North West’s Largest Independent Estate Agent

Lot 18 - Wednesday 8th September 2021363/363a Edge Lane, Fairfield, Liverpool, Merseyside, L7 9LQ

AVAILABLE AT £295,000

Legal Pack


For Sale by Online Auction 8th September 2021

WHY BUY?
2 x Commercial Units
3 x Self Contained Flats
Enviable Position
High Yield Opportunity

DESCRIPTION
A mixed-use investment opportunity across three floors in a much sought after trading position on Edge Lane, Liverpool. The commercial area is split into 2 separate units with own front and rear access. To the front is a shop floor, currently being used as an electrical retailer, with counter leading to further shop area, large storage/workshop, w.c. and kitchenette. The rear unit is currently being used as a health bar confectioner and opens into large work space/office/workshop/studio with a further storage room, kitchenette and cloakroom. The building benefits from a long row of car parking spaces providing ample slots for staff and customers. There is also a shared courtyard under agreement, used as a fire point. Both commercial units are leased with a combined income of £1,250pcm. The flats are accessed via front door to the left of the shop, up staircase and configured as follows: to the first floor is a studio flat with separate kitchen and bathroom, currently let to long standing tenant at £300pcm, a large fully refurbished one bedroom flat with bedroom, lounge, kitchen, bathroom, currently vacant and ready to let at circa £450-£500pcm. To the second floor is a replica one bedroom flat as described and is tenanted on a rolling contract with rental income of £450pcm. Following a scheme of renovation to the communal areas and two of the flats, there is potential to increase rental income.

LOCATION
This property is in a prime position on Edge Lane – the arterial road leading into and out of Liverpool via the M62. It is within walking distance of Liverpool Shopping Park with many large high street retailers, and amongst new developments of further big brand stores. There is enviable footfall both from the local neighbourhood and visitors to the City. In addition to retail, it is a popular residential area, particularly for the student market and people working locally or the City centre.

ACCOMMODATION
Front Commercial Unit: Two shop floor areas with counter, workshop/store room, cloakroom, kitchenette, access to fire escape
Rear Commercial Unit: Large open plan work space/office/workshop/studio, store room, cloakroom, kitchenette
First Floor Flat C: Studio flat with bedroom, separate kitchen and bathroom
First Floor Flat A: Hallway, kitchen, lounge, bedroom, bathroom (refurbished)
Second Floor Flat B: Hallway, kitchen, lounge, bedroom, bathroom

TENURE
Freehold

Please Note - Satellite photo is used for illustrative purposes only and should not be used to form accurate boundaries.

AUCTION FEES
The sale of this lot is subject to a Buyer’s Administration Fee of 1% + VAT of sale price, subject to a minimum £1250 + VAT, payable on the fall of the hammer. The purchase of this property may include associated fees not listed here. Any additional fees will be implemented by the sellers solicitors and confirmed in the legal pack which can be downloaded for free from our website prior to the auction.

Stamp Duty Calculator

You will pay
£8,400
• This calculation assumes that you already own a property and that any purchase would result in you owning two or more properties

• if you complete before 31 March 2021, you may be exempt from paying Stamp Duty on the first £500,000 of your property value

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