Sutton Kersh sale tops £2.5m

Merseyside auctioneer Sutton Kersh generated proceeds in excess of £2.5m at its penultimate property auction of the year.

From the initial catalogue of 78 lots, three were withdrawn and five sold prior. The remaining lots attracted a busy auction room and strong bidding on 25 October at the Liverpool City Centre Marriott Hotel in Queen Square. A total of 50 lots have sold to date with more sales in the pipeline.

The best selling lot of the day was Bleak House Cottage on Chapel Lane in Bootle. The premises comprise a three-bedroom cottage, two stables, outbuildings, gardens and a paddock. There is planning permission for seven homes on the site, which extends to 0.8 acres. Guided at £150,000 the vacant residential property attracted a high number of bidders before selling in the room for £200,500.

Three apartments at 27 Lilley Road in Kensington had nil reserve and sold for £23,250. A residential investment opportunity at 109 Ince Road in Anfield was guided at £50,000 and sold for £63,000.

Cathy Holt, auction manager at Sutton Kersh, said: "There were lots of 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 are now growing their portfolios, optimistic of making good returns as the market continues to recover. This auction marked our tenth birthday and it was great to celebrate the occasion with a packed out auction room and a good result."

Sutton Kersh is now accepting instructions for its final auction of the year, which will take place on Thursday 6 December.