Location - Sefton/Princes Park, Liverpool
- Sefton/Princes Park
Originally known as Walton-on-the-Hill, in Liverpool, Merseyside, England, is an area situated to the north of Anfield and the east of Bootle and Orrell Park.View in Google Maps
With the highest level of international students and 3 Universities, the greatest level of post graduate stay behinds (people that continue to live in the area post study) as well as being an already industrious, young and vibrant city, Liverpool is an incredible HMO market. Easy access to the city on main travel routes is most important thing, and the building of a £350m largest UK Hospital here has begun now, increasing this further.View in Google Maps
Property available at Purchase Price of £220,000 (NOW AGREED)
This is a fantastic development opportunity to create a HMO of minimum 10 bedrooms situated in very close proximity to Sefton and Princes Park in the most popular room rental areas in the city.
The property is an 8 bedroom, 3 reception rooms property, with some of the rooms large enough to create additional bedrooms. For the sake of this document we will figure based on the 10 bedrooms that we know we have.
Floor plan has already been requested from the agent, hand drawings available on request.
We have been working on this property for some time now, the current owner has found a property in a different part of the UK that she wants to move to and has accepted that she needs a quick sale. Final decision due Monday 14th September, but we anticipate we will be around the level for purchase.
The property is in generally good condition. Within the last 5 years the owner was allocated a council grant which resulted in a new roof, new guttering, new double glazing throughout, new central heating system, new rewire (the grant was for £50,000 and the works completed by council approved tradesmen).
As such the majority of the works is largely cosmetic, although still a reasonable cost due to the size of the property itself.
Schedule of works imminent.
The property will need a change of use from C3 – Residential, to “Sui Generis” – Large HMO use. We have a strong history of this kind of conversion in the area, and the area has a very strong demand for room rentals.
Typically the cost would be circa £385 in fees for the application to the council for change of use and £1000 (+VAT) to the architect we use in this area (CV available on request).