total sales: £2.291m

1177 Coventry Road/Redhill Road, Hay Mills, Birmingham, B25 8DF -Credit:Bond Wolfe
1177 Coventry Road/Redhill Road, Hay Mills, Birmingham, B25 8DF -Credit:Bond Wolfe

Stay up to date with the very latest from your Birmingham or West Midlands street or neighbourhood with our Birmingham News Email Updates sent straight to your inbox