Sutton Kersh Summer Auction!
On Thursday 14th July Sutton Kersh Auctions held their fourth auction of the year, marking the halfway point for the business.
The team sold over 30% of their Lots prior to the live streamed online event, equating to a sales value of over £3 million, and including the auction the total came to £7.2 million worth of property. This brings their half year sales to a total of £37 million through 310 properties sold at 4 auctions. Cathy Holt, Sutton Kersh Auctions, Associate Director said ‘Properties are still attractive investments for many. We have seen a rise in first time buyers who are looking for project to be a home to make their own, which in most cases is cheaper for them too.’ This auction featured some plots of land in addition to some commercial, mixed use, investment and vacant residential properties. The first Lot of the day sold for £15k over its guide of £45k. This was a great investment opportunity for a two bed “doer-upper” on Nimrod Street in L4, especially as it comes with planning permissions for a single rear extension. Lot 3 was a good sized three bed semi-detached residential investment property in Aintree and it sold for £101k, which was £30k over its guide price. Not too far away in Fazakerley, Lot 6, another three bed semi-detached property that is in need of refurbishment, also had a guide of £70k and sold for £111.5k. Bidding was consistently strong throughout the auction with high demand for the terraced and semi-detached properties that require a scheme of refurbishment and modernisation to make them suitable for occupation, resale or investment. A perfect example of this was Lot 9 on Merlin Street in L8; a two bed mid-terraced property in need of a full upgrade and refurb. When the works are completed it has the potential to be rented out for £7800 a year. It’s guide price was £75k but it ended up selling for £120k. ‘Despite buyers appearing to be a bit more cautious at the moment, a national trend, there certainly was still demand which resulted in us selling 86% of the Lots we offered. Liverpool is still a property hotspot for investors due to the universities, job opportunities and the tourism, leisure and hospitality industry, not to mention the nightlife we offer too. We have also out performed our nearest local competitor by selling 200 more properties than them in the same time period this year, so I’m delighted with how we are doing in the first half of 2022’ comments Cathy Holt.
Sutton Kersh Auctions will be holding their next auction on 8th September 2022.