Sutton Kersh auction hits £4.8m

Auctioneer Sutton Kersh's latest Merseyside auction generated proceeds in excess of £4.8m, with 64 of the 91 lots sold.

The firm said there was strong post-sale interest in the stock still available, with the final receipts expected to reach £5m.

The best performing lot at the sale, held at the Liverpool Marriott Hotel, was a pair of three-storey semi-detached houses in Wallasey, which have been converted to provide 16 bedsits. The properties on Victoria Road sold for £260,500, more than £110,000 above the advertised guide price.

A two-bedroom flat at Minster Court in the university district of the city centre achieved £80,500 from a guide of £50,000. Meanwhile, a one bed flat at Hillside Court in Woolton which was guided at £55,000 sold for £81,250.

Commercial investments included the former Rileys Snooker Hall in Birkenhead, which sold for £178,000 from a guide of £115,000.

Cathy Holt, auction manager at Sutton Kersh, said: "We are receiving a significant number of enquiries for stock which failed to reach the reserve on the day, but with most vendors still keen to sell I am confident of further sales."

Sutton Kersh is now inviting instructions for its next sale which takes place on 17 July. The catalogue closes on 20 June.

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