Sutton Kersh Auctions Sells Six Million at their second Auction of the year
The end of the financial year and the start of spring always see Sutton Kersh have an action-packed auction.
This year, the team sold 6 million pounds worth of property, and considering the current climate, it is a pretty impressive result. This brings their year-to-date figure to just under £12 million in sales.
A combination of vacant residential properties, particularly these two in South Liverpool, captured the spotlight.
7 Manvers Road in the popular suburb of Childwall, L16 received strong interest both prior to the auction and on the day. It had a guide price of £135,000 and sold for £186,000.
This 3-bed semi was a blank canvas, stripped back to brick, ready for someone to make it their own. Once modernised would make excellent family accommodation, or alternatively it could be let out with a potential rental income of approximately £15,000-£18,000 per annum. The property also benefits from planning permission to extend to provide a double extension to the side and a single storey, so was easy to see why this so appealing.
49 Bryanston Road, Liverpool, L17, Sold for £256,000, £66,000 over its guide price. This 3-storey 3-bed mid-terrace house was ready for immediate occupation or ideal for investment, with a potential rental income of approximately £16,800 per annum.
There is also scope to use as a 4-bedroom and a potential student let, subject to the necessary consents, so it will be interesting to see what the buyer does with this one too.
Associate Director Cathy Holt commented: “With the rise of rates and recent goings on worldwide we noticed that buyers are a lot more cautious, but nonetheless we were still able to achieve good results in this month’s auction and will probably sell the outstanding Lots over the next few weeks”.
“Investment in properties within Liverpool and its surrounding areas is still a popular choice for both seasoned investors and first time buyers. We have seen an increase in the younger generation who are keen to get ok the property ladder buying through auction, so will be interesting to see if this trend continues throughout the year. Our next auction will take place on 21st May” adds Cathy.
