Buying Repossessed Investment Properties in Liverpool

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There has never been a better time to buy investment property in Liverpool, given the vast rise in the number of repossessions nationwide and the fact that the city is such a desirable place to live, having earned the title of the European Capital of Culture in 2008.

Liverpool has lots to offer, and has been undergoing extensive regeneration over the last 15 years or so. Tourist facilities have been created and improved, and there are many such attractions within the city centre: Albert Dock, a huge waterfront arena, and the Tate art gallery, to name but a few.

Since the regeneration of the city centre, the appeal of city living has steadily increased and there are over 15,000 residents at present in the centre of Liverpool; city living appeals to professionals, students, and retired couples alike. The skyline of Liverpool is dominated by city centre apartment blocks, and these are a mix of historic buildings and impressively futuristic modern buildings.

In the area immediately surrounding the city centre, there are many terraced houses, providing ideal accommodation for students or families who wish to be near to all the action.

Shopping in Liverpool is an experience not to be forgotten; along with the usual high street stores, the city features many a designer store, including Vivienne Westwood, Jimmy Choo, Prada, Cricket, Diesel, and Miss Sixty.

Nightlife in Liverpool is the envy of the North West; there are many nightclubs, bars, and restaurants. The Cavern Club, old haunt of the Beatles, is well worth a visit.

Liverpool, although a busy city, has many green spaces, and St Johns park (the only park within the city centre) provides an excellent place to ‘get away from it all’. Transport links within and outside of the city are also excellent.

Buying-Repossessed-Properties

We can help you to find an investment property in Liverpool.

Spotted on the site was a 3 bed house in Liverpool city centre for a guide price of £40,000. The guide price did reflect the fact that the property is in need of refurbishment, yet it still represents excellent value for money – the average selling price for a terrace property in the area is £146,700.

Even if the property was bought for double the guide price and had £20,000 spent on refurbishment, there would be a profit of thousands of pounds. Also, a 3 bed house in the centre of Liverpool attracts a rent of £737 per month, so, if the buying price of the above house was £80,000, the annual yield, taking into account refurbishment costs, would be an attractive 8.8%.

There are also many investment repossessed properties for sale at auction in the areas surrounding Liverpool city centre. The key is to buy in areas undergoing regeneration and where demand is generally high – check out an area before purchase, and avoid areas of high crime.

The average price of a flat in Walton is £80,000, this flat again poses excellent investment potential. The average rental value of a 2 bed apartment in Walton is £486 per month, and, if the flat in question sold for £65,000, this would bring a gross annual yield of 8.9%.

Venmore have a 3 bed terraced property for auction in Everton, Merseyside, with a guide price of £40,000. Given that the property has a cellar, new boiler, is carpeted throughout and is suitable for immediate occupancy, it has the potential to be an excellent investment opportunity.

Everton is ideally situated only 1.5 miles north from Liverpool city centre, and the average selling price of a similar property in the area is £80,000. The house could also command a rent somewhere in the region of £467 per month, so, if the property sold for £60,000, there would be a very attractive annual yield of 9.3%.

There are hundreds of repossessed properties sent to auction in Liverpool, and many of these do possess excellent investment potential. Try to buy properties in fair to good order, and stick to desirable or up-and-coming areas – properties in undesirable areas will be much harder to let.

James Kersh, director of Sutton Kersh, one of Merseyside’s biggest independent property agents, advises:

“More and more repossession properties have been coming to auction over the last 12-18 months. The auction room provides the opportunity of achieving a quick sale – a sale can complete in as few as 8 weeks. At a time when there is an increasing number of distressed vendors in the market, higher quality stock that would normally be sold on the high street is now going under the hammer in auction rooms.

There are some exceptional deals to be had in the current market and anyone with cash that is looking to invest in property should certainly consider doing so now. As confidence improves and people start buying, stocks of the best deals will deplete and investors could miss out.

The message is, if you have the cash, buy property, when considered as part of a long-term plan, is a safe investment. Prices may not rise to the dizzy heights that we have seen in the past, but buyers should get a good return on any purchases made now when the market eventually recovers”.

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