Manchester, M1 1BA | Investment Property for Sale | VES-M1-010

Opportunity to purchase an apartment in Manchester, generating £12,480 in rent pa and a gross yield of 5.8%

£215,000

Apartment

VES-M1-010

INITIAL INVESTMENT

£97,440

GROSS RENT / YIELD

£12,480 / 5.8%

NET RENT / YIELD

£9,599 / 4.5%

The property

TENANCY

Tenanted

TENURE

Leasehold

2 bedrooms

1 bathroom

1 reception room

965

Unfurnished

Leasehold Details

  • Length of lease: 150 years from January 2001
  • Service Charge: TBC
  • Ground Rent: £150

Floorplans

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

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£12,480

Equivalent of £1,040 per calendar month (PCM).

GROSS RENTAL YIELD

5.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£9,599

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.5%

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

FULLY MANAGED OPERATING COSTS

£2,881

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

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Manchester

Manchester is a city situated around 34.8 miles east of Liverpool and 39.4 miles south west of Leeds.

The two mainline railway stations serving this city are Manchester Victoria and Manchester Piccadilly. Manchester Victoria is a combined railways station and Metrolink tram stop which is managed by Northern. Westbound from this station twice an hour there is a service to Liverpool Lime Street and another two to Manchester airport via the Ordsall Chord and Manchester Piccadilly. TransPennine express operates 4 trains per hour via Huddersfield, Leeds and York, 2 of which continue to Newcastle, 1 to Middlesbrough and the other to Scarborough. Manchester Piccadilly is the busier of the two stations in terms of number of passengers. This station runs services by six train operating companies. Virgin Trains operate three trains per hour to London Euston, two via Stoke-on-Trent and one via Crewe. Northern provides local trains services to stations in the local Greater Manchester area as well as services to the north and west of Liverpool. Transport for Wales offers hourly services along the North Wales Coast Line via Chester to destinations in Wales. CrossCountry has one hourly service to Bournemouth via Birmingham, Reading and Southampton and another hourly service to Bristol Temple Meads. Getting around the city via public transport could not be easier, with the assistance of Manchester’s Metrolink tram, that has over 90 stops throughout the Greater Manchester area.

Manchester’s Central Retail District is filled with several restaurants and bars, as well as its extensive options of stores. In addition, there are also many cultural attractions around this area, including Manchester’s Opera house, Albert Square and multiple museums.

The Greater Manchester area is home to many big corporations’ headquarters, as it is seen as the growing hub for business in the north west region and is known as the main regional centre for public services. Companies such as Google, BBC, The Co-Operative Group, Kellogg’s and Thomas Cook run large parts of their operations all from the heart of this buzzing city.

This property is ideal for students in higher education in Manchester. Manchester is a major student city with over 50,000 full time students. The three top universities in the City are University of Manchester, Manchester Metropolitan University and University of Salford, which are all about half an hour away via public transport.

Dale Street,

Manchester,

Greater Manchester,

England,

M1 1BA

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