Wallasey, CH44 4BT | Investment Property for Sale | VES-CH44-001

Opportunity to purchase a HMO block in Wallasey with the potential to generate £78,000 gross rent pa

£650,000

HMO block

VES-CH44-001

INITIAL INVESTMENT

£192,000

Based on

deposit: £162,500

stamp duty: £27,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£78,000

GROSS YIELD

12.0%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Freehold

15 bedrooms

15 bathrooms

2 reception rooms

4,170

Unfurnished

Block information

  • Brand new conversion from a former commercial/mixed-use building and separate detached warehouse
  • Consisting of 3 x HMO apartments:
    • 1 x 4-bed apartment
    • 1 x 5-bed apartment
    • 1 x 6-bed apartment
  • Each apartment has a separate entrance
  • All bedrooms are above 10.5 sqm and have ensuite shower rooms
  • The 4-bed and 6-bed apartments have a large open plan kitchen/dining/living area
  • The 5-bed apartment has a kitchen/diner
  • On-street parking is available outside the property
  • Works are currently ongoing and are expected to complete by the end of November 2020
  • Any snagging is expected to complete in early December 2020
  • The apartments are fully insulated to current building regulations
  • There is a single 3-phase electrical supply serving the whole development
  • New efficient gas boilers and hot water tanks have been installed
  • The estimated EPC rating is a C, which is yet to be confirmed

HMO licence information

  • A HMO licence is required for the 5-bed and 6-bed apartments, but not for the 4-bed apartment.
  • The vendor is an experienced and bespoke HMO developer. All works are carried out in accordance with regulations to ensure that there will be no issues in obtaining the two required HMO licences.
  • The vendor is happy to liaise with and assist prospective buyers as necessary

Rental information

  • It is expected that each of the 15 rooms will achieve £100 per week
  • Expected aggregate monthly rental income £6,500
  • Expected aggregate annual rental income £78,000

Running costs

The below costs are estimates only for all 3 apartments and may vary:

  • Council tax: £3,800 pa
  • Gas bill: £3,000 pa
  • Electricity bill: £3,000 pa
  • Water bill: £1,200 pa
  • Total cost pa: £11,000
  • Total cost pcm: £916.67

Notes

Vesta will update the photos once the works are completed.

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Wallasey, Merseyside

Wallasey is a town in Merseyside on the mouth of the River Mersey and adjoining the Irish Sea. It lies around 6 miles west of Liverpool and 4 miles north of Birkenhead.

Wallasey comprises of 6 distinct districts and doesn’t have a single Wallasey town centre. The districts are Egremont, Liscard, New Brighton, Poulton, Seacombe and Wallasey Village.

There are a number of important road links such as the Kingsway Tunnel which links Wallasey with the centre of Liverpool and the M53 motorway with begins in Poulton and goes to Chester and the M56 motorway, continuing on to Manchester Airport.

There are three railway stations, Wallasey Village, Wallasey Grove Road and New Brighton. Trains to Liverpool and Birkenhead depart regularly here. A change at Birkenhead North provides access to West Kirby, Liverpool city centre and routes towards Chester and Ellesmere Port.

In the centre of Wallasey is the Cherry Tree Shopping Centre offering several popular high street brands whilst outside of Wallasey is a retail park and a large supermarket in nearby Bidston. Wallasey village and Liscard offer a variety of shops and independent stores including florists, pet shops, arts and crafts shops and others.

Sport activities are provided by the Guinea Gap Recreation Centre which includes a gym, swimming pools, sauna facilities and more as well as Wallasey Golf Club. Ladies only fitness is provided at Hearts Ladies Health Club.

For outdoor lovers Central Park in Wallasey offers three formal gardens, large open spaces, nature ponds, a lake a visitor’s centre, children’s playground and sports facilities for bowls, cricket and basketball. Wallasey beach is also popular with dog walkers, kitesurfers and explorers.

Poulton Road,

Wallasey,

Merseyside,

England,

CH44 4BT

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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