Selection of 15 Apartments, Queensland Place, Queensland Street, Liverpool, Merseyside

Description

A selection of 15 leasehold units. City centre and close to The University of Liverpool and The Royal Liverpool Hospital. Part investment. Portfolio comprising units 208, 245, 187, 270, 229-cluster 43, 230 cluster 43, 231 cluster 43, 232 cluster 43, 233 cluster 43, 234 cluster 43, 280 cluster 53, 281 cluster 53, 282 cluster 53, and 283 cluster 53, 284 cluster 53.

Accommodation

15 student cluster/studio apartments with communal ancillary areas.

Location

The property is situated on Queensland Place (Harbord Street), to the east of Liverpool city centre and well positioned for the University of Liverpool. Transport options include Liverpool Lime Street Station, local bus routes, ferry options and road links via the A59, M62 and M57.

Tenure / Property Information

Investment Analysis

Guide price is £195,000, equivalent to approximately £13,000 per apartment before buyer costs. The supplied sold comparables are older transactions from 2016/2017 and do not provide sufficiently current or unit-specific evidence for a reliable portfolio GDV. Five units are let and nine are vacant or subject to pending applications. Ground rent is £350 per unit per annum, implying £5,250 annually across 15 units, while service charge information is unavailable. The £1,800 buyer documentation fee is known, but potential seller charges are not.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the special conditions, service charge and ground-rent details, tenancy schedules, unit-by-unit condition information, compliance documents and current rental evidence before considering the portfolio as a long-term student investment.

Works Required

No physical defects or refurbishment requirements are evidenced. Before proceeding, verify the condition of all 15 apartments and communal areas, the status of vacant units and any works required to re-let them. Obtain the full service charge, heating, parking and compliance information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably without verified rents, operating costs, condition, service charge, current value evidence and refinance terms. The 239 years remaining on the leases is stated, but leasehold liabilities and the substantial vacancy level require verification before relying on refinancing.

Buy-to-Let Analysis

A BTL assessment cannot be quantified because no passing rents, rental listings for the apartments or auctioneer rent estimate are supplied. Five units are let, but the income and tenancy terms are unknown. Nine units are vacant or pending applications. Ground rent alone is approximately £5,250 per annum across the portfolio, before unknown service charges, management, maintenance, finance and other costs.

Flip Analysis

A flip analysis cannot be supported because no refurbishment budget, current portfolio GDV or supported selling allowance is available. The supplied comparable sales are dated 2016/2017 and are not sufficient to establish a resale value for this 15-unit portfolio.

Investor Risks & Due Diligence

• Nine of the 15 units are vacant or subject to pending applications, creating material void and letting risk.

• Passing rents and tenancy terms for the five let units are not supplied.

• Annual service charge is unknown.

• Ground rent is £350 per unit per annum, approximately £5,250 annually across the portfolio.

• Potential additional seller fees may apply under the special conditions and are not quantified.

• The supplied comparable sales are historic and do not establish current value for the portfolio.

• Parking, heating and other property details require confirmation from the auction centre.

Recommendation

Do not bid on the current evidence alone. Obtain the special conditions, service charge and ground-rent details, tenancy schedules, unit-by-unit condition information, compliance documents and current rental evidence before considering the portfolio as a long-term student investment.

Strategy Rating

Analysis Confidence

The guide price, tenure, lease term, unit count, occupancy summary, ground rent and buyer documentation fee are supplied, but current rents, service charges, condition, GDV evidence and potential seller charges are unavailable.