Opportunity to purchase a 7-unit portfolio in Manchester generating £54,540 rent pa & gross yield of 7.2%
£755,000
7-unit Portfolio
VES-M30-004
INITIAL INVESTMENT
£219,900
Based on
deposit: £188,750
stamp duty: £22,650
mortgage fees: £1,500
conveyancing fees: £7,000
GROSS RENT
£54,540
GROSS YIELD
7.2%
The portfolio
TENURE
Leasehold
NO OF UNITS
7
TENANCY STATUS
Tenanted
FURNISHED
Yes
TOTAL SQ FT
2,304
PRICE SQ FT
£328
GROUND RENT
£1,750
The vendor is open to selling the apartments individually. Please get in touch if this is of interest to you.
Portfolio information
- The portfolio comprises:
- 6 x studio apartments
- 1 x 1-bed apartment
- Located in an 18-unit block that was fully refurbished in 2019
- Apartment sizes range from 22.3 sqm to 52.4 sqm
- The apartments come fully furnished
- Off-road parking is available
- EPC ratings: D
- Council tax band: A
- Fully tenanted
Leasehold information
- Length of lease: 999 years
- Year lease started: 2018
- Years left on lease: 994 years (from 2023)
- Service charge: £201-£259 per quarter per apartment
- Service charge review period: tbc
- Ground rent review period: tbc
Rental information
- The 7 apartments are fully tenanted and generate:
- Monthly rental income: £4,545
- Annual rental income: £54,540
Location information
- The properties are located in the sought-after area of Monton Village in Ellesmere Park
- Manchester city centre is around 4.5 miles from the property
- There is a bus stop with regular services into the centre of Manchester a short walk away
- Eccles railway station is the nearest station, a 9-minute walk from the property
- Easy access to the M602 via Junction 2
Note
Please note that Vesta has not visited this property and the vendor has provided all material.
Need more information?
REQUEST PORTFOLIO DETAILS
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 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.
What makes us different?
Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.
Benefits include:
- Buy tenanted property
- Huge choice for all budgets
- View property performance data
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.
Authorised and regulated by the property ombusdman
Copyright © 2023 Vesta Global Limited. All rights reserved.