Sutton Kersh are off to a flying start to 2023 with a successful first auction of the year.
The team sold £5 million worth of property prior to the actual live auction. The auction itself was watched by hundreds of people throughout the UK and they sold over £8.2 million worth of property in total, with this figure still rising due to post auction sales.
Cathy Holt, Associate Director, said:
“The demand for residential Lots is still high and once again auctions are proving a popular way for first time buyers to climb onto the property ladder. I believe this is because the total cost of a property and refurbishment could be lower than getting a mortgage to cover a house that is move-in-ready.”
The available Lots included over 40 residential properties, over 60 vacant residential and a mixture of land & commercial properties.
The first Lot to go under the hammer at Sutton Kersh’s first auction of 2023 was a three bed vacant residential house in the popular suburb of L19 in South Liverpool. This property needed modernisation and refurbishment works but would make a great family home, so there no surprise it sold for £156,000 which was £36,000 over its guide price of £120,000.
A three bedroomed mid-town house property in Bootle which is in good condition throughout sold for £114,000 which was £34,000 over its guide price.
The property, located on Southport Road, is currently let by way of an Assured Shorthold Tenancy agreement producing a rental income of £9,000 per annum, making it a great residential investment property.
The vendor was absolutely delighted and said:
“Thanks for all the work you put into the sale of my house at auction today, which is also my birthday – I’m delighted. I wouldn’t have got the amazing hammer price that I did today without the efforts of the Sutton Kersh team. This is the only way I will sell any of my houses in the future.”
Lot 52 on Emery Street in L4 also gained a lot of interest on the day which resulted in it selling for £78,000, further highlighting the demand and popularity of residential and investment properties throughout Liverpool.
Another three bed mid-terraced property, this one located in L6, prompted a strong bidding war between interested buyers. This Lot was in need of a full upgrade and refurbishment and had a guide of £60,000 but sold for £99,500.
Their next auction will take place on 5th April.