Self-contained apartment building with re-development/asset management opportunities

Key Points

• 44 self-contained apartments
• Re-development / Asset management opportunities
• Passing rent of £105,000 per annum at approximately 50% occupancy
• Private off-road car parking

Description

The subject property comprises a detached partially let residential property comprising of 44 self-contained apartments. The building itself is constructed of traditional masonry construction, surmounted under a flat roof covering.

The property has undergone a partial scheme of refurbishment works including upgraded heating systems and cavity wall insulation throughout.

Private off road parking is situated to the rear of the property which can be accessed via a driveway off Peatwood Avenue.

At present, the property is approximately 50% let with an annual passing rent of circa £105,000 per annum. We anticipate when fully let, an estimated rental income in excess of £190,000 per annum would be achievable.

Location

The subject property is situated on Peatwood Avenue in Kirkby and lies within close proximity to Moorgate Road North (A50207) and Jct 4, M57 motorway.

Peatwood Avenue is located approximately 6 miles to the north-east of Liverpool city centre and well situated with respect to local transport links.

Viewings

Viewing strictly by appointment only.

Jointly on behalf of JRE and Venmore Commercial.

Terms

The Long Leasehold interest is to be placed to the market at offers from £1,500,000.

Accommodation

We understand the property benefits from the following accommodation;

Apartment Type No.
Studio apartments 37
1 bedroom apartments 6
3 bedroom apartments 1

Tenure

The property is held Long Leasehold under title no. MS624403, a copy of which is available upon request.

Term - 250 years from 29 July 2015.