Lambeth Hotel

Auction result ‘good considering market’

Sutton Kersh enjoyed standing room only at its 25 May auction at the Hilton Hotel in Liverpool One.

Thirteen of 63 properties for sale were sold prior to the day. A further 20 sold in the room and seven more sales completed afterwards. Total sales for the auction amounted to just over £2.3m with more deals "expected to be brokered over coming weeks."

The best performing lots of the day were the former Lambeth Hotel on Smith Street in Walton which sold for £75,500 compared to a guide price of £25,000.

Wavertree Town Hall was also up for grabs. The historic building sold in the room for its guide price of £100,000.

Cathy Holt, auction manager at Sutton Kersh, said: "The auction was well attended and to sell 20 out of 50 properties in the room is a good result in current market conditions. Further sales are currently in negotiation and we hope to push over the 65% success mark. It is encouraging to see properties selling for well in excess of their guide price, especially investment properties, showing eagerness amongst investors to buy. I believe the majority of investors are still being very cautious and negotiating hard to secure cheap deals."

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