Sutton Kersh auction raises £3.1m

The auctioneer said 38 of the 64 commercial, residential and investment properties sold at its last sale at the Marriott Hotel in Liverpool city centre.

Seventeen properties sold prior to the auction on 27 October for £1.4m. A further 21 sold in the room and post auction, pushing the total sales to 60%.

Sutton Kersh said the opening lot was a property on Wellington Street in Garston, available as a redevelopment and refurbishment opportunity, and attracted interest from numerous under bidders.

Originally a school, and then later used as offices, the two storey building has a total internal floor area of 13,084 sq ft and a total site area of 9,526 sq ft.

The property had a guide price of £70,000 and sold for £170,000.

A redevelopment opportunity located at 59-61 Shaw Street in Everton achieved the highest hammer price of the day. The lot comprising two large adjoining and interconnecting former Georgian dwelling houses with accommodation arranged over four floors and a spacious yard area sold for its guide price of £250,000.

Sutton Kersh said other lots to sell significantly over their guide prices included a vacant residential property on Upper Dicconson Street in Wigan, which was guided at £95,000 plus and sold for £112,000 and a residential investment on 51 Broadhurst Street in Aigburth, which was guided at £100,000 plus and sold for £115,000.

James Kersh, director at Sutton Kersh, said: "This was the most positive auction room I have witnessed in a long time. There were many investors present with the intention of buying and buoyant bidding levels resulted in decent hammer prices being achieved. Speaking with a number of professional investors, they believe the market is now bottoming out and are keen to capitalise on the deals available by growing their portfolios, optimistic of making good returns as the market enters recovery."

For the first time ever, Sutton Kersh also had a vehicle registration plate on offer at its property auction aimed for supporters of Everton FC.

However, the DVLA number plate, TOF 33S, did not sell and will not be offered through any future Sutton Kersh auctions.

The registration plate, which is kept in private hands and was issued in 1977, carried a guide of £5,000-£7,000 and Sutton Kersh said all of its commission raised would have been donated to the Rhys Jones Memorial Fund if it had sold.

Sutton Kersh is now accepting instructions for its final auction of the year, which will take place on Wednesday 8 December.