More than 100 lots were sold at the latest Liverpool property auction held by Sutton Kersh and the Stamp Duty holiday has pushed sales up to £13m. Tony McDonough reports
Liverpool property auction house Sutton Kersh has sold £13m worth of property in its first event of 2021 with one commercial space selling for £167,000 above guide price.
Sutton Kersh took its auctions online last summer due to COVID-19. It has now held several virtual events with the latest on February 18. It sold 40 lots for a total of £5m prior to the auction and sold a further 68 on the day – a 90% success rate.
More than 500 people registered to bid at the auction and it was watched by hundreds of people across the country. Sutton Kersh believes the current Stamp Duty holiday is driving sales.
The first three Lots offered sold for a considerable amount over their guide prices amid strong bidding wars. Lot 1, a two-storey gated commercial space in Manchester, sold for £167,000 above its the guide price.
Second lot offered was in east Liverpool and was a double-fronted detached property with two, two-bed flats, both of which are currently let and producing £8,160 in rent a year. This lot sold for £197,000 after being listed with a guide price of £135,000.
The third lot saw multiple bidders registered and resulted in a lengthy bidding war. It was a mixed-use property in Rose Lane in Mossley Hill, south Liverpool. The property was listed with a guide price of £175,000 but sold for a heft £119,000 above this.
Cathy Holt, associate director of Sutton Kersh Auctions, said “To sell more than 100 lots – worth in excess of £13m – is a true testament to our team. It demonstrates their ability to attract and secure the right vendors and buyers and offering the properties at the right prices.
“I couldn’t be happier with how it went. There was a real buzz with plenty of bidding wars and I’m delighted that we achieved the company’s highest sales result to date, especially in these unprecedented times. We only have 12 properties left to sell post auction, again an extraordinary result.”
Sutton Kersh’s next auction will be taking place on April 8.