Sutton Kersh October auction nears £4m
Sutton Kersh sold 71 of the 93 properties offered at its October auction, generating proceeds of over £3.7m. Post-sale activity is anticipated to push the figure past £4m.
Among the best performing lots of the day was a residential redevelopment opportunity in the Mossley Hill area of South Liverpool which sold for £623,000 off a guide of £550,000.
Carleton House in Palmerston Road is a former school with planning permission for conversion into six flats. The lot included the adjacent coach house which has planning for a self-contained dwelling.
Meanwhile, a vacant residential property close to St Helens town centre was the subject of a bidding war. 206 A&B Clipsley Lane is a two-storey detached property which had been previously used as offices, before being converted to provide two interconnecting semi-detached houses. The potential to create two individual properties, for letting purposes, was reflected in the price achieved of £106,000, off a guide of £65,000.
Elsewhere, a tenanted five-bedroom mid-terrace property in Mandeville Street, off County Road, which generates £6,500/year sold for £64,500, a gross return of over 10%. The guide price was £40,000.
Sutton Kersh is now inviting instructions for its 12 December auction, which will be Merseyside's last property auction of 2013.
