The Collegiate is a well known building in Liverpool with a Grade II listed status; it was built in 1840 by Liverpool Christians and was the first public school of it’s era. I’ll move on to the apartment for sale but if you’re interested in the history, have a read through this.
Reeds Rains City Living have listed a great one bedroom duplex style apartment for £105,000. Details can bee seen here. That might not strike you as a bargain but the most recent sold price for 1 bedrooms were £106,000 and £107,000 and it is the lowest price out of current listings. I think if you could have an offer around £100,000 accepted, it would be a very good buy! A colleague has dealt with rentals in this development on numerous occasions and very similar apartments have let for £625 per month (not bad for a one bedroom). I’ve noticed another is currently Let Agreed at £650 too.
Although I’m sure my readers would negotiate a great deal, I’ll work with paying full asking price and a cautious rent of £625 per month. Service charges need to be taken into consideration when considering a leasehold- the agent couldn’t confirm the costs, unfortunately but the gross annual income would be £7,500 which would be 7.1% yield.
As always, comments and questions are invited.