SIX Barrow Island flats which went under the hammer in an online auction have not sold after failing to reach their reserve price.

Properties in Steamer Street and Schooner Street in Barrow Island were up for auction online between Wednesday and Thursday with John Pye Property, with guide prices ranging from £20,000 to £25,000.

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Despite all six properties receiving bids, the highest being £21,500, a spokeswoman from the auction said they did not meet the necessary reserve price to sell.

The rental properties have an average gross yield of around 16 per cent.

Speaking before the sale, Richard Reed, head of John Pye Property, said: "These apartments are great, readymade investment opportunities. Many of them have been refurbished not too long ago, and all have tenants."

It is believed the properties will remain for sale and could be put up for another auction in the future.