Sutton Kersh auction generates over £4.6m

Amy Loddington
16th February 2015
Graham Penny

Merseyside auctioneer Sutton Kersh sold 75% of the lots offered at its first auction of the year, generating proceeds in excess of £4.6M.

The sale at the Marriott Hotel in Liverpool attracted a large attendance including investors, owner occupiers and developers. Competitive bidding helped a number of lots exceed their advertised guide prices.

Cathy Holt, Joint Head of Auctions at Sutton Kersh said:

"It was good to be back in the auction room after the long winter break .We had assembled a strong catalogue to kick off our 2015 auction campaign which offered a wide variety of opportunities to suit all budgets.

"20 lots sold prior to the auction which contributed to the strong overall performance and with plenty of post-sale interest in stock still available the figures are likely to increase."

Highlights included the very first lot of the day, a vacant three storey commercial property in Birkenhead combining retail and office space, which achieved £132,000 off a guide price of £100,000 plus.

However, the stand out performer was a residential investment in Liverpool’s Georgian Quarter. The property on Huskisson Street is arranged as five self-contained flats producing annual rental income of £27,000. It was finally knocked down for £374,000 to an investor in the room who fought off two determined telephone bidders. The guide price was £300,000 plus.  

Elsewhere, a vacant three bedroom mid terrace on Ling Street in Liverpool L7 achieved £64,000, well above the advertised guide of between £40,000 and £45,000.

Meanwhile, a residential investment in the Maghull area of Liverpool producing rental income of £3,900 per annum sold for £87,500. The three bedroom property on York Road had been offered at a guide of £75,000 plus.

Related articles
More from Auctions
Latest from Financial Reporter
Latest from Commercial Reporter