Bolton, BL1 1QD | Investment Property for Sale | VES-BL1-001

Opportunity to purchase an 82-unit block in Bolton generating £520,440 gross rent pa & 7.7% gross yield

£6,750,000

82-unit Block

VES-BL1-001

INITIAL INVESTMENT

£1,973,500

Based on

deposit: £1,687,500

stamp duty: £202,500

mortgage fees: £1,500

conveyancing fees: £82,000

GROSS RENT

£520,440

GROSS YIELD

7.7%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

82

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

23,084

PRICE SQ FT

£292

Block information

  • This block comprises:
    • 6 x 1-bed apartments
    • 75 x studio apartments
    • 1 x commercial unit on the ground floor
  • Spread over 6 floors (ground floor to fifth floor)
  • 2 lifts provide access to all floors
  • 11 tenant car parking spaces
  • EPC ratings C (apartments) & D (commercial unit)

Rental information

  • At the time of listing the occupancy rate is 96.3%, new tenants are being referenced:
    • The majority of tenants pay a monthly contribution for the utilities
    • Aggregate rental income for the let units incl. utility contribution: £41,815 pcm
    • Aggregate rental income for the let units incl. utility contribution: £501,780 pa
  • Once fully let the following rental income is expected to be achieved:
    • Aggregate rental income for the let units incl. utility contribution: £43,370 pcm
    • Aggregate rental income for the let units incl. utility contribution: £520,440 pa
  • The commercial unit is currently vacant and the vendor estimates that an annual rent of £150k - £200k is possible. Please note that this has not been added to the gross rent figures.

Location information

  • The property is located in the town centre of Bolton with many amenities on the doorstep
  • Bolton railway station is 0.3 miles from the property
  • Easy access to the A579 and road network

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.

The floorplans and the photos are examples of the apartments in this development. Layout and sizes will vary.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Bolton, Greater Manchester

Bolton is a town in Greater Manchester in North West England. Close to the West Pennine Moors, Bolton is 10 miles (16 km) northwest of Manchester. It is surrounded by several smaller towns and villages that together form the Metropolitan Borough of Bolton, of which Bolton is the administrative centre.

The investment potential of Bolton is greatly helped out by its proximity to the city of Manchester (only 20 minutes away), which means there is a constant demand of young people and professionals who see Bolton as a commutable location.

  • £1.2 billion investment in The Bolton Masterplan
  • 12-miles from Manchester city centre
  • 20-miles from Manchester Airport
  • 60% of UK businesses within a 2-hour drive
  • 1 million people live within 45 minutes
  • 12-minute train journey to Manchester
  • Direct access to the M61, M60, M62 and M6
  • Student numbers expected to double in the next 15 years
  • Economic output worth £4.6 billion
  • Home of major businesses such as Logistics North, MBDA, Aldi, Lidl, Amazon
  • Major shopping and tourist destination
  • Middlebrook is the largest leisure and retail complex in Europe

Bolton is building on its rich industrial and cultural heritage to meet the needs of a growing population – currently 280,000 and projected to exceed 300,000 by 2025 – and provide a modern, well-connected base for a diverse range of employers and residents.

Bolton use to rely on heavy industry but over the course of the late 20th century has been replaced by service-based activities such as data processing, call centres, hi-tech electronics and software companies. The Bolton Masterplan focuses on injecting investment into a number of sectors: retail, leisure, employment, education, residential and transport. Worth an enormous £1.2 billion, the Masterplan will rebuild the town centre, being 2000 new homes owing to the demands of the rental market and boost the economy further.

Bolton’s economic output is worth £4.6bn in its own right, and it forms an important part of Greater Manchester – the UK’s largest economy outside London. It’s home to Logistics North and is a distribution hub for major companies including MBDA, Aldi, Lidl, Amazon and Whistl.

The town is a major shopping destination for North West England, the Market Place which has recently undergone a £27m transformation. Less than six miles from Bolton, is Middlebrook, the largest leisure and retail complex in Europe and also serving as the location of Bolton Wanderers FC.

The University of Bolton is one of the fastest growing higher education institutions in the UK has also been a major player in the regeneration of the town centre, including a £31m research centre, a new business and law school. There are additional projects planned, including a £40m hall of residence to accommodate the growing student population, which is 13,000. The University of Bolton is expected to double its numbers over the next 15 years which undoubtedly creates even more demand for homes.

Bolton’s cultural assets are playing a key role in the town’s renaissance and hosts an extensive range of cultural events throughout the year, including Bolton Food and Drink Festival (attracting 250,000 people) and the Ironman UK race for nine years, which has now become the 4th largest in Europe.

Bolton’s infrastructure serves the population well with an extensive local road network and national routes. The A6, A666 dual carriageway, M61/M60 motorways serve the borough well and ensure connectivity to the area.

Bradshawgate,

Bolton,

Greater Manchester,

England,

BL1 1QD

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