Leading Merseyside auction house, Sutton Kersh raised over £3million at their recent sale. The auction, which took place on the 5th April at the Marriott Hotel in Queen Square, was the largest on Merseyside since 2008 with a catalogue of 89 properties up for grabs.
High levels of pre auction activity resulted in 19 properties being sold prior to the auction. A further 35 lots were then sold in the busy room, taking the total sales percentage to 65%; their best result since June 2009.
The auction started well with 7 of the opening 9 lots being sold. Lot 1, a development opportunity on Hartington Road in Toxteth, proved to be the star lot of the day selling for almost double its guide price. The substantial 3 storey property comprising 3 self-contained flats, and a plot of land to the side was highlighted as being suitable for redevelopment. Following a competitive bidding was from numerous interested parties, the property that was guided at £50,000 achieved a market value of £95,000.
The bargain lot of the day was a 3-bedroom mid terraced property on Crocus Street in Anfield. Described as being in need of full repair and modernisation and as having severe structural defects, the property was guided at £5,000 and sold in the room for £16,500.
A mixed-used investment property on Knowsley Road in Bootle also realised at well in excess of its guide price. The mid terraced building is arranged over 2 floors and comprises 2 vacant shop units on the ground floor and 2 2 bedroom flats on the upper floor. Guided at £40-45,000 it was sold in the room for £65,500.
Cathy Holt, auction manageress at Sutton Kersh comments, "I am delighted with the result. It was encouraging to see so many investors in attendance and so many competitive bidding wars. There is still an air of caution, but generally there is a good level of interest for properties that are guided at the right price."
Sutton Kersh will hold their next auction on the 25th May at the Hilton Hotel in Liverpool One.