Opportunity to purchase an 3-unit HMO portfolio in Preston & Chorley generating a 8.2% gross yield

Preston, Lancashire

The Guild City of Preston lies in the heart of the beautiful Lancashire countryside, in the north west of England, and has a population of approximately 140,000. It lies approximately 27 miles north west of Manchester, 26 miles north east of Liverpool and 15 miles east of Blackpool.

Preston is very well connected by road with good access to the M6 from Rugby to Gretna, the M61 from Preston to Manchester, the M65 from Preston to Colne and the M55 from Preston to Blackpool. Preston’s railway station is on the West Coast Main Line and runs trains to London Euston, Glasgow and Edinburgh, Aberdeen, Inverness and Fort William. It is also a hub for connecting rail services in the north west with direct trains going from Preston to Blackpool, Lancaster, Blackburn, Bradford, Leeds, Wigan, Bolton, Manchester, Liverpool and Ormskirk.

Many notable buildings in the city are either Grade I or Grade II listed and include Harris Public Library, Museum and Art Gallery, the Preston Cenotaph, St Walburge’s Church, Arkwright House, Avenham Park, Harris Institute and Miller Arcade, to name a few. Preston is also home to the University of Central Lancashire (UCLan), one of the largest universities in the UK. Other colleges of further and higher education include Preston College, which has two campuses and offers A-Level and vocational courses, and an arts college. Preston College also has COVE status in retail. There are also Cardinal Newman College, TUC Education Unit and Royal Preston Hospital, a teaching hospital with a number of medical students from the University of Manchester based here for their clinical training.

One of the biggest employers is BAE Systems whilst other noteworthy employers include the Westinghouse Electric Company, Alstom Transport, Matalan, James Hall and Co and Skiddle. The Tulketh Mill building houses offices and call centres for TalkTalk, The Post Office, Student Loans Company, Team Knowhow and Carphone Warehouse. Due to Preston’s location and easy access to four motorways it is also home to several freight and haulage companies.

Chorley, Lancashire

Chorley is a town in Lancashire in northwest England. It lies around 8.1 miles north of Wigan, 10.8 miles southwest of Blackburn, 11 miles north-west of Bolton, 12 miles south of Preston and 19.5 miles northwest of Manchester.

The A6 runs through the town centre, connecting Chorley with Luton and Carlisle. The M61 motorway runs to the east of the town connecting it to Bolton and the Lakes. Junctions 6 and 8 serve Chorley. Junction 27 of the M6 also serves Chorley to the west of town, connecting it to Catthorpe Interchange and Gretna in Scotland.

Chorley railway station is located in the town centre and is on the Manchester – Preston Line. There are regular services to Blackpool North, as well as Manchester Airport via Manchester Piccadilly and Hazel Grove.

Chorley and its surrounding area offer a great variety of activities such as Astley Hall, Chorley Theatre, Cedar Farm Galleries, The Anderton Centre, Rock and River Outdoor Pursuits, Rivington Pike, Heskin Hall, Hoghton Tower and Rivington Country Park, to name a few.

Education is provided by several primary schools as well as six high schools. There are some independent schools outside the borough as well as Runshaw College in nearby Leyland. Lancashire College is based in Chorley and offers a wider range of courses.

The largest employers in the Central Lancashire area are Leyland Trucks and BAE Systems with sites in Leyland and Samlesbury. Other large employers are Telent, FedEx, DXC Technology, Multipart Solutions and Porter Lancastrian.