Property firm Sutton Kersh generates £8.2m from first Liverpool property auction of 2023 watched by hundreds of people across the UK. Tony McDonough reports

Sutton Kersh generated £8.2m in receipts from its first Liverpool property auction of 2023 – with £5m prior to the live online event.

Hundreds of people from across the UK logged on to watch the auction. The £5.2m figure could go higher due to post-auction sales. In 2022 Sutton Kersh generated a total of £58m in sales.

Available lots in the latest event included more than 40 residential properties, more than 60 vacant residential and a mixture of land and commercial properties.

Cathy Holt, associate director at Sutton Kersh Auctions, said “The demand for residential lots is still high. Once again auctions are proving a popular way for first-time buyers to climb onto the property ladder.

“I believe this is because the total cost of a property and refurbishment could be lower than getting a mortgage to cover a house that is move-in-ready.”

First Lot to go under the hammer was a three-bedroom vacant residential house in south Liverpool. This property needed modernisation and refurbishment works but sold for £156,000, £36,000 over its guide price of £120,000.

A three-bedroom mid-town house in Bootle, which is in good condition throughout, sold for £114,000 which was £34,000 above its guide price. It is currently let by way of an assured shorthold tenancy producing a rental income of £9,000 per year.

Lot 52 on Emery Street in Walton also gained significant interest on the day which resulted in it selling for £78,000. 

Another three bed mid-terraced property, located in Tuebrook, prompted a strong bidding war between interested buyers. This lot was in need of a full upgrade and refurbishment and had a guide of £60,000 but sold for £99,500.

Next Sutton Kersh auction will take place on April 5.