17 bedroom shared living/flatmate for sale

Overview

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Urban Evolution are pleased to present a FULLY LET portfolio containing 17 self-contained stylish, modern studios, rents ranging from £550pcm - £725pcm, annual net rent circa £100,000 offering a 8% Yield. The development is a popular rental accommodation always at full occupancy and in demand with tenants. The building is let to a mix use of working professionals and higher level students. Service charge is £1,440.72 annually per unit, Ground rent is £350.00 annually per unit. Coleman's Fireproof Depository which was originally built in 1900 has been converted into 27 loft style studio apartments. Each apartment resembles a modern twist on warehouse decor as the original brick and exposed pipes wrap around each apartment. The building which is across four floors also offers extra storage space in the basement and offers full management for tenants. Local schools, shops and amenities within walking distance and With the Baltic Market a stone throw away and a short walk into Liverpool City Centre you will feel as if you have everything on your door step.Market Growth in Liverpool:Liverpool's property market known for its unique mix of historical allure and contemporary features not only maintained its value but also demonstrated robust growth. Consequently, this has further cemented Liverpool's position as an attractive location for both seasoned and new investors.In 2023 Liverpool's housing market stayed strong despite a 2% decrease on house prices from March 2023 to February 2024 the average house price was £196,000. Now halfway into 2024 the housing market is showing signs of steadiness and growth, offering potential benefits to investors. Houses in Liverpool are about 44% cheaper than other areas in England and Wales, making Liverpool an attractively affordable option. It is about 30% cheaper than Manchester and 65% cheaper than London. Liverpool Market Trends:Over five years up to 2021, Liverpool saw house prices surge by 41%. This was the largest increase among UK cities. Expectations are high, predicting Liverpool's house prices could surge over 20% by 2026. This upward trend is driven by city improvements, a strong economy and increased interest from buyers and investors, resulting in increased prices. In summary, despite a slight decrease in house prices last year, Liverpool remains affordable with a promising future.Reasons to Invest in Liverpool:The arrivals of young professionals and students has boosted housing demand. Key urban projects such as the £5.5 billion Liverpool Waters are crucial for the city's enchantment. Future projects like HS2 and Crossrail North will enhance connectivity. The average rental yields in Liverpool are currently at a 6 year high, ranging between 4-9% depending on the property and postcode.