Auction Property Details

23-25 Grange Mount, Prenton, CH43 4XN

Lot 47 - 28.05.2015

Available £275,000

FOR SALE BY PUBLIC AUCTION THURSDAY 28TH MAY 2015 AT LIVERPOOL TOWN HALL

23-25 GRANGE MOUNT, OXTON, CH43 4XN

INVESTMENT

WHY BUY?
Mixed commercial/residential
Tenanted car Wash
10 x one bedroom flats
Good rental location

DESCRIPTION
This is a large mixed use property that has a tenanted car wash unit to the front getting £350pcm rental income and a 3 storey residential block to the rear. There are 10 x one bedroom self contained flats spread over 3 storeys. At present only 2 are tenanted and the rest require some repair and decoration prior to letting. There is plenty of potential to add value to the property and after a scheme of works if each flat was rented for £350pcm then the potential rental income fully let and including the commercial unit would be £46,200pa. If the property was purchased at £250,000 the gross yield return would be 18.5%.

Venmores have not inspected all of the property but have been informed by the vendor that each flat contains one bedroom, shower room, kitchen/living room. There are 2 flats to the ground floor, 4 flats on the first floor, and 4 flats on the second floor. The flats to the ground floor have their own front door with the other 8 flats sharing a communal door with stairs to all floors.The car wash has a large open drive way with two exits, covered service area, small offices, wc.

LOCATION
Grange Mount is situated in the popular Oxton area of Birkenhead less than one mile from Oxton village with all its popular shops, bars and restaurants and just a short walk from all the amenities of Birkenhead centre. The nearby A41 gives easy access to the motorway network and tunnel links directly to Liverpool city centre.

Price Information

*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.