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Another record turnout for Sutton Kersh’s September auction

Monday 28th September 2015

Written by Matthew Lane

Sutton Kersh’s September auction, held at the Crowne Plaza in Liverpool, witnessed yet another record turnout. Over 200 people attended, with more than 70% of the lots sold so far. 
 
The auction, which included a mix of residential and commercial property, saw some properties selling for double the recommended guide price.  There was strong bidding from both the residential and commercial sectors, further highlighting the current strong performance of the property market. 
 
Some of the standouts included Lot 69, a five bed terrace on the popular Sheil Road in Kensington. With a guide price of £55,000, it sold for £106,000. Similarly, Lot 72, a town house off Princess Drive, had a guide price of £35,000 and sold for £60,000. 
 
Elsewhere, 18 Rock Park, a derelict Grade II detached Georgian property in Birkenhead, sold for £35,000 above the guide price. Planning permission has already been received to turn the property into six two bedroom flats. 
 
Lot 58 was another highlight. A large three storey detached house in Princes Park which has been transformed into 12 flats, it had a guide price of £400,000 and sold for £480,000. It is expected to generate a yearly rental income of £60,000, with potential gross returns of 12.5%.
 
“We've seen consistent high attendance at property auctions this year and have now sold 347 properties to date in 2015, generating proceeds for our clients of over £21.5 million,” Cathy Holt, head of auctions at Sutton Kersh, said. “The residential sector has seen strong levels of interest and investment, with a number of the lots on offer during auction sold well above the recommended guide price or even sold before the auction has taken place.”
 
Sutton Kersh is now inviting entries for its next auction which takes place on Thursday 29 October. The closing date for entries is Friday 2 October and the company recommends instructing early to take maximum advantage of the marketing campaign which runs before each auction.
 
The venue for the October auction will be Marriott Hotel, 1 Queen Square, Liverpool. 
              

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