Auction house set to hit £40m milestone
SUTTON Kersh looks set to sell close to £40m of property during 2015, pointing to a sturdy recovery in the Liverpool City Region market.
So far this year the auctioneers have sold more than £33m of property with one auction left, on December 10 which starts at noon at Liverpool’s Marriott Hotel.
Cathy Holt of Sutton Kersh said said: “The figures for property sales this year point to a confident market, with lots of properties changing hands and considerably more investment in property during 2015.
“So far this year we’ve sold 415 properties, and with one auction left to go we look set to reach a total of £40m in property sales.”
“Our final auction of the year has more than 90 lots, so it looks set to be another big auction to end the year. There are some really stand out properties in the auction, including a stunning period property of 11 self-contained apartments, in Liverpool’s Mossley Hill area and a mixed use commercial and residential building on Exchange Street East, offering great rental returns.”
Holt predicts that bidding will be particularly fierce on the Mossley Hill property, which has a guide price of £700,000. A substantial semi-detached property currently providing 11 self-contained apartments, benefiting from central heating, double glazing, large front garden, sun house and off road parking.
With a guide price of £450,000, Exchange Street East is a Grade II listed investment property, currently producing £42,000 per annum in rental income, with potential to increase to over £50,000 per annum.
The property lies within a conservation area in a unique building and comprises a ground floor retail unit together with three newly refurbished self-contained flats to the ground floor. Also, to the lower ground floor, which has recently been refurbished, are several offices suitable for rental purposes or possible residential conversion.
