INVESTMENT PROPERTIES SNAPPED UP AT LATEST SMITH AND SONS PROPERTY AUCTION
Investment properties attracted strong bidding once again at Smith and Sons property auction with 60% of lots now sold.
Smaller properties including terrace homes and flats were snapped up by buyers largely keen to improve and let, adding these to existing portfolios.
Star lots included an end of terraced house in New Ferry that sold for £70,500 against a guide of £45-50,000 whilst a two storey commercial building in Garston sold for £80,750 with a guide of £45-55,000. A number of commercial and residential buildings of a similar size and scale also realised in excess of the guides with strong bidding throughout.
Chris Johnson, Auctioneer at Smith and Sons commented: “This was our first auction of 2022 and we’re pleased to say its produced a solid set of results. We are not yet seeing the levels of activity that we experienced during 2021 when incentives such as zero stamp duty generated a rush of investment, however, property will of course inevitably attract good interest.
“We are already building the catalogue for the Spring auction when typically activity in the market builds and we are already accepting lots.”