Auction generates over £4.7 million

Sutton Kersh generated proceeds of over £4.7 million at its latest Merseyside property auction, at which 70% of the lots offered sold.

The result means that 390 lots have been sold in the year to date, with overall proceeds exceeding £27 million.  

The September auction at the Liverpool Marriott Hotel attracted a large attendance and there was interest in stock across all categories.

Among the highlights was a residential investment in the Sefton Park area of Liverpool. The 3 bedroom double fronted semi on Livingston Road which is let by way of an Assured Shorthold Tenancy producing £7,800 per annum sold for £173,000, off a guide of £150,000.

Meanwhile a vacant three storey semi in the Fairfield area of Liverpool, converted to provide 6 flats which could produce annual income of over £25,000 when fully let, sold for £165,000. The guide price was £150,000.   

Elsewhere, a two storey commercial property on Freeman Street in Birkenhead which includes an advertising hoarding producing £2,200 per annum and an adjacent parcel of land sold for £100,000.

Cathy Holt, Auction Manageress at Sutton Kersh says: ‘It was good to be back in the auction room after the summer break and it was encouraging to see investors turning out in large numbers.

‘However buyers were slightly more cautious and risk averse, which meant there wasn’t the frenetic bidding we have seen in recent sales. This suggests there is still some lack of confidence in the economy, coupled with the possibility of interest rate rises in the medium term. It is important for vendors to understand this when considering reserve prices.’
 
Sutton Kersh is now inviting instructions for its next sale which takes place on 30 October. The catalogue closes on 3 October.

If you have property or land which you are considering offering for sale by auction, contact the Sutton Kersh Auctions team on 0151 207 6315.

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