Opportunity to purchase a detached house in Oldham generating £13,200 gross rent pa & gross yield of 4.3%
£310,000
Detached House
VES-OL4-006
INITIAL INVESTMENT
£94,800
Based on
deposit: £77,500
stamp duty: £14,800
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£13,200
GROSS YIELD
4.3%
Long-term tenant
Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.
Benefits include:
- Steady income
- Minimised wear and tear
- Fewer void periods
The property
TENANCY
Tenanted
TENURE
Leasehold
GROUND RENT
£13
4 bedrooms
2 bathrooms
1 reception room
TBC
Unfurnished
Leasehold information
- Length of lease: 999 years
- Year lease started: 1979
- Years left on lease: 955 years (from 2023)
- Service charge: na/a
- Service charge review period: n/a
- Ground rent review period: tbc
Property information
- This property comprises of:
- 4 x bedrooms
- 1 x ensuite bathroom
- Shared bathroom
- Kitchen and dining area
- Lounge
- Rear garden, accessed via the kitchen
- The tenant spent around £8,000 on a new kitchen 3 years ago
- Off-street parking for 2 cars at the front of the house
- EPC rating E
- Council tax band C
- Monthly rental income £1,100
- Tenants have been in situ since 2019 and would like to stay
- Due to its close proximity to local schools and nurseries the property has always attracted young families and been in high demand
Location information
- The property is located in the Moorside area of Oldham
- Oldham town centre is 2.9 miles from the property
- There is a local convenience store a short walk from the property
- Easy access to the A672
Note
Please note that Vesta has not visited this property and the vendor has provided all material.
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 Oldham, Greater Manchester
Oldham is a large town in the Greater Manchester area in the north-west of England. It lies around 8 miles north-east of Manchester, 7 miles south of Rochdale and 4.5 miles north of Ashton-under-Lyne.
The town is linked to the M62 motorway via the M60 at Hollinwood and the A627(M) by Chadderton. There are a number of A roads that connect Oldham to Ashton-under-Lyne, Huddersfield, Manchester and Rochdale.
Oldham no longer has its own railway station but it is connected through the Manchester Metrolink to Manchester and Rochdale.
Some of the attractions in and around Oldham include Castleshaw Roman Fort, Huddersfield Narrow Canal, Saddleworth Museum, Dovestone Reservoir and Gallery Oldham. With its close proximity to the Peak District National Park there are plenty of opportunities for outdoor activities to choose from such as walking, cycling, horse riding, canoeing or rock climbing.
Throughout the year several events are being held such as Whit Friday Brass Bands contests, Saddleworth Rush Cart Festival, Illuminate, Diggle Blues Festival and Cotton Clouds Music Festival, offering a variety for everyone to enjoy.
Oldham town centre offers plenty of shopping opportunities with many independent shops as well as its two shopping centres, Town Square and the Spindles.
Historically the town’s economy was very strong in the manufacturing of textiles and mechanical engineering, but this has since been replaced by home shopping, publishing, healthcare and food processing industries.
Whinberry Way,
Oldham,
Greater Manchester,
England,
OL4 2NN
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