10 bedroom residential development for sale

Former Leasowe Castle Hotel, 1 Demesne Street, Wallasey

Sold STC £200,000

Property Description

Full description

For Sale by Auction 11th July 2018

WHY BUY
10 x self-contained flats
Ground floor training centre
Potential to add capital value
Additional plot with planning for 3 units
Rental income potential circa £50,000pa

DESCRIPTION
This is a large former public house that has been configured to provide a ground floor unit that has previously been used as a skills workshop/training centre. To the upper floors there are 10 x self-contained studio flats. Currently 6 of the units are let by way of AST agreements with passing rent of £370pcm/£26,640pa. If each of the 10 flats are let at £370pcm and the ground floor unit is let at £150pw/£7,800pa, the total potential income for the building fully let is £52,220pa. The property benefits from double glazing, central heating and roller shutters. A section of the exterior plot has also been granted planning permission to build 3 x houses. 

LOCATION
Accessed from Borough Road East in Wallasey close to Home Bargains and numerous other shops and amenities. Just over 1 mile from Cherry Tree Shopping centre. 

ACCOMMODATION
Ground floor: Large meeting/training room, 2 x offices, toilets, large workshop room
First floor: 5 x self-contained studios 
Second floor: 5 x self-contained studios
Outside: Large yard to the rear, large carpark to the front

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 £1000 + 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.
  


More information from this agent

Nearest stations

  • Hamilton Square (1.1 mi)
  • James Street (1.2 mi)
  • Birkenhead Park (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Venmore, Auction Department

9 Dale Street Liverpool L2 2SH

0151 954 0351 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Hamilton Square (1.1 mi)
  • James Street (1.2 mi)
  • Birkenhead Park (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Venmore, Auction Department

9 Dale Street Liverpool L2 2SH

0151 954 0351 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 8842619. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Venmore, Auction Department. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Venmore, Auction Department on 0151 236 6746.


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