Smith & Sons sells 75% of lots at first sale of 2012

Auction house, Smith & Sons, secured sales in excess of £1.25m on the day of its latest auction in Wirral.

Chris Johnson, Auctioneer commented "We were really pleased with the numbers attending this first sale of 2012, the success rate and prices achieved for several of the lots.

"Strong demand continued for houses in need of refurbishment in good residential areas there being a number of investors, builders and owner occupiers looking for this type of property with potential to refurbish to their own requirements.

The company's first auction of the year was held at the Village Hotel in Bromborough on 22 February.

A three-bedroom detached house in Oxton, Birkenhead sold for £139,000 against a guide of £75,000. The refurbishment project offered potential for owner occupation or investment.

Similarly, a terraced house in Claughton Firs, Oxton sold for £125,000 against a guide of £90,000 and a detached bungalow in Pasture Road, Moreton sold for more than double its guide price at £60,000.

Six flats suitable for student accommodation were offered in Kensington, Liverpool attracting interest from a number of investors as did the regulated tenancies in Wallasey and Bromborough.

Smith and Sons next auction is to be held in April with a closing date for entries of 23 March.

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