Property firm Sutton Kersh says its latest Liverpool auction saw sales of £8.4m taking the total for the year close to £40m. Tony McDonough reports
Sutton Kersh says its latest Liverpool property auction has generated receipts of £8.4m with £4m in sales in the days prior to the online event.
Despite the recent downturn in the market, Sutton Kersh Auctions is still reporting demand for residential and investment properties. However, the latest total was down on May’s auction which raised £13m. It takes total sales for the year above the £35m mark.
First lot of the auction, a two-bedroom mid-terraced property suitable for residential investment in Liverpool 6, sold for just under £100,000 and had a guide price of £75,000.
A mixed-use commercial & residential property on Crosby Road North had a guide price of £175,000 and sold for £190,000. Another mixed-use property, this time in West Derby, had a guide price of £135,000 and sold for £158,000.
Lot 47, a three-bed mid-terraced property on Dumbarton St in Walton, which required some modernisation but had a potential rental income in excess of £8,400 a year, sold for £93,000.
Lot 64, a three-bed property on Mill Lane in the South Liverpool suburb of Wavertree, was popular with bidders. It had a guide price of £100,000 and sold for £136,000.
Associate director at Sutton Kersh Auctions, Cathy Holt, said: “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 Liverpool city centre sold for £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-bedroom mid-town house had a guide price of £70,000 and sold for £104,000 after an intense bidding war.
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Finally, Lot 94 was a little further afield in Devon and drew bidders in from across the country. This three-bedroom family home had a guide price of £150,000 and sold for £194,000.
Cathy added: “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.”
Sutton Kersh will be holding its next auction on Thursday, September 14.