Auction news: Sutton Kersh; Smith & Sons

MERSEYSIDE auctioneer Sutton Kersh sold 81 (78%) of the 104 lots offered at its first property auction of the year, generating £6.2m.

The first lot of the day, a mixed-use development opportunity on Pomona Street off Mount Pleasant, sold for £244,000 from a guide of £140,000.  

Meanwhile, the former Stoneycroft Church on Greenfield Road in Stoneycroft which was offered at a guide of £140,000 sold for £232,000.

Auction manager Cathy Holt said: “This was a fantastic start to our auction year. The room was exceptionally busy throughout the day and there was healthy competition and a real intent to buy for the majority of lots.

“The appetite among buyers shows property remains a key investment vehicle. Vendors with stock to sell quickly need to consider the auction route very seriously and turn this positive sentiment to their advantage.’   

Sutton Kersh is now inviting instructions for its next sale which takes place on April 9.

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SMITH and Sons has 30 lots which will be held at the Village hotel in Bromborough on the February 25.

Lots include residential investments in Birkenhead and Wallasey, and retail units.

Auctioneer Chris Johnson said: “There are some rare and interesting lots available at realistic guides. Mainly within Wirral, this auction offers something for almost everyone from the experienced investor to the first time buyer.

“This is our first auction as we revert to our original Smith and Sons brand and resume our operation in house. The established Smith and Sons brand has encouraged many buyers and sellers to use our auction house as their preferred route to market and we look forward to building on this momentum into 2014.”