Property auction generates over £5.5M

Sutton Kersh generated proceeds of over £5.5 million at its latest property auction.

The Merseyside auctioneer sold 68 (80%) of the lots offered, including 17 which sold prior, and says this reflects the serious bidding by investors who attended the sale at The Titanic Hotel, Stanley Dock in Liverpool.

Cathy Holt, joint head of auctions at Sutton Kersh says: ‘Not only did investors turn out in large numbers, they were intent on bidding seriously for the majority of lots in order to make sure they were successful. This meant a large number were the subject of bidding wars which also helped drive prices up. The result means we have generated over £15 million already this year for our clients.’

A vacant three storey, five bedroom end of terrace property in the Aigburth area of Liverpool was among the highlights, selling for £146,500, having been guided at £100,000 plus.

Meanwhile a residential investment property on Island Road in Garston producing rental income of £37,000 per annum sold for £300,000. The guide was £275,000 plus.

The very first lot of the day, a three storey property in Sefton Park, Liverpool arranged as five bedsits and three self-contained flats, with potential to produce annual rental income of £22,000, achieved £195,000. It had been guided at £175,000 plus.

Elsewhere a portfolio of four tenanted apartments at a popular development in Liverpool attracted four telephone bids and plenty of interest from the room. Offered individually at guides of £80,000 plus, they each sold for between £85,000 and £94,000.

Sutton Kersh is now inviting instructions for its next auction on Thursday 16 July at the Marriott Hotel, 1 Queen Square, Liverpool. The catalogue closes for entries on 19 June.

For more information please call Sutton Kersh Auctions on 0151 207 6315.

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