Sutton Kersh auction generates over £5M

Sutton Kersh generated proceeds of over £5 million at its latest property auction and with strong interest reported in stock still available the final figure could reach £5.5 million.

The sale at the Crowne Plaza hotel in Liverpool was the biggest single day sale in the city for almost two years and attracted a large attendance made up of investors, owner-occupiers and developers.

Highlights included a substantial three storey property on Croxteth Road in Liverpool which sold for £560,000, having been offered at a guide price of £400,000 plus on behalf of a housing association. The vacant property comprises 13 self-contained flats and could produce annual rental income of over £65,000 when fully let.

Housing association stock proved popular throughout the sale with all nine lots in this category snapped up for prices exceeding the advertised guides.

Cathy Holt, joint Head of Auctions at Sutton Kersh says: ‘Housing association properties are invariably priced to sell and the majority already benefit from double glazing and central heating, making them ideal for investment purposes.’

Meanwhile, a vacant four bedroom double fronted detached house in West Derby in good order throughout and suitable for immediate occupation sold for £221,000. The guide price was £200,000 plus.

Elsewhere, a vacant three bedroom mid terrace property on Buckland Street in Aigburth sold to a cash buyer for £93,000 off a guide of £60,000 to £65,000.

Commercial sock included a vacant building on Park Road in Tuebrook, previously used as a car showroom and garage premises, which sold for £115,00 off a guide of £90,000 plus. A commercial investment on Oxton Road in Birkenhead achieved £54,000 off a guide of £30,000 to £35,000.

Sutton Kersh is now inviting instructions for its next auction which takes place on the revised date of Wednesday 3 June and is being held at the Titanic Hotel, Stanley Dock, Regent Road in Liverpool. The catalogue closes for entries on 8 May.

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