Auction Property Details

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

Lot 8 - 11.02.2015

SOLD AFTER

FOR SALE BY PUBLIC AUCTION WEDNESDAY 11TH FEBRUARY 2015 AT LIVERPOOL TOWN HALL

155-157 PICTON ROAD, LIVERPOOL, L15 4LG

INVESTMENT

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

DESCRIPTION
This is a large double fronted property that consists of large ground floor retail unit that is currently vacant but previously trading as a Bargain Booze, with 1 x vacant five bedroom flat, and 1 x tenanted four bedroom flat to the upper floors. The retail unit is currently vacant at present and as a shell but is located between two established letting agents and a deli on a busy parade of shops on Picton Road, directly across from the Library. The potential rental income from a retail unit of this size in this area is £8,000 - £10,000, once a small scheme of refurbishment has been carried out.

The top floor (and attic) flat contains 4 x large double bedrooms, living room, kitchen and bathroom and is currently rented to 4 x students at £10,000pa finishing in July 2015. The flat is well presented and would require only minor work prior to letting for the following academic year 2015/2016. The first floor flat contains 3 x large double bedrooms and 2 x single bedrooms and although currently vacant would require minimal works prior to letting. Again this would be ideal as a student let. Should a small scheme of refurbishment and upgrading be undertaken on both flats then the potential rental income could be somewhere between £75.00-90.00 per person per room per week, depending upon the level of finish.

Based on a conservative inclusive rent of £75pppw for the double rooms and £60pppw for the single rooms, together with £7,500pa (FR&I lease) for the retail unit, the property has the potential for a gross annual rental income circa £41,000pa.

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, 3 x double bedrooms, 2 x single 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.