Sutton Kersh hammers £5m in first auction of year

Liverpool-based Sutton Kersh reported 77% of lots were sold in its first auction of 2008, with sales of £5m achieved.

The property sale on 21 February saw 82 commercial and vacant residential properties on the market and many recorded values in excess of their guide price.

"The auction room was extremely busy. At a macroeconomic level, people are starting to put their money back into property. This was borne out by our sales and the positive start to the 2008 auction calendar," said Sutton Kersh director James Kersh.

A single storey public toilet in Liverpool's Lodge Lane sold to a local developer-investor for £90,000, nine times its guide price.

Other lots sold for more than four times their guide prices including vacant residential properties in Tuebrook and Toxteth, while a property, arranged into eight flats, close to Newsham Park doubled its guide price, selling for £223,000.

The next Liverpool auction will take place on 3 April.

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