This freehold investment opportunity is currently being redeveloped into a 7 bed HMO with completion due April 2020. Fully let from 1/7/20 to 30/6/21 with a gross rental yield of £31,255 per annum.
Rent includes provision of all utilities and broadband. This substantial end terrace property is located close to the Royal Liverpool University Hospital and 5 minutes’ walk to the University of Liverpool. The property is undergoing an extensive ‘back to brick’ redevelopment including the insulation of all external walls, structural alterations, loft conversion, internal layout improvements and full modernisation. The property is laid out over three floors with large open plan living kitchen and one bedroom to the ground floor. On the first floor there are three bedrooms and a bathroom.
To the second floor there are three further bedrooms and a bathroom. All bedrooms are similar size and contain the same range of fitted and non-fitted furniture. The property has full planning approval and on completion will be fully compliant with Building Regulations and HMO Licencing Regulations.
Kensington is always popular with investors who see the potential in the area's on going regeneration and identify that its proximity to the City, both Universities and the Royal Liverpool Hospital make it ideal for the rental market. First time buyers can also benefit from the more affordable nature of the property here and enjoy having the City Centre so close to hand.
Property is primarily traditional Victorian terraced housing but with some notable Georgian properties and impressive Villas closer to town and around Fairfield. Prices, even for the larger properties, compare very favourably with the rest of the City, making for good prospects for a sound rental return and giving first time buyers more house for their money.
Full of contrasts and surprises, the area includes the Grade II listed, 121 acre Newsham Park which is surrounded by fine architecture - largely on Prospect Vale and Fairfield Crescent - and is a designated conservation area. Shops are many and varied along Kensington and West Derby Road, with larger, national chain stores located on Prescot Road and at Edge Lane Retail Park, which also has restaurants and a multiplex cinema.
Frequent train services to Manchester and into Liverpool run from Edge Hill Station, buses are regular and Edge Lane/Drive takes drivers straight on to the start of the M62.