The Old Bank, a former Midland Bank branch on Everton Road, is on the market for £550,000 as a nine-bedroom house in multiple occupation (HMO) generating a rental income of £84,833.52 per annum.
The property, at the junction of Everton Road, Low Hill and Brunswick Road, was built in the 1920s to replace an earlier building dating back to 1876. It formerly operated as a branch of Midland Bank, once one of the Big Four banking groups in the UK. Midland Bank was acquired by HSBC in 1992, and by July 1999 the Midland Bank name had been phased out in favour of HSBC Bank.
Planning history and current use
In December 2016, Liverpool City Council granted planning permission to alter the building into three flats containing six, five, and three bedrooms respectively, as well as two additional studio flats and dormers. In February 2018, further permission was granted to convert the premises into six separate flats, and install dormers and a single storey side extension. These works were not carried out.
The Old Bank covers an internal area of approximately 322 square metres (3,465 square feet). The accommodation comprises a fully licensed, nine-bedroom HMO, with every room having a private en-suite bathroom. It also has three communal kitchen and lounge areas, dedicated storage facilities, and a utility room. The premises is spread across three floors, including a basement, ground floor and mezzanine.
Location and investment potential
The property is close to the University of Liverpool and Liverpool John Moores University. Transport links are provided by Liverpool Lime Street rail station. The property is marketed by Mooved UK, which describes it as a "high yielding investment opportunity" for landlords.
