Acquired
Liverpool – Shop & 3 Flats
274 Park Road and 1 Isaac Street, Toxteth, Liverpool L8 4UEFreehold Retail & Residential Investment
Tenure
Freehold
Lease Term
2 Years
Years Left on Lease
Holding Over
Area
2,581 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises retail shop and 3 residential flats
- Total area size of 239 sq m (2,581 sq ft)
- Flats recently refurbished to a high standard
- Located opposite Tesco Extra, with occupiers nearby including Lidl, Restaurant/Takeaway`s, Barber, Bakery and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises retail shop arranged over ground floor and basement and 3 residential flats arranged over rear ground, first and second floor. The flats have been recently refurbished to a high standard.
The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop 55 sq m (600 sq ft)
Open Plan Retail Area with Ancillary Accommodation and WC at Basement
Rear Ground Floor: Flat 1 32 sq m (345 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom/WC
First Floor: Flat 2 74 sq m (796 sq ft)
2 Bedrooms, Kitchen/Living Room, Bathroom/WC
Second Floor: Flat 3 78 sq m (840 sq ft)
3 Bedrooms, Kitchen/Living Room, Bathroom/WC
Total area size: 239 sq m (2,581 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: Retail Shop 55 sq m (600 sq ft)
Open Plan Retail Area with Ancillary Accommodation and WC at Basement
Rear Ground Floor: Flat 1 32 sq m (345 sq ft)
1 Bedroom, Kitchen/Living Room, Bathroom/WC
First Floor: Flat 2 74 sq m (796 sq ft)
2 Bedrooms, Kitchen/Living Room, Bathroom/WC
Second Floor: Flat 3 78 sq m (840 sq ft)
3 Bedrooms, Kitchen/Living Room, Bathroom/WC
Total area size: 239 sq m (2,581 sq ft)
Tenancy Description
The retail shop is at present let to an Individual for a term of 2 years from 2nd September 2018 (Holding Over) at a current rent of £4,200 per annum and the lease contains full repairing and insuring covenants. Flat 1 is at present let on AST to an Individual* for a term of 12 Months (less 7 days) from 7th July 2021 at a current rent of £6,600 per annum. Deposit held of £200. Flat 2 is at present let on AST to an Individual for a term of 12 Months from 30th June 2021 at a current rent of £9,360 per annum. Deposit held of £400. Flat 3 is at present let on AST to an Individual for a term of 21 Months from 30th June 2021 at a current rent of £14,040 per annum. Deposit held of £200.
*Note – Flat 1 tenant expressed interest in renewing the lease until July 2023.
*Note – Flat 1 tenant expressed interest in renewing the lease until July 2023.
Tenancies & Accommodation
Location Description
Toxteth is an inner-city area of Liverpool in the historic county of Lancashire and the ceremonial county of Merseyside. Toxteth is located to the south of Liverpool city centre, bordered by Aigburth, Canning, Dingle, and Edge Hill. The local railway station is Brunswick, located on Sefton Street in the south-western extremity of the district. The station is on the Northern Line of the Merseyrail network with trains departing to Southport via Liverpool city centre and to Hunts Cross. Toxteth is well served with bus routes as well. The property is located opposite Tesco Extra, with occupiers nearby including Lidl, Restaurant/Takeaway`s, Barber, Bakery and many more.
