Manchester | Investment Property for Sale | VES-M3-001

Opportunity to acquire an apartment block with freehold in Manchester

£11,350,000

34-unit Block

VES-M3-001

INITIAL INVESTMENT

£3,441,000

Based on

deposit: £2,837,500

stamp duty: £568,000

mortgage fees: £1,500

conveyancing fees: £34,000

GROSS RENT

£656,864

GROSS YIELD

5.8%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

34

TENANCY STATUS

Vacant

FURNISHED

Yes

TOTAL SQ FT

18,042

PRICE SQ FT

£629

Please note that this is an off-market opportunity that is available to qualified buyers only.

Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.

Opportunity to acquire an apartment block with freehold located in Manchester which is currently under development and is expected to be completed in May 2021.

The block comprises 34 apartments spread over 5 floors:

  • 5 x studio apartments
  • 25 x 2-bed apartments
  • 3 x 3-bed apartments
  • 1 x 4-bed apartment

The total floorspace is approximately 18,042 sqft with the studio apartments having an average floorspace of 242 sqft each, the 2-bed apartments having an average floorspace of 498 sqft each, the 3-bed apartments having an average floorspace of 1,067 sqft each and the 4-bed apartment with a floorspace of 1,180 sqft.

Every apartment will have a bathroom and an open plan living room cum kitchen area, with high spec fitted units and appliances. Each apartment will come fully furnished.

Once fully let the apartment block is estimated to generate an estimated rental value of 5.1% NET (£656,864 pa, £54,739 pcm) guaranteed for 2 years.

The apartment block is located just off Deansgate in the city centre of Manchester. Transport links within the area are excellent. Nearby is the inner city's ring road which connects to all major roads leading out of the city and the national motorway network. The closest train stations are Manchester Victoria and Salford Central allowing travel to other cities across the North of the UK, including Liverpool, Leeds and Sheffield. The Metrolink station at Manchester Victoria also allows for travel across the city in around 10 minutes.

The vendor is seeking offers in the region of £11,350,000 (inclusive of freehold).

Please contact our sales team for further details.

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.

Point of reference - not exact location,

Manchester,

Greater Manchester,

England,

M2 1BB

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