•For Sale By Online Auction – 20th & 21st November 2019
•Guide Price: £260,000+
•Mixed use mid terrace investment property
•Let – Total income approx: £31,392 pa
This mixed use commercial and residential premises offers a retail shop to the ground floor and a large HMO to the upper floors.
The property is conveniently located on Smithdown Road and offers excellent passing foot trade for the ground floor retail unit. The commercial element is currently let and trading as a hair dressing salon. The accommodation to the ground floor includes a large shop floor which is very well presented, at the rear is a small kitchenette, a storage room and a WC.
The residential accommodation is self contained and is arranged as a six bedroom house of multiple occupancy. The accommodation is of a good standard throughout with all rooms being neutrally decorated with plastered and painted walls and laminate flooring.
The communal living space is located on the top floor and comprises a modern fitted kitchen with integrated appliances and living room. Each room is partially furnished with a double bed and a wardrobe, chest of draws and a bedside table.
There are six letting rooms in total, each being well proportioned. There is a family bathroom and shower room on the first floor and one ensuite bedroom and a separate WC and wash hand basin on the second floor.
The property is well placed within the area, there are a mixture of similar mixed use and residential properties within the vicinity and is situated approximately four miles south east of Liverpool City centre.
The property is sold as a ready made investment, with the retail unit on the ground floor let as hair salon (Absolutely Fabulous) with a passing rent of £666 pcm (£7,992 pa).
The HMO is mostly let with five out of the six rooms occupied. Each room is let for approximately £325 pcm (£3,900 pa). When fully occupied this will represent an income of £23,400 pa for the residential accommodation.
This will provide a total annual income of £31,392 pa, representing a gross annual yield of 12.07%.
GF retail – 43 Sq. M (462 Sq. Ft)
1st F Residential - 55 Sq. M (592 Sq. Ft)
2nd F Residential – 34 Sq. M (365 Sq. Ft)
3rd F Residential – 32 Sq. M (344 Sq. Ft)
Total – 165 Sq. M (1,776 Sq. Ft)
We understand the property to have mains gas, electricity, water and drainage.
The residential flat is rated in Council Tax Band A. Council Tax payable (2019/20) is approximately £1,299.92.
The ground floor shop and premises have a current rateable value of £3,300 pa.
2% (min. £3,600) inc. VAT