69/69a Poulton Road Wallasey CH44 9DD Asking price of £270,000

Property Type

Commercial

Features and description

Mixed-Use Investment We have available this substantial semi-commercial investment property consisting of five self-contained flats and one commercial unit. A programme of upgrade and renovation has been carried out recently, which includes installation of wall insulation to the entire property, upgrade to Economy 7 Dimplex Quantum storage heaters for the one-bedroom flats that are all-electric and the installation of new FD30 fire-rated doors and framesets for each flat. The EPC's are all Grade C or better, meaning the property is already compliant to the new minimum EPC requirement set to be introduced in 2025. The 5-yearly Electrical Safety Inspection has been carried out on the entire property, with next inspection not due until 2025. A series of interlinked mains-powered smoke alarms and heat detectors are fitted throughout each flat, the communal areas and shop unit, also with battery-backup emergency lighting in the communal areas.

A fire risk assessment is in place for the entire building. The property benefits from a secure entry magnetic-lock front entrance door with intercom, an 8-camera CCTV system covering all communal areas & entrances, and a useful landlord storage locker on the ground floor. The flats are all enrolled on the Wirral Council Property Accreditation scheme and have achieved star ratings for Thermal Comfort, Fire Safety, Security & Electrical Safety. All flats are also in the Selective Licensing scheme and the last interim inspection was signed-off as complete by Wirral Council Housing Standards in October 2020.

It should be noted that Licenses are non-transferrable so the new owner will need to apply for new 5-year licenses.

The total cost for the 5 flats will be £1775. The units are located in an established residential/commercial area close to local services and amenities including regular transport links to Liverpool and surrounding areas. All six units are tenanted and produce a yearly income totalling £26,256 giving a healthy rental yield of around 10%. Shop Unit - The shop unit has been recently outfitted and presently operating as a convenience store.

EPC rating C.

Currently let on a 4 year lease at £238 PCM to an established local businessman. Flat 1 - Ground floor flat briefly comprises of two bedrooms, kitchen/diner, bathroom, and lounge further benefitting from gas central heating.

EPC rating C.

Currently let at £450 PCM. Flat 2 - First floor flat briefly comprises of one bedroom, kitchen, bathroom, and lounge with Dimplex Quantum electric storage heater.

EPC rating C.

Currently let at £375 PCM. Flat 3 - First floor flat briefly comprises of one bedroom, kitchen, bathroom, and lounge with Dimplex Quantum electric storage heater.

EPC rating B.

Currently let at £375 PCM. Flat 4 - Second floor flat briefly comprises of one bedroom, kitchen, bathroom, and lounge with Dimplex Quantum electric storage heater.

EPC rating C.

Currently let at £375 PCM. Flat 5 - Second floor flat briefly comprises of one bedroom, kitchen, bathroom, and lounge with Dimplex Quantum electric storage heater.

EPC rating B.

Currently let at £375 PCM. All flats are currently privately let on Assured Short-Term tenancy agreements, with all rents being paid directly to the landlord via Wirral Council housing benefit.

A full history of payments are available during the due diligence stage.

• SEMI-COMMERCIAL INVESTMENT
• FIVE SELF-CONTAINED FLATS
• ONE COMMERCIAL UNIT
• FULLY OCCUPIED
• HEALTHY 10% RENTAL YIELD
• EPC RATING C OR ABOVE THROUGHOUT
• CONVENIENT LOCATION
• VIEWING ADVISED