Bolton, BL3 2JW | Investment Property for Sale | VES-BL3-004

Opportunity to purchase a 70-unit broken block in Bolton with the potential to generate a gross yield of 6.5%

£7,717,050

70-unit Broken block

VES-BL3-004

INITIAL INVESTMENT

£2,232,274

Based on

deposit: £1,929,263

stamp duty: £231,512

mortgage fees: £1,500

conveyancing fees: £70,000

GROSS RENT

£498,000

GROSS YIELD

6.5%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

70

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

39,341

PRICE SQ FT

£196

GROUND RENT

£17,500

SERVICE CHARGE

£70,814

The vendor is open to selling individual units, please get in touch if you are interested.

Block information

  • New build block with an estimated completion of January 2022
  • This is a block of 88 apartments of which 70 apartments are left for sale, comprising:
    • 19 x studio apartments
    • 37 x 1-bed apartments
    • 14 x 2-bed apartments
  • Spread over 5 floors (ground to 4th floor)
  • Secure communal entrance
  • Secure bike storage
  • 52 parking spaces for the whole block
  • Lift access to all floors
  • EPC ratings: tbc following completion

Leasehold information

  • Length of lease: 250 years
  • Year lease started: tbc
  • Ground rent: £250 pa for each apartment
  • Service charge: £1.80 psf pa (anticipated)

Rental information

Once fully let the following rents are expected:

  • Aggregate monthly rental income: £41,500
  • Aggregate annual rental income: £498,000
  • Aggregate gross yield: 6.5%

Location information

  • The block is located in the Great Lever ward of Bolton
  • Bolton city centre is a 15-minute walk away
  • Bolton railway station can be reached in 10 minutes on foot
  • Easy access to the A666 which links directly to the motorway network

Note

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

The floorplans are examples of a studio, 1-bed and 2-bed apartment in this development. Layout and sizes will vary.

At the time of listing there are no EPCs available for this property. However, Vesta will add these as soon as they have been received.

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.

Nelson Street,

Bolton,

Greater Manchester,

England,

BL3 2JW

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