Protesters in Liverpool forced Venmore Auctions to abandon the sale of one of its properties at its September sale amid accusations that investors could evict families and replace them with higher-paying students.
Members of renters union Acorn disrupted Venmore’s 3 September sale at Liverpool Town Hall, protesting that the company was marketing two properties in the Kensington Fields area of Liverpool to landlords looking to maximise profits by replacing families with students who would pay higher rent.
In its catalogue, Venmore wrote that a two-bedroom mid-terrace property occupied by one of the Acorn members and her family had “the potential to let to students at £100 per room per week”, which would increase the rent from its current level of £5,040 a year to £10,400 a year.
In the face of the disruption, the property, which was marketed with a guide price of £65,000, failed to sell but, according to the agent, is currently available at £70,000. A second property that was also the subject of Acorn’s protests was sold on the day to a telephone bidder.
“Our members in the auction room made so much commotion that the sale of Kate’s home had to be abandoned,” Acorn Liverpool tweeted after the auction. “Acorn Liverpool will be keeping a very close eye on Helen’s new landlord and will be ready to defend our member robustly should the need arise.”
Venmore sold 31 of the 45 lots offered, equating to a success rate of 69%, raising a total of £3.34m.
When contacted by EG, Venmore was not immediately available to comment.
Venmore Auctions’ next sale will be held on 17 October at Liverpool Town Hall.
