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
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.
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.
The Land Registry website indicates Freehold Title.
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.
Communal landing area providing access to en-suite bedrooms 1-8, stairs to second floor, communal lounge leading to rear kitchen and laundry room.
Landing area, providing access to 7 en-suite bedrooms and fitted kitchen.
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’.
The ground floor retail / offices have a Net Internal Area in the order of 125 m² (1,358 ft.²).
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 call 0800 1303341 or email firstname.lastname@example.org
The latest published guide price is shown on the website. The reserve price is the minimum price at which the property can be sold. The guide price given is the minimum price at which the seller might be prepared to sell on the date on which the guide price is published. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. All guide prices are quoted "subject to contract". The reserve price may be greater than the previously quoted guide price. The guide price will be published online immediately it becomes available. Lots may be sold or withdrawn prior to auction. Auction properties are subject to a buyer’s premium of a minimum £2,000+VAT (£2,400) and Estate Agency properties are subject to a buyer’s premium of a minimum £1,000+VAT (£1,200). Any commercial sales are subject to a buyers premium of a minimum £3,000+VAT (£3,600) or 3%+VAT (Whichever is the greater). Each property listing provides the individual Buyers Premium, but for more Information on a properties Buyers Premium and any other related fees please feel free to speak to a member of the team.