Manchester, M4 7EP | Investment Property for Sale | VES-M4-001

Opportunity to purchase an apartment in Manchester generating £10,500 rent pa & gross yield of 5%

£210,000

Apartment

VES-M4-001

INITIAL INVESTMENT

£63,000

Based on

deposit: £52,500

stamp duty: £8,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£10,500

GROSS YIELD

5.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£150

SERVICE CHARGE

£1,800

2 bedrooms

2 bathrooms

1 reception room

796

Unfurnished

Please note that this property is for cash buyers only due to the outstanding EWS1 certificate

Leasehold information

  • Length of lease: 250 years
  • Year lease started: 2003
  • Years left on lease: 231 years (from 2022)
  • Service charge review period: annually
  • Ground rent review period: tbc

Property information

  • Located on the 3rd floor
  • Open plan living room/kitchen
  • Main bedroom has ensuite shower room
  • Shared family-size bathroom
  • New timer for water heater was installed in July 2020
  • New electric hob was installed in August 2018
  • New panel heater and timer was installed in May 2018
  • No EWS1 certificate in place, cladding costs are limited to <£500 with works due to complete in April 2023
  • EPC rating: C
  • Council tax band C
  • Monthly rental income £875

Location information

  • The property is located in the New Islington area of Manchester
  • The New Islington tram stop is less than 5-minutes walk from the property
  • Manchester Piccadilly is 0.7 miles away
  • Easy access to the A665

Note

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

Tenancy

RENT

£10,500 p.a. / £875 pcm

TENANCY DEPOSIT

£981

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

7 months ago

TENANCY AGREEMENT ENDS

2/1/2023

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.

Isaac Way,

Manchester,

Greater Manchester,

England,

M4 7EP

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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.

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