£5m in sales for October auction

Sutton Kersh’s October auction saw more than £5m in property sales, with fierce bidding throughout the day.

Sutton Kersh’s October auction saw more than £5m in property sales, with fierce bidding throughout the day.

One of the biggest auctions of the year, there were several hundred people in attendance, with some properties selling for more than 40% above the guide price.

Cathy Holt, head of auctions at Sutton Kersh said: “Each auction this year has seen high levels of sales, which really points to a growing confidence both in the commercial and residential property market in Liverpool. We are still taking enquiries for lots which didn’t sell during the auction and the figure of £5m in property sales looks set to rise in the next few days.”

The October auction also saw a record £1.8m in sales prior to the auction, with 10 lots sold beforehand.

Lots sold during the day included lot 205, Woolton library, one of John Lennon’s childhood haunts.  The vacant sandstone building, set in the heart of the Woolton Village conservation area, offers huge potential from redevelopment in its current class D1 use, to possibly converting the building to become a residential property, subject to the necessary planning consents.  The property had a guide price of £150,000 and sold for £205,500.

Other stand out lots which sold well above the guide price included lot 1, a four bedroom semi in Wallasey with a guide price of £85,000, which sold for £138,000, 38% above the guide price and lot 87, a freehold grade II listed building with planning permission for six self-contained flats, on Vernon street in Liverpool, which sold for £406,500, 26% above the guide price of £300,000.

There were a number of commercial lots available in auction including lot 42, a 500 sqft office space at Liverpool Business Centre, which sold for £47,000 and offers a let out income of £6000 per annum.  There was also lot 74, a mixed use residential and commercial building in Prenton, which sold for £220,000 and offers an income in excess of £30,000 per annum.   The auction also saw a number of plots of land for sale, including lot 91, on Grinfield Street in Liverpool, with planning permission for ten two bedroom flats, providing a potential annual income in excess of £72,000, which sold for £217,000.

Sutton Kersh is now inviting entries for the next auction, which takes place on the 10th December.  The closing date for entries is the 13th November and they recommend instructing early to take maximum advantage of the marketing campaign which runs before each auction. For more information visit www.suttonkersh.co.uk auctions or call 0151 207 6315.