The Pervaiz Naviede Family Trust has added the stunning Crofton Hall in Aigburth to its residential property portfolio. The £4.2m acquisition comprises 26 properties set in a 2.5 acre estate, including the original mansion house with 11 apartments, and a further 15 houses within the elegant grounds.
One of the houses is part refurbished and offers an immediate opportunity to increase the value of the estate. Currently 21 of the 26 properties are let, giving The Trust further scope to increase the estate’s annual income by improving and letting the remainder.
Pervaiz Naviede Family Trust PRS portfolio worth £75m
The acquisition is the latest in a series by The Trust across the north as it expands its private rented sector portfolio to more than £75m and 675 properties. It is The Trust’s fourth acquisition in Liverpool and follows the purchase of 63 apartments and the freehold to Heysmoor Heights, a block of 98 apartments in Sefton, last year.
Renovated and developed in 2008, the mansion house was originally built in the mid 1800s for Alfred Holt, founder of the Blue Funnel Shipping Line. Located four miles south east of Liverpool city centre, the estate has a fascinating history having been used as an auxiliary hospital during the First World War.
The properties will be managed by the Pervaiz Naviede Family Trust’s residential arm, LPC Living, which is based in Salford. Simon Ashdown, director of LPC Living, said: “Crofton Hall is a beautiful heritage building which has been transformed into modern apartments that have proved popular with high earning professionals in the area. The conversion of estate buildings and the new build additions created 15 houses which provide larger accommodation and choice for potential tenants, including opportunities for families. We want to continue the sensitive development of the estate with the completion of the remaining unfinished buildings and will be investing in the upkeep and maintenance of this stunning property and its grounds.”
Other recent acquisitions for The Trust include 45 properties in Hull and a further 29 in Buxton, all part of a strategy to expand the PRS portfolio with high quality assets across the North. The Trust already owns properties in Manchester, Liverpool, Glasgow, Nottingham and Cambridge and has sites worth a further £10m currently under construction in London.
The Crofton Estate was marketed by Allsop on behalf of the administrator. The Manchester office of Gateley were the legal representatives acting on behalf of the Pervaiz Naviede Family Trust with Zameero Ltd acting as broker.