Produce Exchange Buildings, Liverpool, Merseyside, L1 6BD
0 Sq Ft
£350,000
- Type: Investment
- Availability: Withdrawn
Description
Located in a prime city centre close to all the amenities, the building comprises 54 Apartments ( 1 & 2 bedroom and Studio) plus one commercial unit on the Ground Floor. It was fully refurbished in 2018.The Seller manages the building themselves and wishes to carry on doing so for the foreseeable future but the Purchaser would have the right to terminate if the service is unsatisfactory.
Current income
£22,400 p.a
The Ground rents should increase as follows: -
44 Apartments due March 2026
10 Apartments due June 2028
1 Commercial Unit due October 2024
Tenure Comments
The Ground Rents are held on a 500 year Lease from and including 31st March 2016 expiring 30th March 2516 (492 years unexpired) at a peppercorn.
55 Units held on Leases from 31st March 2016 to 6th March 2515 (494 years unexpired) each uncapped reviewable every 5 years by RPI.
Price
£350,000 equating to a gross initial yield 6.4%
Inspection
Lucy Warriner
07903 092763
Lucy.warriner@fifieldglyn.com
Located in a prime city centre close to all the amenities, the building comprises 54 Apartments ( 1 & 2 bedroom and Studio) plus one commercial unit on the Ground Floor. It was fully refurbished in 2018.The Seller manages the building themselves and wishes to carry on doing so for the foreseeable future but the Purchaser would have the right to terminate if the service is unsatisfactory.
Current income
£22,400 p.a
The Ground rents should increase as follows: -
44 Apartments due March 2026
10 Apartments due June 2028
1 Commercial Unit due October 2024
Tenure Comments
The Ground Rents are held on a 500 year Lease from and including 31st March 2016 expiring 30th March 2516 (492 years unexpired) at a peppercorn.
55 Units held on Leases from 31st March 2016 to 6th March 2515 (494 years unexpired) each uncapped reviewable every 5 years by RPI.
Price
£350,000 equating to a gross initial yield 6.4%
Inspection
Lucy Warriner
07903 092763
Lucy.warriner@fifieldglyn.com