Merseyside auctioneer launching joint scheme

Merseyside Property Auctions’ next auction is being held tomorrow at the Jury’s Inn Hotel in Liverpool city centre.

Twenty four lots are being offered as residential investment mainly within the Liverpool area with a mix of tenures and refurbishment opportunities for owner occupation, resale or letting.

A standout lot is a three storey five bedroom mid terrace property currently producing £4,800 a year based on two tenants, which is being highlighted as a good residential investment. The property, which was previously let to five tenants producing £11,400 a year, is located in a residential area fronting Picton Road in Wavertree, close to Liverpool city centre.

Five of the 29 lots originally available have already been withdrawn or sold prior to the auction.

Merseyside Property Auctions’ managing director Kate Hughes will also be launching its new scheme with Bluerow Lettings at Thursday’s auction.

The auctioneer and Bluerow are aiming to give buyers the chance to market their properties four weeks earlier than in most cases, by letting and marketing the property before the buyer has paid 100% of its cost.

Bluerow will evaluate each lot, suggest alterations that could add value and estimate how much it would achieve on the current rental market.

Hels Griffin-Booth, director of Bluerow Lettings, who came up with the idea, said: “For many investors, unless they have been to view a property prior to the auction, they don’t actually know what is achievable.

“I decided to approach Kate over what is a 28 day window of opportunity that is currently a wasted one. By teaming up together, Bluerow will now go and view the properties MPA have on their books, see what their realised income potential could be and start to market them via our extensive databases as soon as they are sold under the hammer.”

The auction will take place tomorrow (22 April) from 12pm.