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Investment opportunity for sale in Hoylake

Hoylake, Wirral, CH47 2AF | Ref: 93731
For sale
£355,000
sidney-phillips
This property is marketed by:
Sidney Phillips

The potential yield as an investment is in the region of 8.11%

Key Features:

  • Desirable Wirral location
  • Mixed use property
  • Located on the commercial high street
  • Restaurant currently let
  • Well appointed duplex apartment
  • Investment opportunity

Description

Mixed use property in busy high street location in the affluent Wirral suburb of Hoylake with potential yield of 8.11%

Location

36 Market Street is located in the Wirral seaside town of Hoylake which sits on north west of the Wirral Peninsula where the River Dee meets the Irish Sea. Its coastal location lends itself to walking and cycling routes and the beautiful Hoylake beach. The town is home to Royal Liverpool Golf Club and hosts a variety of independent shops, bars and restaurants.

The A553 links the town to junction 2 of the M53 motorway providing links to Liverpool, Cheshire and North Wales. Hoylake and Manor Road Railway Stations serve the town and operate on Merseyrail’s West Kirby line. 

The property is located on a busy and vibrant commercial high street and holds a mid-terrace position of brick construction over three-stories. 

Property

TRADE AREAS 

GROUND FLOOR

Entrance leading to open plan TRADE AREA split into two sections and comprises LVT commercial flooring throughout, loose and booth seating to accommodate approximately 80. Wood panelled and exposed brick walls with stainless steel fronted bar servery with wood top bar mirrored back bar. TOILETS offset. Well equipped COMMERICAL KITCHEN to the rear with altro non-slip floor, hood canopy, multiple prep and wash up areas. Large STORAGE area for the main kitchen area to accommodate freezers and food storage, the trade area is decorated and furnished to a high standard throughout. 

OWNERS ACCOMMODATION 

Private access leading to first floor. Spacious LOUNGE featuring laminate floor, painted plaster walls, brick fireplace. MASTER BEDROOM with ENSUITE. Well appointed KITCHEN with island, fitted appliances and units, featuring laminate floors. ORANGERY leading out to BALCONY with ROOF TERRACE. Large OUTBUILDING prime for development and additional rental income , with private entrance to the rear of the property.

SECOND FLOOR

OFFICE. Large FAMILY BATHROOM. Two DOUBLE BEDROOMS. Roof space with ladder access and good sized LOFT. 

The Business

The ground floor trade area Velvet Bar and Grill is currently let on a 6 year lease which commenced in September 2022 and receives rental income of £16,800 per annum with rent reviews every 3 years. Our clients currently reside in the living accommodation above the business and have overseen huge investment in this area of the property and could achieve in the region of £1,200 per calendar month on the residential rental market or prove hugely popular as a holiday let with much demand in the area. The potential yield as an investment is in the region of 8.11%.

Tenure

Virtual Freehold £355,000 (999 year lease from 25th March 1921 with an annual peppercorn rent of £1.50 per annum).

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only. 

Licence

A full premises licence is held for the Velvet Bar & Grill, held by the Tenant.