- For Sale by Auction - T & C"s apply
- Located on Smithdown Road
- Subject to an undisclosed Reserve Price
- 9% yield
- Five bedroom flat
- The Modern Method of Auction
**COMMERCIAL UNIT WITH FIVE BEDROOM FLAT ABOVE** Projected rental income £32,180 giving investors a healthy yield of 9%. Located on Smithdown Road, Wavertree.
This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer`s solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance.
Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% subject to a minimum of £5,000 plus VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department.
Please note this property is subject to an undisclosed Reserve Price which is generally no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by the North West Property Auction powered by iam-sold Ltd.
Downstairs commercial unit consists; shop front, office, storage/office space, kitchen, bathroom and rear yard with two garages suitable for storage. permitted use is A1. Projected income of £14,000 per annum. Shop was granted planning permission for use as cafe/restaurant/hot food takeaway (A3-A5) as well as it`s current use as A1. Although this did expire in 2015 but our client informs us that he does not think it will be an issue to obtain this again.
. The flat offers five bedroom`s projected rental of £18,180 per annum. Although as the current layout stand`s it classed as one flat, there is potential to be split. Currently the flat comprises; five bedrooms, 2x kitchens, 2x bathrooms, 2x living rooms set over two floors.
Please contact our office to arrange your viewing and find out more information on this wonderful property.
marshallets limited endeavour to make our property particulars accurate and reliable, however, they do not constitute or form part of any offer or contract and are not to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective renters only, and are not precise. If you require clarification or further information on any points, please contact us.