Press Room

‘‘Kersh launches London firm’’

Daily Post

LIVERPOOL property group Sutton Kersh is taking its successful auction operation to London. Sutton Kersh Auctions has been running monthly events in Liverpool city centre for the past four years, regularly raising millions of pounds from the sale of both commercial and residential properties.

Now managing director James Kersh believes his model can be transferred to other parts of the country and is teaming up with freelance auctioneer Andrew Binstock, who is based in the capital, to launch his first auction venture outside of Liverpool.

Mr Binstock, who will be a 50% partner, has been conducting auctions for Kersh in Liverpool this year and will help spearhead the southern venture, which will be called Sutton Kersh Binstock.

Mr Kersh told the Daily Post: "I was introduced to Andrew who was initially looking for a consultant auctioneer's role, and he has been doing that here in Liverpool for the past few months.

"We got talking and one thing let to another and we both decided we would like to have a crack at the London market. It will concentrate more on the home counties market rather than central London."

Mr Kersh added he believed that if the operation was successful then it could expand to other areas of the UK.

"I think we have come a long way in the four years we have been running auctions in Liverpool," he said. "We have created a very good model in a short period of time and I think we now have a good understanding of how the market works."

In February 2004, in the wake of Liverpool's Capital of Culture award, more than 1,000 people attempted to get into on of Kersh's auctions at the Adelphi Hotel, where a bidding frenzy ensued. Many found themselves locked outside.

Mr Binstock said the main driver behind the decision was quite simply the revenue potential.

He added: "The London and home counties property market is very strong and we can typically expect properties to sell for four or five times the value they would do in Liverpool."

"The strange thing as well is that where we are setting up there is hardly anyone doing this."