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  • Property-a-holics

    Liverpool Central

    Hi All,

    Best area in Liverpool for a two bed apartment preferably with parking space (unlikely I know). For under 200k? Possible?

    Paul

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    Rightmove shows 240 such properties in Liverpool centre, with several under £100k

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    Thanks Peter,

    I know... it was advice on the area I was looking for. So if you have an idea about the place it would be much appreciated.

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    Hi Paul

    I only really operate my business  in the Liverpool | Wirral | Merseyside as well as being born here, so I know the area really well. What do you want to know?

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    Thanks...Mark

    Hi,

    My home is currently Suffolk, my rental portfolio is in Birkenhead and I'm not resident in UK for long periods. Suffolk house is up for sale and I need/must have a residential address in the UK. So was thinking of buying a city centre apartment (hence the Liverpool idea) that can be AirBnB'd when I'm not using it...

    The only thing that puts me off with an apartment is the associated costs. Ground Rent, Service charge etc.. I also don't want to use up too much of the funds from the Suffolk sale hence the 200k ceiling but ideally I'd prefer to be spending much less.

    Doesn't have to be Liverpool though... My son attends Bolton University and I know Birkenhead fairly well, it's the AirBnB aspect thats somewhat important.

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    Hi Paul

    AirBnB is a great idea if it's in the right area. Liverpool currently has a deficit in hotel rooms at weekends...Amazing when you think that 12 years ago there was only 4/5 hotels...So the idea has real merit. In fact I have been at Lime Street Station today as I was travelling back from London and I could not move due to hen parties, stag do's, etc, it was absolutely rammed.

    I own a few HMOs in Liverpool and I also work with property developers in Merseyside and the market is booming in every area and the only thing I would be careful with is student accommodation as there is way too much of it and lenders are wary.

    Birkenhead...I would only invest in the Hamilton Square area but that's a personal choice. Yields are great but if you choose the wrong area you will be in trouble.

    So, if was me in your shoes I would look at the following areas for AirBnB in Liverpool:

    Wavertree / Sefton Park area / South Liverpool in general - very hipster and very cool and some areas are gentrified

    Baltic Triangle on the border of Toxteth (please don't let that put you off - it's not what you may think and it borders the city centre) - media types moving in, also very cool and hipster and some absolutely fantastic properties

    Crosby/Waterloo - A bit further out but very desirable and the beaches are close at hand

    These are the areas I would choose as I could happily live in them but also know they will be in demand for AirBnB. By the way, your money will go a lot further in Wavertree area if you can get a property there.




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    Thanks...Mark

    great thanks much appreciated...

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    Hi Mark,

    in relation to posts previously discussed, 1 or 2 bed minimum?4

    Your opinion on this please...

    https://www.rightmove.co.uk/property-for-...06154.html

    regards

    Paul

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    Hi Paul

    I'm no expert on AirBnB so I'm not going to give an opinion here. All I know is that AirBnB properties are what all of my developer contacts talk about, simply because of the lack of available hotel space at weekends.

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    Thanks...Mark

    Hi Mark,

    Sorry my fault. I meant what do you think about the location of the apartment I sent you?

    regards


    Paul

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    Anywhere in the centre (L1, L2 and certain parts of L3). There are some good deals at the moment on resales in Tobacco Wharf as well (L5). L8 is also good, and coming up. Be very careful buying offplan apartments in Liverpool - whole developments have gone bellyup and the investors have lost all their money (New China Town, Birchen House in Birkenhead), but if you negotiate a good price, and are prepared to take some risk, you can get excellent deals. Airbnb'ing in Liverpool is not as good as some people make out: yes, you can make a stack over weekends, but holiday lets mainly rent to large groups over the weekends. During the week, most are sitting empty. You also have to pay a specialist agent to manage it for you, if you're not there. It's worth going onto the airbnb site and looking for properties as a guest in Liverpool - you'll see that prices are usually very low, except at the weekends, and if you check the bookings, again, it's mainly weekends that these apartments are booked for. The agent will take at least 15%. Another very big risk with apartments in Liverpool is that many are in old listed buildings that have been converted into "luxury" apartments (actually, very few are what I'd term luxury, and most of the builds and fittings are very sub-par). These buildings are usually very inefficient and require a lot of maintenance and what that means is that after two or three years the block manager (which is a profit-making enterprise such as Keppie Massie) decides they're not making enough money, and anyway, the building needs to be converted to electric heating rather than oil (example: old national bank building in Fenwick Street) and the service charge literally triples over night, cutting the resale value of your property in half. You then need to reckon on 3-4 months' worth of rent going just to pay your service charge, i.e. it's only in the 4th of 5th month that you start actually making any money! Very bad overall return. By the way, all my new build purchases have suffered massive delays and I'm in legal disputes with two of them over unpaid guaranteed rent. 

    Anyway, if you must buy an apartment in Liverpool, think about the above postcode, and also Wavertree, as you can pick up some deals there and it's increasing in value. The Sefton Park area is already way over priced - there's one three bed being advertised for 950k! Good luck...

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