Sutton Kersh’s Spring Auction sells £7.2 million of property
Sutton Kersh Auctions held their second auction of the year on Wednesday 5th April. The team sold over £2.9 million worth of property prior to the auction, which equated to roughly 25% of the lots offered.
As a result of keen buyers and a great mixture of available Lots, a further £4.3 million was sold on the day, bringing their total spring auction sales to £7.2 million so far.
Cathy Holt, Associate Director of Sutton Kersh Auctions said:
“With the rise in interest rates last month and people’s perception of the property market we weren’t sure how the buyers would respond, but we have been pleasantly surprised with the interest received on Lots, both pre-auction and on the day, resulting in a high percentage of Lots sold. It reinforces what we have always believed; that if the property is priced right we will more than likely find a buyer for it!”
There were a few Lots that really stood out in this auction such as Lot 7, a three-bed maisonette flat on Thornside Walk in the popular area of L25, South Liverpool, which had a guide of just £37,000 and sold for a very reasonable £51,000.
L4, L8 & L20 postcodes have been performing well over the last 12 months at Sutton Kersh Auctions and this was again the case. For example, Lot 30 on Richard Kelly Drive gained a lot of interest which resulted in it selling for £120,000 which was £25,000 over it’s guide price. Lot 10 in L8 was a great investment opportunity with it being three-bed terraced property already let by way of a Regulated Tenancy producing £4,800 per annum. It was listed for £50,000 and sold for £71,500. Lot 37 on Shelley Street in Bootle sold for £78,000, which was £18,000 over its guide price and has a potential rental income of approximately £6,660 per annum.
A detached three-bed property in need of a full scheme of refurbishment, on Elmwood Road in Northwich in Cheshire, generated a national interest and after a lengthy bidding war ended up selling for £59,000 over its guide price.
Cathy continues:
“There is still a very high demand for three- bed properties which are suitable for residential occupation within Merseyside and Cheshire, as it is more often than not a more affordable way to get on the property ladder.”
Sutton Kersh’s next auction will take place on Thursday 25th May 2023.
READ MORE:
