2-4 RAKE LANE, WALLASEY -Smith and Sons

This property comprises an impressive pair of semi-detached buildings which have been converted to comprise ten self-contained flats. It is situated in a prominent position within easy walking distance of Liscard Town Centre and some five minutes drive from New Brighton Promenade with a wide of leisure facilities. A number of residential development schemes have recently been completed nearby. Rake Lane is a popular residential location both for rental and owner occupation and when fully let, this property will provide a rental in the region of £38,500 representing a yield of 13%. The flats have uPVC double glazing and electric heating and there is a fire alarm, emergency lighting and a smoke alarm. Both ground floor flats have their own access with shared access to the remaining flats from the side entrance halls of each building.

Details

Auction Date	19th September 2018
Lot Number	25
Guide Price	£290,000 to £300,000
Status	Available
Lot Type	Residential Investment
Address	2-4 Rake Lane, Wallasey, CH45 5DF view on map
Tenure	Freehold
Joint Agents	Bakewell and Horner, Wallasey
Viewing	By arrangement with the auctioneers.

Location

Accommodation

Accommodation	At the time of our inspection, we were unable to make an internal inspection of all of the units but from those inspected, we understand the accommodation of each flat comprises hall, lounge, double bedroom, bathroom and kitchen with the exception of the garden flats which have a living room/itchen, single bedroom and bathroom.
Externally	There are front and rear gardens together with a bin storage area.
Tenancies	The flats are let on assured shorthold tenancies at the following rentals:- 2 Rake Lane Flat 1 - Vacant Flat 2 - £350 pcm Flat 3 - £300 pcm Flat 4 - £325 pcm Flat 5 - £375 pcm 4 Rake Lane Flat 1 - £275 pcm Flat 2 - Vacant Flat 3 - £285 pcm Flat 4 - £325 pcm Flat 5 - £350 pcm When fully let there is a rental income in the region of £38,500 p.a.

Legal Pack

Back to Properties

£290,000 - £300,000