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Auction Property Details

155-157 Picton Road, Wavertree, Liverpool, L15 4LG

Lot 18 - 17.05.2017

SOLD FOR £255,000

For sale by auction 17th May 2017

WHY BUY?
2 x large flats
Double fronted retail unit
Part tenanted at £28,880pa
Potential income over £40,000pa

DESCRIPTION
This is a large double fronted property that consists of large ground floor retail unit that has recently been let on a 5 year lease at £10,000pa. 2 x four bedroom flats to the upper floors, both with full HMO licences and fully compliant. The property underwent a scheme of refurbishment over the last few years and the retail unit has been completely fitted out by the tenant. The property benefits from double glazing and central heating to the flats.

The top floor (and attic) flat contains 4 x large double bedrooms, living room, kitchen and bathroom and is part let on a room by room basis of £69 per week. The flat is well presented and would be ideal to let for the next academic year 2017/2018 at rents somewhere between £75-90pppw. The first floor flat contains 4 x large double bedrooms and again this would be ideal as a student let. If both flats were rented at £90pppw on a 48 week academic year they would bring in a total of £34,560pa.

Based on a conservative inclusive rent of £90pppw for the double rooms together with £10,000pa for the retail unit, the property has the potential for a gross annual rental income circa £38,800pa.  

LOCATION
Directly across the road from The Picton Library on Picton Road this property is right by the junction between Wellington and Rathbone Roads. There are numerous shops, restaurants, take-a-ways and bars within walking distance. There are regular buses to Liverpool City Centre and universities from directly across the road with both being just over 3 miles away. There is a large sports complex, Tesco Metro and Asda Superstore within walking distance. 

ACCOMMODATION
Retail unit: Roller shutters, Shop floor, large store area, wc, kitchenette
First floor flat: Entrance hall, Living room, Kitchen, bathroom, 4 x double bedrooms
Second floor (and attic) flat: 3 x double bedrooms, kitchen, living room, bathroom, large double attic bedroom
Outside: Yard to rear

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.