Spring Sale of Seven Million Pounds worth of property for Sutton Kersh
Sutton Kersh Auctions held their second auction of the year this week, which saw them sell over 80% off the Lots offered, equating to over £7.4 million.
2024 has seen the property market stabilise, with properties selling consistently when price and location are right.
Once again, pre-sales were strong, with the team selling over £4 million worth of property ahead of the auction itself. This auction had a mixture of high and low valued Lots; residential, commercial and mixed-use properties, in addition to vacant properties and land.
Cathy Holt, Associate Director of Sutton Kersh, comments:
“Our latest successful auction underscores the enduring appeal of property investment, despite market challenges and concerns around uncertain interest rates. We are proud to have achieved outstanding results for our clients, reflecting the strength and resilience of the property market and the hard work of our team.”
The auction started off with a three-storey property which was a former public house on Thirlmere Road, L5, just walking distance from Liverpool Football Club. This was listed with a guide price of over £15,000 and, once demolished, the land would be suitable for redevelopment to include a block of apartments or even a retail unit, subject to consents. After an intense bidding war, this sold for an impressive £143,000 which was £128,000 over its guide price.
Another Lot in the L5 area of Liverpool, on Breck Road, had a guide price of £100,000 and sold for £164,000; a huge 64% over guide.
Lot 34, a vacant mixed-use investment property on Picton Road, L15, had a guide price of £125,000 and sold for £140,000.
Furthermore, Lot 42, a vacant three-bedroom semi-detached house situated at 22 Rawlins Street, L7, garnered significant attention, selling £50,000 above the guide price of £90,000. Despite requiring refurbishment, the property attracted enthusiastic bidders, demonstrating the continued appetite for both residential and investment opportunities.
Lot 54 was on Back Mersey View in L22 and it gained immense interest both pre-auction and on the day. This was for a block of 11 lock-up garages which are currently let, producing £6,600 per annum. The land benefits from planning permission to demolish these buildings and erect a pair of two-bed bungalows.
As the property market continues to evolve and more and more people are looking for investment and development opportunities, auctions are an attractive way of buying and selling more than ever. Sutton Kersh Auctions remains committed to delivering exceptional results for both buyers and sellers alike and they are already having properties listed for their next auction on 23rd May 2024.
