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High Yielding Care Home Investment
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for sale
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Location
Birkenhead is a large town located on the Wirral Peninsula in Merseyside, on the west bank of the River Mersey directly opposite Liverpool. The town benefits from strong transport links and proximity to major road and rail networks.
Birkenhead is located approximately 6 miles (10km) west of Liverpool via the A41, Manchester is 45 miles (72 km) to the East and easily accessible on the M62. Birkenhead lies some 200 miles (322km) north-west of Central London accessible via the M53 which connects with the wider national motorway network.
Birkenhead is only 8 minutes by rail from Birkenhead Central to Liverpool Lime Street. Liverpool Lime Street is the main intercity hub and provides easy connections to London in a little over two hours and Manchester in approximately one hour.
Liverpool John Lennon Airport is only 12 miles (19km) south-east of Birkenhead.
Summary
- For sale on behalf of Fixed Charge Receivers
- New 20-year lease with CPI + 1% per annum rent increases
- Tenant – Salisbury Independent Living, housing association
- Effectively Government-underwritten income
- Freehold
Situation
Carrigeen is situated in Oxton, a popular suburb of Birkenhead known for its attractive residential streets and vibrant local community. A wide range of cafés, restaurants, and takeaways are within easy walking distance, alongside supermarkets including Sainsbury’s, Tesco, and Iceland, all within 0.2 to 0.5 miles (0.3 to 0.8km).
The Pyramid Shopping Centre, approximately 1.2 miles (1.9km) away, offers over 100 retail outlets such as Boots, JD Sports, Next, and Pandora in addition to Banks plus a food court and two multi-storey car parks with parking for over 1,100 vehicles.
Birkenhead is benefiting from a £25 million Towns Fund investment supporting various regeneration initiatives, further enhanced by additional funding from Homes England and the Liverpool City Region Combined Authority through the Birkenhead Urban Village project.
Description
The property is a three-storey detached Victorian house comprising of seven one-bedroom flats. The flats are self-contained each benefitting from one bedroom plus a reception room, kitchen and bathroom with the exception of the basement which is configured with one bedroom for overnight support staff and a communal kitchen and communal lounge.
There is one flat at basement level and a further two flats per floor on the ground floor, first floor and second floor. The flats are accessed via a communal entrance, the communal area also provides access to a rear garden with a neat lawn and a patio area. There is a paved area in front of the house with parking for four vehicles.
Accommodation
The property has been measured by BKR Floorplans and provides the following accommodation:
| Gross Internal Area floor by floor | ||
| Basement | 52.77 sq m | 568 sq ft |
| Ground Floor | 115.10 sq m | 1239 sq ft |
| First Floor | 115.38 sq m | 1242 sq ft |
| Second Floor | 111.39 sq m | 1199 sq ft |
| Total Gross Internal Area | 394.64 sq m | 4248 sq ft |
| Gross Internal Area – Flats | ||
| Flat 1 | 45.89 sq m | 494 sq ft |
| Flat 2 | 48.03 sq m | 517 sq ft |
| Flat 3 | 50.26 sq m | 541 sq ft |
| Flat 4 | 53.42 sq m | 575 sq ft |
| Flat 5 | 48.87 sq m | 526 sq ft |
| Flat 6 | 50.82 sq m | 547 sq ft |
| Total Gross Internal Area – Flats | 297.28 sq m | 3200 sq ft |
A set of floor plans is available to download, and the measured survey report will be re-addressed to the purchaser.
EPC
| Basement Flat | C | Valid until 7th August 2033 |
| Flat 1 | C | Valid until 7th August 2033 |
| Flat 2 | C | Valid until 7th August 2033 |
| Flat 3 | C | Valid until 7th August 2033 |
| Flat 4 | C | Valid until 7th August 2033 |
| Flat 5 | C | Valid until 7th August 2033 |
| Flat 6 | C | Valid until 7th August 2033 |
Tenure
Freehold.
Tenancy
The property is let to Salisbury Independent Living (company number 03966646) for a term of 20 years from XXX, on full repairing and insuring terms.
Rents are paid quarterly in advance. Rent reviews are annual, upwards only, in accordance with increases in the Consumer Price Index plus 1%.
The current passing rent is £x per annum.
VAT
The property has not been registered for VAT.
Proposal
The property is available as part of the portfolio for which we are instructed to seek offers in the region of £x (xx Million, XX Thousand Pounds).
Investment Considerations
An opportunity to acquire an investment within the care sector
The property is let on a new 20 year lease
The lease provides for rent increases based upon CPI + 1% annually
The rent is effectively underwritten by Government, thereby providing secure income
The property forms part of a portfolio, available at an attractive net initial yield
Disclaimer
Fixed Charge Receivers Andrew Pear and Milan by the powers given by the Mortgage and all other powers given by statute or otherwise who act as agents for the Company and without personal liability. Both Fixed Charge Receivers are licenced by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.
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Contacts
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Singer Vielle
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