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Guide Price* £290,000

Property Description

Key features

  • LOT NUMBER : 25
  • Residential Investment
  • Freehold
  • *GUIDE PRICE : 290,000 - 300,000

Full description

This property comprises an impressive pair of semi-detached buildings which have been converted to comprise ten self-contained flats.

It is situated in a prominent position within easy walking distance of Liscard Town Centre and some five minutes drive from New Brighton Promenade with a wide of leisure facilities. A number of residential development schemes have recently been completed nearby.

Rake Lane is a popular residential location both for rental and owner occupation and when fully let, this property will provide a rental in the region of £38,500 representing a yield of 13%.

The flats have uPVC double glazing and electric heating and there is a fire alarm, emergency lighting and a smoke alarm.

Both ground floor flats have their own access with shared access to the remaining flats from the side entrance halls of each building.

At the time of our inspection, we were unable to make an internal inspection of all of the units but from those inspected, we understand the accommodation of each flat comprises hall, lounge, double bedroom, bathroom and kitchen with the exception of the garden flats which have a living room/kitchen, single bedroom and bathroom.

There are front and rear gardens together with a bin storage area.

The flats are let on assured shorthold tenancies at the following rentals:-

2 Rake Lane
Flat 1 - Vacant
Flat 2 - £350 pcm
Flat 3 - £300 pcm
Flat 4 - £325 pcm
Flat 5 - £375 pcm

4 Rake Lane
Flat 1 - £275 pcm
Flat 2 - Vacant
Flat 3 - £285 pcm
Flat 4 - £325 pcm
Flat 5 - £350 pcm

When fully let there is a rental income in the region of £38,500 p.a.

Joint Agents
Bakewell and Horner, Wallasey

By arrangement with the auctioneers.

Listing History

Added on Rightmove:
22 August 2018

Map & Street View

Disclaimer - Property reference 2529. The information displayed about this property comprises a property advertisement. 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 Smith and Sons, Auctions. 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 Smith and Sons, Auctions on 0151 647 9272.

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