Sutton Kersh generates more than £9.5m in receipts at its latest Liverpool property auction. Tony McDonough reports
Liverpool property firm Sutton Kersh has generated more than £9.5m in sales from its latest auction.
Kersh’s team sold properties worth more than £5.9m prior to the event itself. There was demand for residential properties and the auction started well with Lot 1 which was a three-bed semi-detached house. With a guide price of £135,000 it sold for £161,000.
Another residential property, Lot 6, was a two-bed end town house in Old Swan. Following modernisation, the property would be suitable for resale, occupation or investment purposes. It had a guide price of £100,000 and sold for £116,00.
Lot 31 was a Liverpool city centre freehold offering seven bedrooms over three floors, with two shared bathrooms and two double bedrooms with ensuite shower rooms and a communal living room and kitchen.
It currently produces a gross annual income of £49,440 a year. This lot had a guide price of £450,000 and went on to sell for £502,000 at auction.
Lot 45 was described as the ultimate ‘doer-upper’ with a guide price of £200,000. This 4/5 bed double fronted middle terraced property is in Wavertree. Despite needing a full upgrade and scheme of refurbishment works it sold for £232,000.
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Cathy Holt, associate director at Sutton Kersh, said: “With the announcement of the election last night and the recent property news around interest and mortgage rates, I understand people are being more cautious.
“But as we can see from our auction results, if the properties are correctly priced there is still demand for them.”
Sutton Kersh’s next auction will be taking place on July 18.