Property

Public toilets sell for over £140,000 at auction!

A mixed-use investment property on Kemble Street in Prescot received an astounding amount of interest at the Sutton Kersh September Auction. After an intense bidding war, it sold for £230,000 which was a huge £95,000 over its guide price of £135,000.

The team sold £8.2 million pounds worth of property through their auction, which consisted of Lots listed predominantly throughout Merseyside. Also a Lot that was previously listed with an Estate agent that didn’t sell, so they decided to try selling it through auction and it was successfully sold. Strathmore Drive in Crosby a lovely 3 bed home with lots of potential, was snapped up by someone who will be the owner/occupier, so not just investors use auctions!

Residential investment properties ready for immediate occupation or in need of modernisation/redevelopment were as popular as ever, with the first 5 Lots offered all selling for in and around £20,000 over their guide prices!

For example, the first Lot was a 3-bed in L14 which is in need of a full refurb and was listed with a guide price of £70,000, selling for £89,000.

Another 3-bed in L14, although this one recently refurbished, was listed at £110,000 and sold for £132,000 – reinforcing the reason more and more people are buying at auction. Property auctions often enable people to own their own homes, but they can also assist in generating a source of income by developing and selling houses.

Properties seemed to sell well in all areas of the City but a noticeable demand was seen for those commutable to the City, hospitals and Universities.

Another bidding war was seen with Bellmore Street in Garston, a 2-bed mid-terraced property in need of refurbishment, which was listed for £85,000 and sold for £120,000.

One of the best value-for-money sales at this auction was a 1-bedroom flat on the popular South Drive area of Wavertree, which was listed at £15,000 and sold for just £24,000.

Properties outside of Liverpool were also selling fast, especially those around the south coast.

The show stopping Lot however had to be a public convenience in Devon with a view over the River Dart. These public toilets were listed with a guide of just £25,000 and sold for £116,000 over this, for £141,000.

Cathy Holt Associate Director commented:

“We cant wait to see what the buyer will turn this into! I’m also delighted with how our auction went this month, given the uncertainties around the up and coming budget.”

Their next auction will take place in October.

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