Liverpool property firm Sutton Kersh raises more than £9.5m at its first auction of 2024. Tony McDonough reports
Sutton Kersh Auctions has raised more than £9.5m from its latest Liverpool property auction and its first of 2024.
In January LBN reported that Kersh had generated just under £60m from its auctions in 2023, taking £7m at its final event of the year. This latest figure represents a strong start to the year for the firm.
Associate director Cathy Holt said there was plenty of interest in the properties offered, despite the current economic climate.
She believes Liverpool is still “as popular as ever” for property investment and the demand for properties still seems high in key areas within the city. Cathy added: “Last year the market seemed volatile, so it will be interesting to see how this year plays out.”
There were a considerable number of lots that sold prior to the actual live auction this time as well as a number of high value properties.
Lot 19 was a two-storey detached property on East Prescot Road, providing four self-contained flats with two separate front entrances and staff accommodation, which could be utilised as a studio flat.
It had a guide price of £250,000 and after an intense bidding war sold for £52,000 more at £302,000. When fully let the potential rental income is approximately £35,000 per year, so the property provides a fantastic investment opportunity.
Another Lot that gained a considerable amount of interest was in Liverpool’s Georgian Quarter.
Lot 28 was a converted two bedroom terraced house which is currently being utilised as a short term AirBnB let for £4,000 a month. It had a guide price of £255,000 but sold for £275,000; £20,000 over its guide price.
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Cathy said: “With the changes in interest and mortgage rates last month its clear people are feeling more confident to go back into property investments for both resale, occupational and investment purposes. We expect this to continue throughout the year.”
Sutton Kersh Auctions will hold its next auction on April 4.