Flat 5 31 South Drive, Wavertree, Merseyside, L15 8JJ

Description

A one bedroom self-contained flat within a converted Victorian semi-detached building in good condition having undergone a comprehensive renovation scheme in recent years. The apartment is available vacant possession and suitable for immediate investment purposes with a potential rental income of £7,500 per annum.

Accommodation

Ground floor, Communal entrance hall with stairwell to the first floor apartment. Entrance hall opening to a spacious open plan lounge/ kitchen with modern wall drawer and base units. There is a double bedroom and a smart three piece shower room.

Location

South Drive is located close to Wavertree’s Picton Road with a range of amenities including bars, restaurants and supermarkets.

Auction Information

Tenure

Leasehold. The legal pack is the definitive source for lease length, title, covenants, service charges, ground rent and special conditions.

Council Tax

Band A.

Investment Analysis

Market Comparables

Use recent Land Registry sold evidence and genuinely comparable current/let rental evidence for the same micro-location, accommodation, tenure and condition. Venmore’s stated rents or rental opinions are retained as auctioneer evidence where supplied; HB screening figures are not a formal valuation.

Proposed Works

HB desktop allowance: £5,000. Scope should be confirmed from inspection, photographs, survey and contractor pricing. Prioritise structure, roof/damp, services, heating/electrics, windows, kitchens/bathrooms, decoration and external works only where relevant to this specific property.

Rental Value

Low / Base / High Investment Scenario

Specialist Commercial Analysis

Verify occupational leases, passing rents, rent-review provisions, repairing obligations, VAT status, business rates, service costs and covenant strength. Mixed-use assets should be valued by component and income where appropriate.

Maximum Bid Indicator

Base the maximum bid on verified commercial/residential income and capital value, less buyer fee, works, legal/professional, finance, holding, contingency and required return. SDLT treatment may differ for mixed-use/non-residential purchases and is buyer-specific.

Strategy Recommendation

Income hold or refurbishment/re-letting, with redevelopment only where planning and title support it.

Strategy Rating

Income Hold: ★★★★☆ | Value-Add: ★★★★☆ | Development: ★★★☆☆

Key Risks

Lease length, ground rent, service charge and lender acceptability, listed-building constraints, legal-pack special conditions, condition/survey, finance and valuation risk.

Analysis Confidence

Medium for facts reproduced from Venmore’s particulars; low-to-medium for HB desktop works/value screens until inspection, legal-pack review, direct sold/rental comparables and contractor/QS pricing are completed.