Mixed use

For Sale by Online Auction 13th July 2022

WHY BUY?
High Yield at approx. 11% of guide Price
current Rental Income £28,480 per annum
Large Mixed Use Opportunity
2 x Commercial Units
4 x Flats
Busy Footfall Area

DESCRIPTION
One of the largest mixed use opportunities in the area comprising of 2 Ground floor commercial units with 4 self contained flats above, accessed via a separate side entrance.. Located on Prescot Road amongst a long row of shops, restaurants and other businesses, it has a busy footfall. The ground and first floors of 542 have been sold off on a long lease. Gyros Grill restaurant occupies one of the commercial units and is leased for 5 years from 2018 at £7,000 per annum. There is a further vacant commercial unit which previously traded as a Boutique and was previously let at a rental of £4,800 per annum in 2019.  To the upper floors are four self-contained flats comprising: two x three-bedroom flats, one x two-bedroom flat and one x one bedroom flat.  They each benefit from double glazing, electric wall heaters, intercom, electric and water meters.  All four flats are occupied on AST’s generating a rental income of £21,480 per annum.  Flat 1 is let at £390pcm, F2 is let at £350pcm, F3 is let at £550pcm and F4 is let at £500pcm.   This gives a combined current annual income including the commercial unit of £28,480.  The potential annual rental income when fully let would be in excess of £32,000 per annum.  We are informed by the Seller that for on Flats 1 & 2 his managing agents have clarified that no deposit was taken, nor are there any zero deposit schemes are in place as they could not fully reference the tenants at the time.
 
ACCOMMODATION
Ground Floor Commercial Unit 1: Greek Restaurant 
Ground Floor Commercial Unit 2: Vacant.
Upper Floors: two x three-bedroom flats, one x two-bedroom flat, and one x one bedroom flat.  

LOCATION
The property occupies a prominent site to the corner of Prescot Road and Batley Street on a busy main road and suburban trading location in the district of Old Swan approximately 2 miles east of Liverpool city centre.
LOCATION
The property occupies a prominent site to the corner of Prescot Road and Batley Street on a busy main road and suburban trading location in the district of Old Swan approximately 2 miles east of Liverpool city centre.AUCTION FEES
The sale of this lot is subject to a Buyer’s Administration Fee of 1% + VAT of sale price, subject to a minimum £1500 + VAT, payable on the fall of the hammer. The purchase of this property may include associated fees not listed here. Any additional fees will be implemented by the sellers solicitors and confirmed in the legal pack which can be downloaded for free from our website prior to the auction.