Despite the recent downturn in the market, Sutton Kersh Auctions still saw a huge demand for residential & investment properties both prior & on the auction day itself, with the team selling £4 million worth of property prior to the event.
The first Lot of the day, a two-bed mid-terraced property suitable for residential investment in L6, sold for just under £100,000 and had a guide price of £75,000.
A mixed-use commercial & residential property on Crosby Road North in L22 had a guide price of £175,000 and sold for £190,000. Another mixed-use property, this time in West Derby on Honeys Green Lane, had a guide price of £135,000 and sold for £ 158,000.
Lot 47, a three-bed mid-terraced property on Dumbarton St in L4, which required some modernisation but had a potential rental income in excess of £8,400 per annum, sold for £93,000.
Lot 64, a three-bed property on Mill Lane in the South Liverpool suburb of Wavertree, was exceptionally popular with bidders; it had a guide price of £100,000 and sold for £136,000. The property needs refurbishment and modernisation, but offers a great opportunity for occupation, resale or investment purposes.
Associate Director Cathy Holt commented “I am really pleased with how our summer auction has gone, especially with all the apprehension around investing in property amid the recent interest rate changes. There is still demand for vacant residential properties in and around Liverpool and this was reflected within the auction results.”
An apartment on York Street in the heart of Liverpool city centre sold for an astonishing £49,000 over its guide price of £90,000.
Another stand out Lot, which gained a great deal of interest due to its location next to Liverpool John Lennon Airport, was Lot 68 in Speke. This three-bed mid-town house would make the perfect Airbnb property or is suitable for occupation or investment and had a guide price of £70,000 and sold for £104,000 after an intense bidding war.
Finally, Lot 94 was a little further afield in Devon and drew bidders in from across the country. This three-bed family home had a guide price of £150,000 and sold for £194,000.
Cathy Holt said “In this auction we seemed to have a good number of buyers looking for second or holiday homes, which was why so many of our Coastal homes were in high demand. We had Lot 97 in Devon and this three-bed property required comprehensive refurbishment throughout but would make a beautiful family home; it had a guide price of between £100,000 and £125,000 but ended up selling for £213,000.”
Sutton Kersh will be holding their next auction on Thursday 14th September 2023.