Sutton Kersh Auctions reports 4% rise in revenue

Sutton Kersh Auctions TeamSutton Kersh Auctions has reported a strong first half of 2011. The leading Merseyside property auctioneer has offered 22.1% more lots when compared to the same period last year, and has sold 25.84% more, leading to a 4% rise in its total revenue.

So far this year, Sutton Kersh has offered 284 properties across its 4 auctions held in Liverpool City Centre. Of these properties offered, 208 have sold, giving them a selling average of 74.25%; more than the national average. Its total revenue is £12,195,000, with 3 auctions remaining this year.

The auction house will hold its next sale on Thursday 8th September at the Marriott Hotel in Queens Square, Liverpool City Centre. There are 70 properties up for grabs at the event which will commence at 12noon. Guide prices start at just £2,500, for a vacant commercial unit on Horsfall Street in L8, near to Brunswick railway station. The single storey, brick built, detached building is located in the alleyway behind 2 Horsfall Street. It was previously used for storage and is believed to have mains services, however potential purchasers should make their own enquiries.

Residential investment opportunities account for a high proportion of the catalogue. Lot 1 is a 3-bedroom vacant residential property on Tenby Avenue in Litherland. The property which is located in an established residential location off Hatton Hill Road, benefits from gardens and has a guide price of just £45-50,000.

Another vacant residential property which has attracted much interest is 46 Burdett Street in Aigburth. The 3-bedroom middle terrace property has double-glazing and central, and one modernised, is highlighted as being suitable for occupation or investment purposes. Located in popular residential area, the property which is guided at £70,000+, is expected to attract a good level of interest in the room.

James Kersh, director at Sutton Kersh comments, “We are very pleased with how this year has progressed so far. Whilst we are still some distance away from a full recovery, the market is moving in the right direction. Price and yield are key to securing a sale in the present market. Low priced properties generating a minimum of a 10% yield are being snapped up. As the lettings market continues to thrive, with tenant supply outstripping the supply of quality properties, buy-to-let is an attractive investment. But as always, property investment is a long-term game, and investors must be patient to maximise their returns.”