Merseyside home sells for £150k over guide price!
Sutton Kersh held their penultimate auction of 2024 last week, selling some fantastic residential and investment properties and resulting in the team selling just under £7 million worth of property.
A three-bedroom detached bungalow on Bushey Lane in Rainford, sat on a good-sized plot of land with potential to convert into a dormer-style loft conversion, was listed with a guide price of £200k. After phenomenal interest, this Lot sold for £354k, which was £154k over its guide price.
There was a considerable amount of vacant residential properties offered, as with the continued uncertainty around interest rates and the property market, people are still in need of housing. For many, buying at auction is a more attractive option to get a reasonably priced home, the below are some great examples.
There were plenty of lovely homes that sold for under £100k, such as a three-bed mid-terrace listed at £70k on Glamis Road, L13, which sold for £96k. After refurbishment, it would make a great first-time home, but it has the rental potential of over £10k per annum.
Another Lot with a guide price of £70k, this one in the popular investment area of L6 on Mansell Road, sold for £100k. This two-bed mid-terrace also needs refurbishment but has the potential rental income of just under £10k per annum.
An absolute steal of an investment property had to be a third-floor studio apartment within the Colemans Building, a converted warehouse, in L8 which sold for £36k, that is currently let and already producing a yearly rental income of £8,400.
A lovely studio apartment off Ullet Road in South Liverpool sold for under £40k. This self-contained apartment has off-road parking and, after some cosmetic work, could have a rental income of £750pcm – or it would make a great first-time buyer’s home. The studio was fantastic value due to its location on the popular Alexandra Drive in South Liverpool, L17, and proximity to the City Centre, parks and transport links. It was listed for £35k and sold for £4k over asking at £39k.
A lucky bidder won Lot 10 for just £65k which was £10k over its guide price. This Lot, a three-bed terraced home in L5 on Snowdrop Street, was already let and producing just under £8k per annum.
Another great buy was a two-storey retail unit in Widnes, with a guide of £40k, went on to sell for £74k. It currently has a tenant in situ who has been there for over 15 years and a private entrance to the first floor, which has potential for self-contained accommodation. This was a great buy with it already producing a rental income of approximately £7k per annum
Sutton Kersh Auctions associate Director Cathy Holt commented:
“We have found that more and more properties are being bought through auction by first time buyers & properties suitable for immediate occupancy are highly sought after. Also there has been a rise in interest in commercial/retail units.”
Sutton Kersh will hold their last auction of 2024 on 12 December.
