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£450,000

15 bedroom block of apartments for sale

Picton Road, Liverpool

£450,000

15 bedroom block of apartments for sale

Picton Road, Liverpool

Description

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Property features

  • Fantastic Potential HMO and Commercial Opportunity,15 Rooms with En-Suites,Commercial Unit on Ground Floor,Bio Mass Boiler,22% Potential Rental Yield,41% Discount from valuation

Nearest stations

Wavertree Technology Park (0.4mi.)
Edge Hill (0.9mi.)
Broad Green (1.3mi.)

Nearest schools

school icon  Assess Education (0.1mi.)
Good
school icon  Heygreen Primary School (0.2mi.)
Good
school icon  Wavertree Church of England School (0.3mi.)
Good

Property description

Going to Auction with Brighton & Beck is this fantastic development within the sought after locale of Picton Road, Liverpool. The property comprises of 3 Victorian, 3 storey, mid-terraced buildings, which have been amalgamated to comprise ground floor retail / office accommodation. The upper floors provide a 15 bedroom potential house of multiple occupation (HMO) (subject to consent).
The full development can potentially offer a combined rental income of £106,900 (including estimated Bio mass kick back). Giving an outstanding overall yield on full occupancy of 18.6% on Guide Price

Location;
The property is located in the Eastern Liverpool suburban residential area of Wavertree, fronting Picton Road, which is a tertiary retail pitch, approximately 5km east of Liverpool city centre.

Market Conditions;
The market for mixed commercial and residential investment properties such as the subject is relatively buoyant in Liverpool at present, with evidence of value stability.

Tenure;
The Land Registry website indicates Freehold Title.

Ground floor;
Entrance onto front left office, with inner hallway leading to mid-positioned office, providing access to rear office and WC, kitchenette and emergency escape door.
To the right of the front office, there is interconnecting access leading to further office space, with a doorway leading to the rear ancillary ground floor accommodation of the potential HMO.
To the right is a further inner hallway, to which there is a front office, rear right shower room / WC and rear left fitted kitchen.

First floor;
Communal landing area providing access to en-suite bedrooms 1-8, stairs to second floor, communal lounge leading to rear kitchen and laundry room.

Second floor;
Landing area, providing access to 7 en-suite bedrooms and fitted kitchen.

Externally;
The property is pavement fronted to Picton Road and Rathbone Road, with an enclosed rear yard area, providing access to first floor via fire escape and ‘plant room’.

Retail
The ground floor retail / offices have a Net Internal Area in the order of 125 m² (1,358 ft.²).

HMO
The ancillary ground floor part of the potential HMO extends to approximately 20 m² (250 ft.²).

The property benefits from connection to or proximity of all mains services including water, drainage, electricity, gas and telephone.
The property is heated and served by a Bio Mass boiler*, which is located at ground floor level to the rear of the building, with external access only.
The property is fitted with a full hard wired fire alarm and smoke detection system, with emergency lighting.

*We are advised and assume that the Biomass boiler serving the entire building is subject to a “Government Green Deal” agreement whereby, for a term of 10 years, the owner will receive an RPI Index Linked Rental of £14,500 per annum. This must be confirmed by your Solicitors.

Overall the combined rental return on the freehold potential HMO & Retail Unit is £92,000 (a potential £106,500 with the Bio Mass Boiler)

Commercial Valuation by Hardie Brack Chartered Surveyors
Market Value (Investment)- £925,000
Market Value (Vacant Possession)- £800,000

Full details and Legal Pack are available upon request. For more information please [use Contact Agent Button] or [use Contact Agent Button]

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Map

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Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Street view is not available at this location

Floor plans

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Property reference BB6326. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Brighton & Beck - East Kilbride. Please contact the property advertiser directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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