Sutton Kersh continued its impressive run of auction results selling 90% of the 119 properties offered at its June auction.
The leading Merseyside property auction house sold 107 properties and generated total proceeds of £6,656,300 at the sale which took place at the Liverpool Hilton Hotel on Thursday 6th June.
Auctioneer Andrew Binstock spent an epic 4 hours and 40 minutes on the rostrum conducting the auction without pause to an audience of over 200 people.
High pre auction activity resulted in 25 lots being sold prior. A further 70 lots then sold in the room and the remainder of the deals have completed afterwards. Many of the lots offered realised more than expected including two vacant residential properties which sold for more than double their guide prices; Lot 80 and Lot 108.
Lot 80, a Grade II listed building comprising 5 self contained apartments and one studio apartment located 22 Lilley Road in Fairfield, was guided at £100,000+ and sold in the room for £212,000. Lot 108 was a 5-bedroom 3-storey building located at 21 Greenbank Road in Mossley Hill which was guided at £90,000+ and sold in the room for £193,000.
Also included in the catalogue was a substantial vacant commercial building located at 9-11 Fleet Street in the heart of Liverpool City Centre. The premises, which have a total floor area of approximately 4,162.2 sq ft (386.7 sq m) were guided at £200,000-£225,000 and sold prior to the auction for an undisclosed amount.
Sutton Kersh's auction sales average for the year so far is 85% following the sale of 293 properties. Its total auction proceeds for the year so far amount to £18,862,100 with four more auctions still to come this year.
James Kersh, director at Sutton Kersh commented following the auction:
“Liverpool continues to prove that it is a fantastic place to invest. The years of investment have further established the City and have helped to fuel intrigue and demand amongst investors.
I haven't experienced an auction like this since before the recession; there appeared to be plenty of liquidity in the market. It strengthens my belief that now is a good time to buy as prices will continue to trickle upwards if confidence and demand continue at this level.
I think the last few years have made people re-evaluate what to do with their savings and property investment appears to be an attractive move, particularly whilst there are still so many affordable deals available.”
Sutton Kersh's next auction will take place on the 18th July.