Commercial Property for sale

Location
The property is situated in the Edge Hill area, approximately a mile to the east of Liverpool City Centre. It is in a mixed use district, overlooking an area of grassed open space and a retail warehouse to the front and low rise, modern, office buildings to the rear with the immediate surrounding area consist of predominately residential/student housing. Woodside Street is a cul-de-sac leading off Harbord Street, close to the B5178 Wavertree Road, which is a busy single carriageway arterial route leading from the City Centre. There are light industrial / retail warehouse units within close proximity of the property. The main concentration of Liverpool University buildings lies approximately half a mile to the west with national commercial occupiers in close proximity such as Tesco Metro.
The Property
The property is a three storey, purpose built block of 16 self-contained residential apartments - a mixture of 3 and 4 bed, The apartments are let on a room-by-room basis currently occupied by 48 tenants (6 void) producing a gross income of crica ?317,000 per annum. There is a concrete flagged forecourt area between the front of the building and the highway, which is enclosed by high security railings and electrically controlled entrance gates. There is a further narrow walled strip of land between the back of the building and the rear boundary providing an opportunity for extending the existing building or redevelopment.
Accommodation
The accommodation has been measured on a Gross Internal Area (GIA) basis in accordance with the RICS Code of Measuring Practice (6th Edition). The property comprises a range of residential units extending from approximately 54.3 sq.m (584 sq.ft) to 86.6 sq.m (932 sq.ft). The building provides an overall Gross Internal Area of 1,295.63 sq.m (13,946 sq.ft)
Tenancy Information
We understand that there are a total of 48 tenants paying ?550 per calendar month, with the majority on 49-week terms producing a total income of ?26,400 per month / ?317,000 per annum
Further information available upon request.
Tenure
We understand the property is held Leasehold for the residue term of 999 years commencing 29 January 1999 at a peppercorn ground rent.
EPC
The property has an Energy Performance Rating of C & D. A full copies of the EPCs are available upon request.
Council Tax
Interested parties should make their own enquiry of Liverpool City Council on 0151 233 3008 or www.liverpool.gov.uk/council-tax
Price
?2,300,000, reflecting a Gross Yield of 13.75%.
Viewings
Strictly by appointment via the sole agents SK Real Estate (Liverpool) Ltd Tel: 0151 207 9339 / Contact: Tom Pearson ([email protected])
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Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own research into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Utilities
Electric: Mains Supply
Gas: Mains Supply
Water: Mains Supply
Sewerage: Mains Supply
Broadband: Unknown
Telephone: Unknown
Other Items
Heating: Not Specified
Garden/Outside Space: No
Parking: No
Garage: No