SMITH AND SONS ACHIEVE 75% SUCCESS RATE IN MAY AUCTION
Wirral property auctioneers, Smith and Sons, has achieved strong sales figure at its latest property auction. 75% of the lots sold and over £2.3 million pounds was raised.
The online sale offered a broad range of residential and commercial properties, with fierce bidding on several lots resulting in many prices exceeding the expected guide.
A commercial building in Wallasey, used as an MOT and tyre centre attracted over 120 bids and sold for £232,000 against a guide of £130,000. Two period properties in Birkenhead comprising 13 self-contained apartments and producing a rental income of £56,225 per annum, sold above the guide price of £550,000 prior to auction with several investors expressing interest.
Investment properties proved incredibly popular with purchasers from throughout the U.K. looking to strengthen existing rental portfolios and bidding fiercely for terraced and semi-detached properties in popular residential areas throughout Wirral.
Chris Johnson, Auctioneer at Smith and Sons commented: “Again, we’ve seen strong results from the online auction. We had some great lots, sensibly priced in good locations, and that has inevitably attracted a lot of interest.
“The market remains buoyant and these results show that interest in property is in no way waning despite wider economic difficulties. We are already inspecting properties for our July sale and vendors with investments or properties for refurbishment should seriously consider this method of sale to ensure the best price is achieved following competitive bidding”.
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