Sutton Kersh Auctions held their second auction of the year, which saw them sell £7.5 million worth of property.
This auction was packed with the highly in-demand ‘doer-upper’ type properties, which were understandably snapped up. A couple of highlights include:
Lot 1, a three-bed semi in Huyton, which would make a great investment or home once the extensive refurbishment works were completed, was listed for £100,000 and went on to sell for £143,000.
Lot 3, a two-bed mid-terrace again in need of some work, should make a good investment for the lucky bidder as it has the potential to return £10,800 per annum. This sold for £129,000 which was £44,000 over its guide price.
Lots were particularly popular in the L6 area of Liverpool, with all the properties offered in this area selling and attracting multiple bidders in the process. This highlights the current demand in the market for residential investment properties. Below are some examples.
Located on Low Wood Street there is a two-bed mid-terraced property in need of full cosmetic works, with a potential rental income of £10,800 per annum. It was listed at auction for £85,000 and sold for 52% over guide at £129,000.
Another two-bed mid-terraced property, this one on Gilroy Road, was also in need of a full refurbishment. Once works are completed it has a potential and achievable rental income of around £9,000 per annum. This sold for £77,000 which was £27,000 over its guide price.
A further two lots, both two-bed homes on June Road and both in need of refurbishment, also sold for over their guide price.
Associate Director of Sutton Kersh Auctions, Cathy Holt, commented “Our next live online auction will take place on 20th May and it will be interesting to see what (if any) the recent legislation changes impact the auction industry.”
