Sutton Kersh raises £2.4m at auction

Sutton Kersh raised in excess of £2.4m at its recent property auction after selling 66% of the properties available.

The auction took place last Thursday (8 April) at the Marriot Hotel in Liverpool city centre. Pre-auction activity was high and resulted in 25% of the catalogue selling prior to the event. This left 44 properties to be offered to a busy room from a catalogue that originally comprised 67 lots.

Two mid terrace properties in south Liverpool were amongst the best selling vacant residential lots. 53 Alverstone Road off Penny Lane in Mossley Hill, which was highlighted as a good buy-to-let opportunity, sold in the room for £105,000. 55 Prince Alfred Road, which comprises three one-bedroom flats and is suitable for either multiple occupation or conversion back to a single dwelling, was guided at £140,000 and sold for £178,000.

Sutton Kersh said a Grade II-listed former care home situated at 12 Holly Road just off Edge Lane, between Laurel Road and Beach Street, attracted a flurry of bidding from numerous investors and eventually sold for £28,000 over guide price.

Cathy Roberts, auction manageress at Sutton Kersh, said: "Under the current circumstances I am very pleased with the result. Historically there has always been a period of uncertainty in the build up to an election. We were advising vendor's to sell pre auction if a good offer was received to secure the deal. The positive sign is that investors with finance in place are looking to buy again. We have received a number of post auction offers, which should result more sales."

Sutton Kersh's next auction will take place on Thursday 27 May.