Member Article

Liverpool's Sutton Kersh brings in over £5m at latest property auction

Sutton Kersh, a Liverpool-based estate agent, generated proceeds of over £5m at its latest property auction and, with strong interest reported in stock still available, the final figure could reach £5.5m.

The sale at the Crowne Plaza hotel in Liverpool was the biggest single day sale in the city for almost two years and attracted a large attendance made up of investors, owner-occupiers and developers.

Highlights included a substantial three storey property on Croxteth Road in Liverpool which sold for £560k, having been offered at a guide of £400k plus on behalf of a housing association. The vacant property is arranged as 13 self-contained flats and could produce annual rental income of over £65,000 when fully let.

Housing association stock proved popular throughout the sale with all nine lots in this category snapped up for prices which exceeded the advertised guides.

Cathy Holt, joint Head of Auctions at Sutton Kersh said: “’Housing association properties are invariably priced to sell and the majority already benefit from double glazing and central heating which makes them ideal for investment purposes.”

Commercial stock included a vacant building on Park Road in Tuebrook, previously used as a car showroom and garage premises, which sold for £115k off a guide of £90k plus. A commercial investment on Oxton Road in Birkenhead achieved £54,000 off a guide of £30k to £35k.

Sutton Kersh is now inviting instructions for its next auction which takes place on the revised date of Wednesday 3 June at the Titanic Hotel, Stanley Dock, Regent Road in Liverpool. The catalogue closes for entries on 8 May.

This was posted in Bdaily's Members' News section by Ellen Forster .