More than £9.3m was raised at the latest Liverpool property auction held by Sutton Kersh, which was once again was live streamed to people across the UK. Tony McDonough reports
Sutton Kersh saw more than 500 investor from across the UK register for its latest Liverpool virtual property auction which raised receipts of more than £9.3m.
It was the firm’s second auction of the year with the first one in February raising £10.4m. Throughout 2021 Kersh raised more than £80m in property sales, selling more than 700 properties at seven events.
Prior to the latest auction, the team sold more than £3.5m of property – around a quarter of the available lots. The auction predominantly comprised vacant residential properties and residential investment opportunities.
First lot offered on the day was a three-bedroom mid-terraced property in the L11 area of Liverpool, which needed a full scheme of refurbishment works. It had a guide of £70,000 and sold for £101,000 on the day.
A number of flats and apartments produced strong bidding wars and ended up selling for similar prices. Lot 34 was a flat in Fairfield with a guide of £125,000 and lot 44 was flat in Old Swan L13 with the same guide. The former sold for £148,000 and the latter sold for just £500 less.
Cathy Holt, associate director at Sutton Kersh, said: “We offered a significant number of vacant and residential investment properties in this auction and once again they were exceptionally popular both prior to auction and on the day.
“Judging by the demand, Liverpool is still proving to be a popular city to both invest and reside in and there are plenty of great property opportunities available. Lot 7 is a great example of this; a three-bedroom mid-terraced property in L11, in need of complete refurbishment and modernisation, which sold for £25,000 over its guide price of £80,000.
One particular Lot that drew a lot of interest was lot 30, a two-bedroom mid-terraced house in Wavertree, which has a long-standing tenant and sold for £78,000. Ms Holt added: “Properties that are currently let were very popular.
“This is because the tenants are already in occupancy and therefore there is a guaranteed income from the properties upon completion of the sale, so they are great for investment purposes.”
Sutton Kersh will be holding its next auction on May 26, 2022.