We’ve had the instruction for a 17-unit block, just 10 minutes from Liverpool City Centre. The large Victorian property has recently been converted into 7 x residential apartments and 10 x separate serviced apartments – essentially being split into two sections with their own separate entrances.
All units are under a fixed lease for the next 5-years currently generating £75,600 PA with being contracted to increase to £81,120 PA in years 4 & 5. With this type of lease in place, this means there are no bills, management or maintenance charges for the landlord to pay throughout the entirety of the agreement – the only expense for potential buyers would face are finance deductions and building insurance.
To further break down the lease in place; the residential apartments are let to a charity at £46,200 PA beginning in May 2021 and the serviced apartments are let to a hotel operator at £33,000 PA starting in November 2021.
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Please Note: Property values can decrease as well as increase. No express or implied income claims are made herein. Historic performance should not be taken as a guarantee of future performance. Leveraged property investment with mortgage finance can increase the risk of losing money as well as increasing the possible gains.
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