News
July 14, 2010
SMITH AND SONS SALES EXCEED ONE MILLION POUNDS AT LATEST AUCTION
Leading property consultants Smith and Sons, has raised over £1million at its latest property auction. Held at the Village Hotel in Brombrough, following the late withdrawal of several lots prior to the sale, 22 lots were available comprising a broad mix of commercial and residential development opportunities across Merseyside. Small terraced houses in need of refurbishment and repair continued to attract keen interest from developers and investors. A large semi detached house, converted into floor flats, on Silverdale Road in Oxton sold for £220,000 whilst a two-bedroom apartment in the Cliff, Wallasey, reached a sale price of £67,500. Negotiations continue post auction with a number of sales expected to be confirmed over the coming days. Chris Johnson, managing partner at Smith & Sons said: “The property market is still faced with an unwillingness by banks and financial institutions to lend. There are some outstanding opportunities for investors at the moment, however, raising the necessary capital continues to be a huge issue. “Following a change in government and the new budget, the market remains uncertain and I feel that buyers are waiting to see how things settle in the coming months. We anticipate stronger interest in our next auction in September and have already taken some interesting lots.” Full details can be seen on Smith and Sons website at www.smithandsons.net by following the auction link or alternatively ring 0151 647 9272 to receive a catalogue.
