Manchester, M15 5JR | Investment Property for Sale | VES-M15-001

Opportunity to purchase an apartment in Manchester generating £9,000 rent pa and a gross yield of 5.3%

£170,000

Apartment

VES-M15-001

INITIAL INVESTMENT

£77,400

GROSS RENT / YIELD

£9,000 / 5.3%

NET RENT / YIELD

£5,030 / 3.0%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£250

SERVICE CHARGE

£1,632

2 bedrooms

1 bathroom

1 reception room

872

Unfurnished

Leasehold information

  • Length of lease: 250 years
  • Year lease started: 2007

Location information

This property is situated in the popular Life Buildings development, which has a number of local amenities on the doorstep, including local shops and markets. A bus goes to Oxford Road and the Universities and Deansgate is only a two-minute drive away.

Note

We are currently awaiting interior photos and the floorplan.

Tenancy

RENT

£9,000 p.a. / £750 pcm

TENANCY DEPOSIT

£750

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

12 months ago

TENANCY AGREEMENT ENDS

Periodic

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

£9,000

Equivalent of £750 per calendar month (PCM).

GROSS RENTAL YIELD

5.3%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£5,030

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.0%

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

FULLY MANAGED OPERATING COSTS

£3,970

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 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.

Hulme High Street,

Manchester,

Greater Manchester,

England,

M15 5JR

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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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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