Burnley, BB10 2AQ | Investment Property for Sale | VES-BB11-002

Opportunity to purchase a property in Burnley generating £62,400 rent pa & gross yield of 10.4%

£600,000

Terraced House

VES-BB11-002

INITIAL INVESTMENT

£190,500

Based on

deposit: £150,000

stamp duty: £38,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£62,400

GROSS YIELD

10.4%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

13 bedrooms

2 bathrooms

1 reception room

4,359

Fully Furnished

Property information

  • Recently refurbished property
  • Spread over 3 floors
  • Shared kitchen
  • Shared living room
  • The vendor pays all the bills
  • EPC rating E

Rental information

  • The property is fully let on a 6 months tenancy from April 2021
  • The tenant is on a rolling contract and not looking to extend for another fixed period
  • Monthly rental income £5,200
  • Annual rental income £62,400
  • The expected rental value for new tenants is £68,120 pa

Running costs

The vendor provided us with the following estimated running costs for this property:

  • Council tax: £267.25 pcm
  • Electricity: £250 pcm
  • Water: £ 83.33 pcm
  • Internet: £62.50 pcm
  • Total cost pcm: £663.08
  • Total cost pa: £7,957

Location information

  • The property is located just on the edge from the town centre
  • Shops and supermarkets are all within a short walking distance
  • Burnley Manchester Road railway station can be reached in less than 10-minute's walk
  • Burnley Central railway station is just over a 10-minute walk from the property

Note

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

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 Burnley, Lancashire

Burnley is a town in Lancashire, north-west England. It lies around 21 miles north of Manchester and 20 miles east of Preston.

Burnley is very well connected via road and rail. Junctions 9, 10 and 11 of the M65 motorway serve the town, running west to Accrington, Blackburn and Preston where it connects to the M6, and north-east to Nelson and Colne. There are several A roads going through town and the A56 dual carriageway links to the M66 motorway going to Manchester and the M62.

There are four railway stations in town, Burnley Manchester Road, Burnley Central, Burnley Barracks and Rose Grove. Trains are operated by Northern, with an hourly semi-fast service from Manchester Road to Preston and Blackpool North, Leeds and York. Whilst Central and Barracks stations run services to Blackpool South and Preston as well as Nelson and Colne.

Burnley is surrounded by the Pennine countryside and is ideally located for anyone who enjoys outdoor activities. For example, the Prairie Sports Village, which offers excellent facilities for golf enthusiasts. There is a golf course, driving range, mini golf, lessons and golf activities for juniors such as footgolf. At Thompson Park there are rowing boats or kayaks for hire, and at Clowbridge Reservoir activities include windsurfing and sailing. The town’s waterways are also ideal places for a walk or an escape into nature. On Crown Point Moor stands the iconic Singing Ringing Tree, a three-meter-tall steel sculpture.

Other attractions include the two historic houses Towneley Hall and Gawthorpe Hall. Towneley Hall is surrounded by historic parkland with woodland walks, formal gardens, sculpture and nature trails. There are annual cultural events such as the Burnley Literary Festival and the Canal Festival. The Mechanics Theatre and Burnley Youth Theatre offer a varied programme throughout the year for the whole family.

The manufacturing sector remains very strong in Burnley and key manufacturing employers are in highly specialised fields such as: Safran Aircelle (aerospace), GE (aerospace), AMS Neve (professional audio), TRW Automotive and Futaba-Tenneco UK (automotive components). Burnley still has strong economic links with Manchester and Leeds as well as neighbouring towns along the M65.

Nicholas Street,

Burnley,

Lancashire,

England,

BB11 2AQ

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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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