Merseyside auctioneer Sutton Kersh sold 81 (78%) of the 104 lots offered at its first property auction of the year, generating proceeds of £6.2million.
The sale at the Liverpool City Centre Marriott Hotel attracted a large attendance and competitive bidding helped many lots exceed their advertised guide prices. With enquiries still coming in for unsold stock, further sales are anticipated.
The very first lot of the day, a mixed use development opportunity on Pomona Street in L3, set the tone for the rest of the auction, selling for £244,000 off an advertised guide of £140,000 plus.
Meanwhile, the former Stoneycroft Church on Greenfield Road in L13 which was offered at a guide of £140,000 plus towards the end of the sale, sold for £232,000.
There was also plenty of interest in a vacant two bedroom mid terrace property on Bodmin Road, off Walton Road in L4. Four telephone bidders, a proxy bidder and an enthusiastic room meant the hammer finally fell at £49,000, more than double the guide of £20,000 plus.
A house on Pilch Lane in L14 also created a bidding war. The vacant three bedroom end of terrace property, which had been offered at a guide price of £45,000 plus on behalf of a Housing Association, sold for £84,500.
Cathy Holt, Auction Manageress at Sutton Kersh said: ‘This was a fantastic start to our auction year. The room was exceptionally busy throughout the day and there was healthy competition and a real intent to buy for the majority of lots.
‘The appetite among buyers shows property remains a key investment vehicle. Vendors with stock to sell quickly need to consider the auction route very seriously and turn this positive sentiment to their advantage.’
Sutton Kersh is now inviting instructions for its next sale which takes place on 9 April. The catalogue closes on 14 March.