Property firm Sutton Kersh has raised £11.5m from its latest Liverpool property auction taking its total for the year to more than £60m. Tony McDonough reports
Sutton Kersh says its September Liverpool property auction generated sales of more than £11.5m taking its total receipts for the year past £60m.
Its first auction of the final quarter of the year saw more than 500 bidders registered and 80% of properties listed sold. The team offered 96 lots on the day after selling more than £3.1m worth of property prior to the online event.
Lot 1 generated an “exceptionally high” degree of interest. It was a three-storey end-terraced property in the heart of Woolton Village in Liverpool. It comprised a ground floor restaurant, Buffalo & Tabasco, which opened in May, together with a three-bed flat above over the first and second floors. It had a guide of £215,000 and sold for £340,000.
Throughout the auction, bidders showed particular interest in residential properties that were either terraced or semi-detached. Three-bedroom properties for investment or occupation were particularly popular, such as Lot 14, a three-bed double fronted semi-detached house in Crosby. It was listed with a guide price of £100,000 and sold for £140,500.
Another mixed-use property that proved popular both in the run up to the auction, and also on the day, was lot 41 in West Derby Road in Tuebrook. It had a guide of £70,000 and after a long bidding war it sold for £110,500.
Cathy Holt, associate director of Sutton Kersh Auctions, said “We are delighted by our September results which brings our year-to-date total value of sales to more than £60m through just five auctions.
“We have two auctions to go for this year and already have a waiting list of those wanting to sell at our October auction and buyers who missed out on today’s Lots re-registering too. This shows there is still a huge demand for investment in the property market for both residential and commercial uses.”
Sutton Kersh Auctions will be holding its next auction on Thursday, October 28.