Topic: Buying an Apartment in Liverpool City Centre or near the three Graces

[kopite321]

Morning All,

I am considering investing in an Apartment in Liverpool City Center or near the three Graces, not student accommodation... anyone on here deal in high end/ quality Apartments in the areas I mentioned above, or working on this type of development?

I am offloading some apartments I own in Makati, Manila in the Philippines to fund the above, looking for something up to 200k... it will be a cash transition...ta 

[gazzam1963]

I'd recommend Waterloo warehouse opposite Costco , huge duplex apartments and you can get one possibly around the 200k Mark . I worked on them when built and visit regularly for maintenance . There very well kept have 24 hour security lodge . There a 5 minute walk to old hall street and over the next ten years will have development heading toward and past it including the ten streets initiative .

They rent out really well to professional people and have plenty of character due to the original vaulted brick ceilings ..the external walls and ceilings are 3 foot solid brick so well sound proofed and are very warm flats even in winter . You can pm any questions as I know the block really well .

There is a also a new part of it , they were built once the original block was finished but there nowhere near the size and quality of the old block

[kopite321]

I'd recommend Waterloo warehouse opposite Costco , huge duplex apartments and you can get one possibly around the 200k Mark . I worked on them when built and visit regularly for maintenance . There very well kept have 24 hour security lodge . There a 5 minute walk to old hall street and over the next ten years will have development heading toward and past it including the ten streets initiative .

They rent out really well to professional people and have plenty of character due to the original vaulted brick ceilings ..the external walls and ceilings are 3 foot solid brick so well sound proofed and are very warm flats even in winter . You can pm any questions as I know the block really well .

There is a also a new part of it , they were built once the original block was finished but there nowhere near the size and quality of the old block

Thanks Mate ... will have a look when we come home at the end of the month ... thanks for taking the time out to come back to me. :-)

[kavah]

I have a bit of an interest in this so just commenting to bookmark really.

But I've done a little bit of research into buying flats in Liverpool (mainly just reading property articles) and one thing that strikes me as being a bit murky is when the property is leasehold (which I think applies to most flats in England). In times gone by the ground rent paid was often very low but this now seems to be changing - just something to be aware of. Often overseas the annual fees are for collective insurance, maintenance, admin, taxes etc (as one would expect). In England these collective annual fees seem to include an element of profit (gouging?). Just something to think about it you are not familiar with what's what in the English property market.

https://www.theguardian.com/money/2016/nov/05/ground-rent-scandal-engulfing-new-home-buyers-leasehold

(Worth reading the comments section also)
 

[kopite321]

I have a bit of an interest in this so just commenting to bookmark really.

But I've done a little bit of research into buying flats in Liverpool (mainly just reading property articles) and one thing that strikes me as being a bit murky is when the property is leasehold (which I think applies to most flats in England). In times gone by the ground rent paid was often very low but this now seems to be changing - just something to be aware of. Often overseas the annual fees are for collective insurance, maintenance, admin, taxes etc (as one would expect). In England these collective annual fees seem to include an element of profit (gouging?). Just something to think about it you are not familiar with what's what in the English property market.

https://www.theguardian.com/money/2016/nov/05/ground-rent-scandal-engulfing-new-home-buyers-leasehold

(Worth reading the comments section also)
 

Thanks mate... we will certainly look at that and ensure we ask the right questions... 

[gazzam1963]

A few good points by kavah and reminded me of something I forgot to mention , most are leasehold mainly due to the nature of ownership of the land , though some owners of certain blocks will collectively own the freehold just individually it's leasehold . Most flats also have a serve charge and the more facilities ( concierge etc) tend to be more per annum . But you will also get a better rental premium due to the better services .

The point I wanted to make about Waterloo warehouse and I'm not sure it will apply to many blocks of flats but there is what's called a sinking fund and it's a payment to be made when you sell the apartment , it's based on the idea the longer your there the more damage you've done to the roads lifts stairwells etc and to me it's a bit steep . From what I can recall its something like 0.5% of the selling price x the amount of years you've owned the property .