Property auction house Sutton Kersh is continuing to see a surge in interest in Liverpool properties after its latest auction raised £13m. Tony McDonough reports
Sutton Kersh has raised another £13m at its latest Liverpool property auction taking total receipts from four events in 2021 to more than £49m.
The company held its latest auction, which are still be held online due to COVID-19, on July 15 with 400 bidders vying to purchase 134 lots. These included more than 70 residential properties along with commercial and development opportunities.
Prior to auction the team sold 31 lots worth more than £4m. This was added to the results of the day which saw receipts hit £13m, with 85% of lots offered now sold. It takes the total number of properties sold this year to more than 400.
A number of lots sold significantly above their guide price. They included lot 1, a three-bed semi-detached home in the L10 area of Liverpool which had a guide price of £65,000 and sold for £93,000. Lot 29 was a mixed-use property in Walton producing £10,880 per year in rent It had a guide of £68,000 but it sold for £103,000.
Another mixed-use property, Lot 42, a three-storey terraced property comprising of a ground floor retail unit together with office and storage space to the upper floors, had a guide of £110,000.
This particular Lot had a high number of bidders register for it, which resulted in a lively bidding war and the property selling over its guide price. Lot 49 on the popular Smithdown Road, again a mixed-use investment property, had a guide of £150,000 and sold for £190,000 after a long bidding war.
Associate director of Sutton Kersh Auctions, Cathy Holt, said: “Given that the stamp duty holiday has come to an end and nationally there has been a slight dip in the market, our auction results today show that there is still a huge demand for certain types of investment, commercial and residential properties throughout England.
“The day was a huge success with us selling over £13m worth of property through a single auction yet again, with this figure set to rise due to post auction sales.
“Despite the many changing trends in the market over of the last 12 months there is still a very high demand for three-bedroom properties, which has been evident in our results, especially over the more recent auctions.”