Studio for sale

Cheapside, Liverpool L2

Purplebricks are proud to offer this student studio apartment in The Bridewell Building . This is a hands off investment, fully managed by a letting management company.

Comprising a double bedroom area and a 3 piece en-suite shower room.

The property benefits from a communal lounge/kitchen area.

The building has a 24 hour concierge service with well presented communal areas a secure post room and a fully equipped gym.

With all three of the cities major universities within walking distance from The Bridewell. Liverpool John Moores is home to around 25,000 students and is only 5-10 minutes away, whilst the University of Liverpool and its 30,000 students can be reached in a further 5 minute walk.

The excessive demand for more developments just like The Bridewell stems from the fact that these universities only provide a mere 16% of student beds in Liverpool. With more and more young people selecting Liverpool’s great culture, history and nightlife for their higher education experience, this is leaving around 34,000 students without accommodation.

Although the property is empty for sale, it’s reassuring to know that there is always going to be a strong and consistent supply of students to this property. In fact, it boasts a 100% occupancy track record which has been proven since opening. Out of the 6,000 student beds currently being built throughout the city, this one offers the lowest prices, best rental returns and an unrivalled location.

Rent in 2023/2024 - £6120
Ground Rent - £250 annually
Management fee - £612 (10%)
Contract Fee Charge - £1136.61 (collected twice a year- subtotal £2273.22)
Payment three times a year

Property Ownership Information

Tenure

Leasehold

Council Tax Band

B

Annual Ground Rent

£250.00

Ground Rent Review Period

Every 1 year

Annual Service Charge

£2,372.00

Service Charge Review Period

Every 1 year

Lease End Date

29/08/2264

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as "draft". Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.