Location
The property is situated in the Edge Hill area, approximately a mile to the east of Liverpool City Centre. It is in a mixed use district, overlooking an area of grassed open space and a retail warehouse to the front and low rise, modern, office buildings to the rear with the immediate surrounding area consist of predominately residential/student housing. Woodside Street is a cul-de-sac leading off Harbord Street, close to the B5178 Wavertree Road, which is a busy single carriageway arterial route leading from the City Centre. There are light industrial / retail warehouse units within close proximity of the property. The main concentration of Liverpool University buildings lies approximately half a mile to the west with national commercial occupiers in close proximity such as Tesco Metro.
The Property
The property is a three storey, purpose built block of 16 self-contained residential apartments - a mixture of 3 and 4 bed, The apartments are let on a room-by-room basis fully occupied by 52 tenants producing a gross income of crica £280,000 per annum. There is a concrete flagged forecourt area between the front of the building and the highway, which is enclosed by high security railings and electrically controlled entrance gates. There is a further narrow walled strip of land between the back of the building and the rear boundary providing an opportunity for extending the existing building or redevelopment.
Accommodation
We understand through internet enquiries one of the ground floor flats and one of the larger flats, which have gross internal floor areas of approximately 64 sq.m and approximately 72 sq.m respectively.
We have measured the site electronically on web-based Ordinance Survey mapping to provide following total surface area of the site:
999.72 sq.m (0.247 acres)
Tenancy Information
We understand that all rooms are let by way of Joint Fixed Term Contract with rental income varying between £5,341-£5,831 per annum, per flat; the equivalent of £109-£119 per week, per room.
Further information available upon request.
Tenure
We understand the property is held Leasehold for the residue term of 999 years commencing 29 January 1999 at a peppercorn ground rent.
Planning
We understand the site benefits planning permission to erect extensions to either side of existing block to provide 16 additional rooms and carry out associated external works under application 19F/2777 which was granted on 03/12/2021.
EPC
A full copies of the EPCs are available upon request.
Council Tax
Interested parties should make their own enquiry of Liverpool City Council on 0151 233 3008 or www.liverpool.gov.uk/council-tax
Price
Offers in Excess of £2,000,000, reflecting a Gross Yield of 14%.
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
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Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own research into the working order of these items. All measurements are approximate and photographs provided for guidance only.
