Sutton Kersh auction surpasses the £4m mark

Auctioneer Sutton Kersh managed to generate more than £4.1m in proceeds with its most recent property auction.

The Liverpool-based company reported that 70% of the 85 lots on offer were sold, including 19 prior to the auction. Now, the firm is expecting the final proceeds total to be even higher.

Sutton Kersh’s head of auctions, Cathy Holt, commented: “We are already receiving numerous enquiries for lots which just failed to sell on the day. We will discuss any realistic offers with our vendors and advise them on the best course of action.”

The lot that performed best was a residential investment located on South Drive in the Wavertree area of the city. While the property had a guide price of £250k plus, in the end it sold for £290k. Converted to offer 12 letting rooms, the semi-detached three-storey building would generate an annual income of more than £45k when fully let.

Another highlight of the auction, which was held at the Marriott Hotel in the city centre, was the sale of a property in the Wirral town of Wallasey that comprised ground-floor retail space with two flats above it. While the property’s guide valued it between £65k and £70k, it eventually sold for £102k.

Meanwhile, a Walton property capable of generating an income of £4,030 per annum sold for £49k, surpassing its £30k to £35k guide price. Elsewhere, a four-bedroom terrace in Liverpool’s Stoneycroft area sold for £83k, despite having a guide price of £65k plus.

The next Sutton Kersh auction is scheduled for September 10 and will be held in the Crowne Plaza on the Liverpool waterfront.