Property description

Address Properties are delighted to offer for sale this newly renovated mixed use investment property in the popular Aigburth area. The property, which is currently undergoing a comprehensive refurbishment ready for August 2014, will comprise of 3 separate settable units. One five bedroom HMO, One 6 bedroom HMO and a commercial unit on the ground floor.
Both HMO units are completed to a high specification designed for the young professional market . All bedrooms are spacious double rooms and both apartments include a spacious living area, modern fully fitted kitchen and two bathrooms each. They are both fitted with gas central heating and double glazing. All work is being carried out by Build Maintenance.


Located on a corner plot on the bustling Aigburth Road directly opposite Lark Lane, this property is ideally situated for students or young professionals. The main road provides a variety of local amenities, including shops cafes and supermarkets all within easy reach. It also provides access to other areas of the city via excellent public transport links including St Michaels station which is a short walk away. The ever-popular Lark Lane with its own array of social hangouts is located across the road. The area, while being noted for its popularity is also an extremely practical district, with schools, health clubs and medical centres all within easy reach of the property.


Income

Currently the property is part let however it is expected that on completion it will be 100% let. The vendor is willing to guarantee the rent if purchased at the asking price. The property currently is fully managed by Address Properties who offer attractive and competitive packages for lettings and management.

Rents currently being achieved / expected fro the HMO property are this year at £90 / £95 per room pcw (based on 52 week contracts expiring on 30 July 2015). This rent was set for a quick rental after the completion of the build as we are sourcing pre lets, however, upon expiry of the tenancies on the 30th June 2015, the new asking rent, which we believe to be easily achievable based on the specification and location of the property, will be between £100 - 110 per room pcw.

The asking rent for the commercial unit is £15,000 pa.

In total the rent that will be achieved this year will be between £66,480 p.a. and £69,340 p.a. 

The following year commencing 1st July 2015 the expected rent will be between £72,200 p.a. and £77,920 p.a.

The Vendor will guarantee the rent from the point of completion for 3 years at £66,480 p.a if the asking price is offered. 

Property Features :

• Newly Renovated
• Five Double Bedrooms
• Double Glazing
• Gas Central Heating
• Bills Included