Auction Property Details

The Clachan Public House, 184-186 Smithdown Road, Liverpool, L15 3JR

Lot 7 - 24.07.2013

RESERVE £270,000

FOR SALE BY AUCTION 24TH JULY 2013 - THE CLACHAN PUBLIC HOUSE, 184-186 SMITHDOWN ROAD, L15 3JR

COMMERCIAL INVESTMENT/ DEVELOPMENT OPPORTUNITY

WHY BUY?
Excellent investment/development opportunity
Planning granted for 16 bed student/HMO accommodation
Potential gross rental in excess of £69,000 p.a.
Already generating £20,800 p.a. income
Great location on Smithdown Road

DESCRIPTION
An excellent development/investment opportunity comprising of ground floor licensed premises with substantial self contained accommodation above over two floors with planning permission granted to convert to a 16 bed HMO/student accommodation within two self-contained units. The Clachan public house occupies the ground floor and has been trading for 4 years currently paying an annualised rent of £20,800.
The estimated gross rental income for the student accommodation would be in excess of £49,000 providing an excellent potential yield. Plans for the conversion can be viewed at our City office or through the Liverpool City Council website planning application No: 13F/0218.

Note: The current tenant of the Clachan Public House is holding over at a rental of £20,800 per annum with all rent up to date and has expressed an interest to sign a new lease subject to similar terms. Prospective purchasers can be supplied with proof of rent payment schedule and can make their own enquiries with the existing tenant regarding a future lease.

LOCATION
Situated on the corner of Gresford Avenue in the heart of the Wavertree student rental area close to all local amenities and the popular bars and restaurants on Allerton Road. Excellent public transport links giving easy access to Liverpool city centre and all Universities.

ACCOMMODATION
Ground Floor: Clachan Public House comprising, bar area, kitchen, toilets
First & Second Floors: Residential accommodation

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.