Bolton, BL7 9HQ | Investment Property for Sale | VES-BL7-001

Opportunity to purchase an apartment in Bolton generating £6,000 rent pa and a gross yield of 6.7%

£90,000

Apartment

VES-BL7-001

INITIAL INVESTMENT

£41,200

GROSS RENT / YIELD

£6,000 / 6.7%

NET RENT / YIELD

£4,588 / 5.1%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£20

1 bedroom

1 bathroom

2 reception rooms

398

Partially Furnished

Leasehold information

  • Length of lease: 999 years
  • Year lease started: 1977
  • Service charge: NIL

Property information

  • Property underwent refurbishment in March 2019, see below for details
  • Property comes with a garage
  • The garage is not part of the tenancy agreement so could be rented out separately
  • 10-minute walk to Bromley Cross station, a direct route to Manchester city centre
  • Bromley Cross is a very desirable suburb in Bolton and is frequently ranked amongst one of the best places to live
  • EPC rating C

Refurbishment included

  • New carpet throughout
  • New lino flooring in kitchen and bathroom
  • Fully redecorated and painted throughout
  • New kitchen worktops installed
  • New lighting installed in hallway, living room and landing
  • All switches & sockets replaced with modern fittings

Note

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

Tenancy

RENT

£6,000 p.a. / £500 pcm

TENANCY DEPOSIT

£499

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

9 months ago

TENANCY AGREEMENT ENDS

4/7/2020

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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£6,000

Equivalent of £500 per calendar month (PCM).

GROSS RENTAL YIELD

6.7%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£4,588

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

5.1%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£1,412

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

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.

Rushey Field,

Bolton,

Greater Manchester,

England,

BL7 9HQ

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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