TWO OF Merseyside’s biggest property auction houses are reporting sales of £4.4m-plus from their latest events.

Liverpool-based Sutton Kersh held its latest auction at the Marriott Hotel, in the city centre, where 62% of the 54 lots on offer were sold, generating receipts of £3.2m.

Birkenhead property firm Smith and Sons said its auction at the Village Hotel in Bromborough saw transactions generating more than £1.2m.

The most high-profile lot at the Sutton Kersh auction was a derelict pub in Liverpool city centre which featured a giant rat painted by the famous graffiti artist, Banksy.

The Berry Street building had a guide price of £70-£80,000 – but bidding by four potential buyers pushed the eventual sale price up to £114,000.

A three-storey residential property in Hartington Road, Toxteth, sold for £229,000, more than double its guide price of £110,000.

James Kersh, director of auctions at the firm, said: “The Banksy pub obviously stood out as the star lot of the day, but there were many lots that exceeded their guide prices. Investors are returning with a determination to buy and reduced stock levels will help to drive prices back up.” Chris Johnson, of Smith and Sons, was delighted with the £1.21m generated by his Wirral event.

He told LDP Business: “We were delighted to see the number of people who attended the February auction.

“This was a huge increase since the November sale of 2009, and gave a strong indication of a growing return in interest to the market. There was a greater interest in homes requiring upgrading and commercial investment opportunities.

“Interest in the market is definitely moving up. However, the issue of lending is still preventing the market moving forward as quickly as it could.”