I’ve spotted this great investment property in Liverpool City Centre. The property is located in Upper Parliament Street, L8 and although it sounds as though it’s not the City Centre, I would beg to differ. As our great City gets bigger and better, the city centre expands and this is an ideal investment for a person who buys in the Liverpool City Centre.
The property is located on the top floor of Catherine House and boasts an allocated parking space at the rear of the development, an open plan lounge with fantastic views of the city including the Anglican and the Metropolitan Cathederals and also views of the Welsh mountains. The kitchen has an integrated fridge freezer, dishwasher, washer/dryer and an oven and hob. The bathroom in the property offers a bright room with bath, over head shower, toilet and basin. The property also comes with a bright double bedroom that also offers great views of the city.
The property does need a bit of TLC (tender, loving, care) which would include replacing the oven and hob and flooring throughout the property as well as a coat of paint but generally the property is in a good condition.
The property is perfect for the young professional in the city and would have no problems in securing tenants who would be willing to pay around £550 per month for this property. If purchased a little below its asking price of £75,000 then this would offer a gross yield of over 9%. There is no ground rent and with a large lease length, then you wouldnt need to worry about your investments value diminishing over the years. The service charge is £86.50 per month and take this away from your monthly rent, then this property offers a net yield of over 7.5%, which is fantastic in the City Centre.
The property is currently available through Belvoir Liverpool Central and a 1 bedroom apartment in the City won’t last too long at this price.