Sutton Kersh are off to a flying start to 2023 with a successful first auction of the year. The team sold £5 million worth of property prior to the actual live auction. The auction itself was watched by hundreds of people throughout the UK and they sold over £8.2 million worth of property in total, with this figure still rising due to post auction sales.
Cathy Holt, Associate Director, said “The demand for residential Lots is still high and once again auctions are proving a popular way for first time buyers to climb onto the property ladder. I believe this is because the total cost of a property and refurbishment could be lower than getting a mortgage to cover a house that is move-in-ready.”
The available Lots included over 40 residential properties, over 60 vacant residential and a mixture of land & commercial properties.
The first Lot to go under the hammer at Sutton Kersh's first auction of 2023 was a three bed vacant residential house in the popular suburb of L19 in South Liverpool. This property needed modernisation and refurbishment works but would make a great family home, so there no surprise it sold for £156,000 which was £36,000 over its guide price of £120,000.
A three bedroomed mid-town house property in Bootle which is in good condition throughout sold for £114,000 which was £34,000 over its guide price. The property, located on Southport Road, is currently let by way of an Assured Shorthold Tenancy agreement producing a rental income of £9,000 per annum, making it a great residential investment property. The vendor was absolutely delighted and said “Thanks for all the work you put into the sale of my house at auction today, which is also my birthday – I’m delighted. I wouldn’t have got the amazing hammer price that I did today without the efforts of the Sutton Kersh team. This is the only way I will sell any of my houses in the future.”
Lot 52 on Emery Street in L4 also gained a lot of interest on the day which resulted in it selling for £78,000, further highlighting the demand and popularity of residential and investment properties throughout Liverpool.
Another three bed mid-terraced property, this one located in L6, prompted a strong bidding war between interested buyers. This Lot was in need of a full upgrade and refurbishment and had a guide of £60,000 but sold for £99,500.
Their next auction will take place on 5th April.