McKenna Buildings, Dock Road, Birkenhead, Merseyside CH41 1DQ

Description

Description A former office building and warehouse extending to approximately 634.80 Sq M (6,833 Sq Ft)* on a site of 0.15 Hectares (0.37 Acres) with planning consent for conversion of the office building to provide 10 residential units.

The property sits in a prominent position fronting Dock Road (A5139), opposite Millers Quay, on the edge of the Wirral Waters development scheme. The Kingsway Tunnel is 0.5 miles, providing access to Liverpool City Centre, and Birkenhead is less than 2 miles to the south.

The property provides an opportunity to take advantage of the wider redevelopment taking place surrounding the Wirral Waters scheme and has potential, subject to obtaining necessary consents, for a larger redevelopment of the site. * Floor areas obtained from VOA website.

Accommodation The proposed scheme will provide the following accommodation: Flat 1: Lower Ground/Ground Floor - 1 Bed - 59 Sq M (635 Sq Ft) Flat 2: Lower Ground/Ground Floor - 1 Bed - 58 Sq M (624 Sq Ft) Flat 3: Ground Floor/Lower Ground - 2 Bed - 80 Sq M (861 Sq Ft) Flat 4: Ground Floor/Lower Ground - 2 Bed - 90 Sq M (969 Sq Ft) Flat 5: First Floor - 1 Bed - 41 Sq M (441 Sq Ft) Flat 6: First Floor - 2 Bed - 67 Sq M (721 Sq Ft) Flat 7: First Floor - 1 Bed - 41 Sq M (441 Sq Ft) Flat 8: Second Floor - 1 Bed - 41 Sq M (441 Sq Ft) Flat 9: Second Floor - 1 Bed - 42 Sq M (452 Sq Ft) Flat 10: Second Floor - 2 Bed - 69 Sq M (743 Sq Ft) Site Area Approximately 0.15 Hectares (0.37 Acres) Tenure Freehold Planning The property benefits from planning consent (RETX/23/01582) for the conversion of the existing office building to 10 residential units.

For any pre-application advice, interested parties should consult directly with the Local Planning Authority: Wirral Council, PO Box 290, Brighton Street, Wallasey, CH27 9FQ. Telephone: 0151 606 2000. Email: planningapplications@wirral.gov.uk Occupancy Vacant possession upon completion

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• Specialist asset: working market value is estimated from guide, asset type, income/development potential and local market evidence; midpoint £590,000.

HB estimated GDV: £543,000 low / £590,000 base / £637,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Strategy & Value Analysis

This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.