This is a profitable investment property for the UK private rental market, delivering high yield on low cost investment, which makes this apartment attractive for new property investors as well as established landlords and portfolio builders. Offers are invited at around the £57,000 mark, which would deliver an 8% gross yield (7% yield after operating costs) and please read the last paragraph for higher yield. Tenure is 125 year leasehold from 27th February 2006. Rent is £4,620 per annum rent (paid month in advance).
Operating costs are primarily service charges payable to the freeholder for 2015/16 at £383.12 which includes external/structure repairs, ground rent, property insurance, sinking fund contribution and grounds maintenance. We have also provisioned for annual gas safe inspections and a small allowance for unscheduled maintenance/call out. Deposit against cleaning and/or damage is held in the deposit protection scheme. An independent professional inventory was produced for tenant move-in, June 2015.
This apartment block recently had a full roof replacement plus adjoining areas and external yard areas refurbishment (front and rear). The high standard of internal accommodation has attracted a professional tenant who commenced their six month assured shorthold tenancy agreement (ast) from June 2015.
The location is excellent for work or leisure, being just 50m from bus stop for Liverpool city centre, 300m from Rice lane railway station, 300m from Sainsbury's and just 200m from a large park for walking or jogging and local convenience shops are just 70m away. Driving time is approximately 12 minutes to city centre and bus, rail times are similar. The M62 and M57 are easily accessible in a similar time. University Hospital Aintree is a two minute train ride, four minute bus ride or ten minute cycle.
This is not financial advice, although we personally believe that this property provides excellent returns especially when compared to other forms of investment. Any investor should carry out their own due diligence and where necessary, obtain independent advice. When getting this advice, be sure to discuss how your own buy to let mortgage at 25% deposit (better deals are emerging now) would require just £14,260 cash to deliver 16% yield and cover annual operating costs.
First floor accommodation - Total 50.55 sq metres (544 sq feet)
Double glazed throughout. Fensa Certificates available.
Electrical wiring was upgraded to 17th edition in 2010 with new consumer unit. Certificates available.
Gas warm air central heating unit fitted 2010 with full current gas safe certificate. Warm and economical.
Insulated loft, cavity wall insulation, EPC grade C.
Lounge 3.9m (12' 10") x 3.8m (12' 6")
Large double glazed window, warm air heating vent, thermostat heating control, fitted carpet, TV and telephone points, electrical sockets, fitted blinds and curtain rail, door to landing.
Bedroom 3.94m (12' 11") x 3.66m (12' 0")
Good size room with large double glazed windows, fitted carpet flooring, electrical sockets, wall-mounted heater, fitted blinds and curtain rail, door to landing.
Kitchen 2.8m (9' 2") x 2.8m (9' 2")
Attractive and well laid out kitchen with window opening onto yard communal garden and car park for all 14 flats. Fitted window blinds, a range of fitted wall and base units and shelving, fitted electric hob, oven, extractor hood (ducted to outside), warm air vent, linoleum flooring, plumbing and space for washing machine, switches for water heating and external security light, ceiling spotlights, door to landing.
Bathroom 2.0m (6'7") x 2.0m (6'7")
Three piece suite comprising of white bath with handrail, wash hand basin, low flush w.C, frosted window to front aspect, linoleum flooring and part tiled walls, bathroom cabinet, door to landing.
To stairs from front door. Smoke detector (mains connected), fitted carpet, enclosure for gas warm air unit (fitted in 2010), airing cupboard housing water tank and water heater, utilities cupboard housing electrical consumer unit (17th edition, fitted 2010).
Stairs leading to ground floor
Stairs fitted carpet, handrail, mid-way light with switches top and bottom.
Ground floor accommodation
Hallway 8m x 1.1m
Front door (UPVC), stairs leading to first floor, door into storage room.
Store room 2.0m (6'7") x 1.5m (4' 11")
A versatile (and un-insulated) room, useful for storage of bikes, freezers, boxes or other items. Power socket, linoleum flooring, door to hallway.
Courtyard approx 11ft x 11 ft
Shared with downstairs apartment, front doors for both flats. External security light, switched from kitchen, doors to bin cupboard, two wheelie bins per apartment, stub wall, metal half height gate leads onto pavement and adjacent to communal area and car park.
Prospective buyers and vendor are each responsible for their own fees. Exchange of contracts will take place immediately following a 10% deposit made from buyer solicitor to vendor solicitor. Completion is strictly 28 days post exchange. Viewings can be arranged but no time wasters as proof of funds and confirmation of capability to purchase will be sought.