25 Pilgrim Street

Sutton Kersh sale makes £3.3m

Sutton Kersh raised £3.3m at its auction in Liverpool on 3 April, selling 61 out of 80 properties on offer.

Among city centre properties sold were 25 Pilgrim Street, guided at £295,000 and sold for £325,000. The student investment property currently generates a passing rent of £31,500 a year.

A vacant commercial property on westerly side of Hope Street, close to its junction with Leece Street, also sold in the room for £325,000. Subject to planning from the city council, the building will be suitable for conversion to commercial, residential, or leisure use. The property carried a guide price of £275,000 upwards.

A vacant residential property at 50 Stanley Park Avenue in Walton sold for more than double its guide price. The three-bedroom middle town house which is in need of complete modernisation was guided at £30,000 and sold in the room for £63,000.

3 Picton Grove in Wavertree also sold for double its guide price. Guided at £15,000 to £20,000 the property attracted a flurry of bidding before eventually selling for £43,000.

Cathy Holt, auction manager at Sutton Kersh, said: "It was another good auction. The room was busy and bidding levels were high which resulted in a number of properties selling for significantly over guide. Investors are now seeing an opportunity to purchase a property at levels which will show future capital growth. Price is starting to satisfy demand which is bringing momentum to the market."

Sutton Kersh will hold its next auction on 22 May.

Your Comments

Subscribe to our newsletter