Sutton Kersh auction generates over £4.6M

Merseyside auctioneer Sutton Kersh sold 75% of the lots offered at its first auction of the year, generating proceeds in excess of £4.6M.

The sale at the Marriott Hotel in Liverpool attracted a large attendance including investors, owner occupiers and developers. Competitive bidding helped a number of lots exceed their advertised guide prices.

Cathy Holt, Joint Head of Auctions at Sutton Kersh said: ‘It was good to be back in the auction room after the long winter break .We had assembled a strong catalogue to kick off our 2015 auction campaign which offered a wide variety of opportunities to suit all budgets.

20 lots sold prior to the auction which contributed to the strong overall performance and with plenty of post-sale interest in stock still available the figures are likely to increase.

Highlights included the very first lot of the day, a vacant three storey commercial property in Birkenhead combining retail and office space, which achieved £132,000 off a guide price of £100,000 plus.

However, the stand out performer was a residential investment in Liverpool’s Georgian Quarter. The property on Huskisson Street is arranged as five self-contained flats producing annual rental income of £27,000. It was finally knocked down for £374,000 to an investor in the room who fought off two determined telephone bidders. The guide price was £300,000 plus.

Elsewhere, a vacant three bedroom mid terrace on Ling Street in Liverpool L7 achieved £64,000, well above the advertised guide of between £40,000 and £45,000.

Meanwhile, a residential investment in the Maghull area of Liverpool producing rental income of £3,900 per annum sold for £87,500. The three bedroom property on York Road had been offered at a guide of £75,000 plus.

Sutton Kersh is now inviting instructions for its next auction on Thursday 16 April. The final date for entries is 20 March.

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

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