2nd MAY AUCTION RESULTS
Smith and Sons spring auction held at The Village Hotel in Bromborough offered 33 lots and once again achieved impressive sale prices with several being considerably above the guide price.
Once again properties in need of refurbishment attracted a good level of interest from builders and investors with a substantial property in Victoria Road, New Brighton with planning for 8 flats selling before auction due to the level of interest shown.
A range of two and three bedroomed houses throughout the Wirral requiring a programme of modernisation saw strong bidding and a number of residential investments sold with yields in the region of 15%.
A large property in Thorburn Road, New Ferry currently in 3 flats but with potential to convert and upgrade and with views over the river sold for £153,000 against the guide price of £120,000 and a refurbished one bedroomed cottage in School Hill, Heswall sold for £149,000 against the guide price of £110,000.
Chris Johnson auctioneer at Smith and Sons, commented “once again we have seen strong interest for properties which are realistically priced and which are either producing good investment yields or are capable of refurbishment either for owner occupation, onward sale or investment”.
The auction resulted in over £2.3 million worth of sales with a success rate of 70%.
Smith and Sons next auction is to be held on 3 July with a closing date for entries of 31 May. For further details or to request a free appraisal please contact Annette Shelly or Hollie Llewellyn on 0151 647 9272 or email email@example.com