Sutton Kersh Auctions generated total proceeds exceeding £2.5 million at its penultimate property auction of the year. The event took place on the 25th October at the Liverpool City Centre Marriott Hotel in Queen Square.
From the initial catalogue of seventy eight lots, three were withdrawn and five sold prior. The remaining lots attracted a packed out auction room and strong bidding. A total of fifty lots have sold to date with more sales in the pipeline.
Competitive bidding for the freeholds of three, two-storey retail units and a plot of land at 184, 184a, 186 and 192 Lodge Lane which were guided at £100,000 resulted in them selling for a total of £118,000.
The best selling lot of the day was Bleak House Cottage on Chapel Lane in Bootle. The premises comprise a three bedroomed cottage, two stables, out-buildings, gardens and a paddock. Planning permission exists for the construction of seven dwellings on the site which extends to approximately 0.8 acres. Guided at £150,000 the vacant residential property attracted a high number of bidders before selling in the room for £200,500.
Other lots to sell significantly over their guide prices included three apartments at 27 Lilley Road in Kensington which had nil reserve and sold for £23,250 and a residential investment opportunity at 109 Ince Road in Anfield which was guided at £50,000 and sold for £63,000.,/p>
Cathy Holt, auction manageress at Sutton Kersh commented, “There were lots of investors present with the intention of buying and buoyant bidding levels resulted in decent hammer prices being achieved. Speaking with a number of professional investors, they are now growing their portfolios, optimistic of making good returns as the market continues to recover. This auction marked our tenth birthday and it was great to celebrate the occasion with a packed out auction room and a good result.”
Sutton Kersh Auctions is now accepting instructions for its final sale of the year which will take place on the 6 December. The catalogue will close on the 14th November. Vendors will receive one third off the usual entry fee price of £300 + vat.