Mixed Use Investment for Sale

Features

  • Mixed use retail and residential investment in prime Crosby location
  • Established long term bakery on ground floor with separate residential opportunity above
  • Established retail location with strong local footfall
  • Prominent end terrace
  • Rental growth opportunity
  • Large 3 bedroom maisonette above
  • Strong rental growth with an estimated reversionary rent circa £26,000 pa (current passing £21,300)

Location

The subject property is located on College Road which is situated approximately 7 miles north of Liverpool City Centre in the suburb of Crosby.

College Road is a popular neighbourhood shopping destination within a larger residential population. The area consists of a mixture of retail to include convenience, leisure, takeaways, hair and beauty, post office, chemist and bars.

Directly adjacent to the property there is Marine Football Club with a pay and display car park. The subject property is located within a retail parade and benefits from strong footfall due to the adjacent car park and being directly opposite the Post Office.

Description & Specification

Retail:

  • Ground floor retail unit with glazed frontage and roller shutter security
  • Commercial kitchen with stainless steel fittings and preparation area
  • Counter/display area
  • WC, wash area and office space to rear
  • Rear access to shared service yard
  • Potential for additional signage (STP)

Residential:

  • Self-contained residential entrance from College Road
  • Spacious 3-bedroom duplex maisonette above
  • Large living room, fitted kitchen and family bathroom
  • Two front bedrooms with dormer windows
  • Third bedroom with Velux rooflight
  • Predominantly UPVC double glazing throughout
  • Gas-fired central heating system
  • Separate residential and commercial access
  • Attractive mixed-use investment opportunity
  • Shared rear space with opportunity for bike store etc

Ground Floor Tenant:

The ground floor trades as a bakery and is tenanted to Waterfield’s (Leigh) Ltd.   They are long established in this location and renewed their previous 10 year lease in 2024.

They currently occupy via a 10 year lease from 10th January 2024 with a tenant option to break at the end of the 5th year subject to 6 months prior notice providing c7.5 years unexpired and 2.5 years until break/review date.  There is an upward only rent review effective from 10th January 2029.

The passing rent is £10,500 pa.

Residential – Duplex Maisonette

Offered with vacant possession, the residential accommodation has its own dedicated entrance off College Road and provides completely self-contained accommodation.

A rare 3 bedroom opportunity with potential to rent individual rooms (STP) to young professionals or to a single tenant requiring extra accommodation. With 1,200 sq.ft of accommodation over 2 storeys plus ground floor entrance, it provides extensive space which will be attractive in the local market place.

Historically rented for £900 per calendar month or £10,800 pa  there is significant rental growth opportunity.

Estimated Rental Value:

Rent currently received totals £21,300pa.

The reversionary estimated rental value for the ground floor is £14,000pa at rent review.

The maisonette being a large 3-bedroom flat will rent from £1,000 per calendar month or £12,000pa.  Alternatively, a multi let managed approach could increase income significantly.

The total ERV is therefore from c£26,000pa.

Please rely on your own enquiries.

accommodation

Shop  (NIA)

Retail Zone A: 23.59 sq. m (254 sq. ft)

Rear kitchen/ancillary: 32.53 sq. m (350 sq. ft)

Total: 56.12 sq. m (604 sq. ft)

Residential (GIA)

Ground Floor: Hall – 4.9  sq.m (53  sq.ft)

First Floor: Landing, living room, kitchen and bathroom – 59.6  sq.m ( 641 sq.ft)

Second Floor: Landing, 3 bedrooms 49 sq.m (527 sq. ft)

Total: 113.5 sq.m (1,222 sq.ft)

price

£350,000

Rateable Value

All interested parties should rely on their own enquiries with the local authority.

VAT

All prices, outgoings and rentals quoted are exclusive of VAT, but may be liable at prevailing rate. Further information on request.

Terms

The premises are available at an asking price of £350,000.
Assuming previous passing rents of £21,300pa this reflects a gross initial yield of 6.1%.
At an ERV of £26,000 it would produce a gross reversionary yield of 7.4%.

Legal Costs

Unless otherwise stated all parties to bear their own legal costs.

EPC

The EPC rating for the commercial is B-43.

The EPC rating for the residential is E-51