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Available

New Build At Wavertree Road, Liverpool, Merseyside, L7 1PQ

  • Mixed Use New Build Investment
  • Current Rental Income £50,000 Per Annum
  • Potential Income Approx £70,000 Per Annum
  • In Close Proximity to Liverpool`s Knowledge Quarter & City Centre
  • Potential Net Initial Yield Of 12.85% (After Purchaser Cost Of 4.78%)

Investment Opportunity

Location
The property is located fronting onto Wavertree Road (B5178) close to its junction with Kinglake Street and in close proximity with Edge Lane (A5047), the main arterial route linking the M62 with Liverpool City Centre which is approximately 2 miles west of the subject property. The immediate surrounding area consist of predominately residential/student housing, with national commercial occupiers in close proximity such as Tesco Metro and Taskers Home Store to name but a few. The nearby knowledge quarter sees plans for the 450 acre site to be redeveloped providing space for creative industries such as, science technology, education and health at a cost of £2 billion over the next 5 years.

The Property
The subject property consists of a double fronted three-storey new build end terrace of traditional brick construction, comprising a ground floor commercial unit, two self contained 4 bedroomed apartments fit to an HMO standard benefiting from kitchen/diner with fully-integrated appliances, shower room, 2 WCs, part carpeted and part laminated flooring throughout and double glazing. The ground floor is currently fit out and trading as a pizzaria, benefiting from concrete flooring throughout, three phase electricity supply and a substantial basement spanning the entire ground floor with a head height of 5.2 metres. Externally the premises benefits from an aluminium framed frontage with the added security of electric roller shutters.

Accommodation
We have measured the premises in accordance with the RICS Code of Measuring Practice (6th Edition) to provide the following approximate areas and dimensions:-

Basement
Net Internal Area: 102 sq.m. (1,100 sq.ft.)

Ground Floor
Net Internal Area: 121.4 sq.m (1,306 sq.ft)

First Floor
Not Measured

Second Floor
Not Measured

Tenancy
We understand the ground floor is currently let by way of a new effectively Full Repairing and Insuring Lease for a term of 5 years from August 2020 at a rent of £20,000 per annum.
The first and second floor is currenly occupied on an informal basis by way of serviced apartments, currently producing £2,500 pcm.

Price
£519,950 for the Freehold interest.

Rates
Interested parties should make their own enquiry of Liverpool City Council`s Rating Department on 0151 233 3008 or www.voa.gov.uk/business rates.

EPC
A full copy of the EPC is available upon request.

Viewings
Strictly by appointment via the sole agents SK Real Estate (Liverpool) Ltd - Tel: 0151 207 9339 Contact: Tom Pearson (tom.pearson@skrealestate.co.uk)




Listed By:

SK Real Estate
2 Cotton Street,
Liverpool, L3 7DY
Tel: 0151 207 9339
Email: commercial@skrealestate.co.uk

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