Wallasey Based Investment Property For Sale

Business description

21 Bed Sits & 1 Flat
Potential Rental Income £68,900 PA
Ground Floor Retal Area (5 Former Shops)
Ground Floor Currently T/a Hardware & Furniture
Former Action Room With Storage
Densely Populated Area

Blacks are pleased to market this investment property which comprises extensive ground floor retail and storage space as well as first and second floors with twenty one bedsits and one flat. The property is located in the Seacombe area of Wallasey which is densely populated with a mixture of new and well established residential and commercial properties. There are a number of shops in the area, which includes a Tesco Express store as well as a modern old peoples home.

The ground floor retail space is occupied by a Home Furnishings business which retails beds, bedroom and occasional furniture as well as hardware and paint. The fixtures and fittings of the business are offered in the sale but primarily the ground floor retail space is being offered with vacant possession.

The first and second floors have twenty one bedsits and a two bedroom flat. At the time of instruction nineteen bedsits and the flat were occupied.

The owner charges £65 per week for the bedsits and £90 per week for the flat with a potential gross income in full occupation of £68,900, which reduces to £50,000 per annum after payment of rates and utility bills.

The extensive ground floor retail space was well presented at the time of our visit and would be available for letting or for investors own use and comprises five former shops with storage, which have been combined to produce mostly open plan connecting retail areas, plus storage. In addition there is a former auction room and a self contained shop (which was not examined at the time of our visit ) and attached to the main building. The property benefits from free roadside parking to the front and side.

Property information

Property:

Freehold