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    Key features

    • Freehold
    • Mixed-use investment including ground floor retail unit and rear commercial accommodation
    • Upper parts comprise former 20-bedroom HMO and 1-bedroom flat
    • Modernisation works recently completed to upper floors
    • Development potential (STP)
    • Opportunity to create a high-yielding investment
    • Established and popular location
    • Ground floor retail unit trading as a tattoo parlour – let at £5,400 per annum
    • Rear commercial unit (35 Florence Road) currently vacant
    • Upper parts vacant with potential income of £76,284 per annum (based on LHA rates)
    • Total ERV of £86,800 per annum
    • Investment currently producing £5,400 per annum with significant reversionary potential
    • VAT is not applicable
    • ERV reflects a gross yield of 23.06% on the guide price
    • Investment currently let at £5,400pa + vacant 20 bedroom HMO, 1 bedroom flat and commercial unit

    Description

    The property comprises a mixed-use freehold investment, including a ground floor retail unit together with rear commercial accommodation and a vacant former HMO to the upper parts.

    At ground floor level, the property includes a retail unit trading as a tattoo parlour, let at £5,400 per annum. In addition, there is a commercial unit situated to the rear at 35 Florence Road.

    The upper parts are arranged across the first and second floors, with access from two separate doors at ground floor level. The accommodation was previously configured as a licensed HMO comprising 20 bedrooms alongside a single one-bedroom flat. Modernisation works have recently been completed, including new flooring, redecoration and refitted bathrooms.

    Based on Local Housing Allowance (LHA) rates for the area, the upper parts are expected to produce a rental income of approximately £76,284 per annum once fully let. Including the ground floor and rear commercial accommodation, the total Estimated Rental Value (ERV) for the entire property is approximately £86,800 per annum, offering an attractive high-yielding investment opportunity.

    The property may also be suitable for conversion to alternative uses, subject to obtaining the requisite consents.Located on Borough Road, the property sits within an established residential area popular with commuters to Liverpool City Centre, with public transport journey times of approximately 20 minutes.

    Additional information

    Tenure

    Freehold

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      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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