Opportunity to purchase a 2-unit block in Golborne generating £9,620 rent pa & gross yield of 8.2%
£117,000
2-unit Block
VES-WA3-002
INITIAL INVESTMENT
£36,260
Based on
deposit: £29,250
stamp duty: £3,510
mortgage fees: £1,500
conveyancing fees: £2,000
GROSS RENT
£9,620
GROSS YIELD
8.2%
The block
TENURE
Leasehold
NO OF UNITS
2
TENANCY STATUS
Tenanted
FURNISHED
No
TOTAL SQ FT
977
PRICE SQ FT
£120
Leasehold information
- Length of lease: 999 years
- Year lease started: 1862
- Years left on lease: 839 years (from 2022)
- Ground rent: peppercorn
- Ground rent review period: n/a
- Service charge: n/a
- Service charge review period: n/a
Block information
- Mid-terraced house split into:
- 1 x 1-bed flat on the ground floor
- 1 x 2-bed flat on the first floor
- The flats have been refurbished within the last 3 years, see below for more information
- Each flat has its own electricity supply/meter and own water supply
- The vendor has never had problems letting either flat as the area is a great location for renting
- EPC ratings C
- Council tax band A
Refurbishment information
- New windows and front doors fitted in the past 3 years
- The ground floor flat has had the following works carried out in the last 6 months:
- New flooring throughout; mixture of laminate and lino flooring
- Newly tiled shower cubicle
- Fully repainted
- In July 2018 the ground floor flat also had these works done to prevent damp:
- DPC silicone cream injection
- Taking membrane system to all external walls
- Dry lining of walls
- Passive vents fitted in kitchen, living room and bedroom
- The first floor flat has had the following works carried out:
- New kitchen fitted
- New carpets and lino
- Fully repainted
Rental information
- The flats are fully tenanted
- The tenant of the 1st floor flat has been there for 2 years and is looking to stay for another 3 years
- Rent is paid on a weekly basis every Friday
- Total monthly rental income: £801.66
- Total annual rental income: £9,619.92
Location information
- The property is located to the north of Golborne town centre
- Golborne town centre is 0.5 miles from the property and can easily be reached on foot
- There are bus stops with regular services just a short walk from the property
- Newton-le-Willows railway station is the nearest station, 2.5 miles away
- Easy access to the A580
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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Floorplans
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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 Golborne, Greater Manchester
Golborne is a town in the Metropolitan Borough of Wigan in Greater Manchester. It lies around 5.5 miles south-east of Wigan, 6 miles north-east of Warrington and 14 miles west of Manchester.
The A580 runs south of the town leading to junction 23 of the M6 motorway. It also connects Golborne directly with Liverpool and Salford.
Newton-le-Willows is the closest railway station about 2 miles south of Golborne and is located on the Liverpool to Manchester Line. The TransPennine Express runs a regular service to Newcastle, whilst Transport for Wales services run between Manchester Airport/Manchester Piccadilly to Chester and Llandudno.
Golborne town centre offers a number of local shops including a butcher, craft shop, bakery, florist, gift shops, cafes, post office and restaurants and take-aways.
The Stone Cross industrial park is home to a number of local companies including Hovis Ltd, ALPLA, Ansell Electrical Products Ltd, Righton Blackburns Manchester and Magnavale Ltd, to name a few.
Church Street,
Golborne,
Warrington,
Greater Manchester,
England,
WA3 3TP
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