£7 Million worth of property sold in May for Sutton Kersh

Sutton Kersh held their May auction, which saw the Liverpool-based property auction agent sell just under £7 million worth of property.

Over the last few auctions, there has been a considerable rise in demand for vacant residential properties in Liverpool and its surrounding areas. 

Lot 3 Macdonald Street in the Wavertree area of Liverpool had a guide price of £65,000, which went on to sell for £114,000, £49,000 over its guide price.

The property needed full modernisation and has a potential rental income of approximately £9,600 a year.

This auction saw the team achieve over £ 400,000 on reserve prices, highlighted by the number of bidding wars as investors and buyers were keen to secure these vacant residential and investment opportunities.

“Many buyers of vacant residential properties will carry out the works required on them, to then either rent out or sell on. Many of the lots offered had attractive potential rental incomes, which is a great source of income for many people these days, hence the attraction in property investments.” comments Associate Director Cathy Holt.

Other stand out Lots included;

Lot 9, a 3-bed midterrace house on Hall Street in Clock Face, St Helens, which had a guide price of £80,000 and then sold for £126,000

Lot 16, in the popular investment area of L4. This 2-bed house on Primrose Street had a guide of £40,000 and sold for £88,000. It needed a full upgrade and refurbishment scheme throughout, but once works were complete, it has a potential yearly rental income of £10,200.

A very lucky buyer purchased Lot 30, a 5-bedroomed 3-storey plus basement space property on Woburn Hill in L13, which had a guide of £190,000, this then sold for £238,000. The property needs an upgrade and refurbishment scheme, and once upgraded, would be suitable for occupation, resale or investment purposes. It also has potential for a flat conversion, subject to gaining the necessary consents.

Lot 55 drew a huge crowd of bidders who were keen to get their hands on this 3-bedroom home once Greenhill Road, in the highly desirable area of L18 in South Liverpool, sold for £186,000, £46k over its guide price.

The highlight of the auction had to be Lyttelton Road in Aigburth, a 3-bed terraced house that was previously listed with another local estate agent and failed to sell; however, it went on to sell through the Sutton Kersh auction for £80,000 over its asking price. It seems to be there are more properties coming from estate agents at the moment that are failing to sell within the vendor’s requested time period or due to a failed survey. 

Sutton Kersh will be holding their next auction on 24th July.