Preston & Chorley | Investment Property for Sale | VES-PR5-003

Opportunity to purchase an 3-unit HMO portfolio in Preston & Chorley generating a 7.9% gross yield

£1,300,000

3-unit HMO Portfolio

VES-PR5-003

INITIAL INVESTMENT

£440,250

Based on

deposit: £325,000

stamp duty: £112,750

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£102,660

GROSS YIELD

7.9%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

17 bedrooms

10 bathrooms

5 reception rooms

5,350

Fully Furnished

Portfolio information

  • Fully licenced HMO portfolio
  • All properties come with high specifications and will be sold furnished
  • The HMO portfolio is made up of:
    • 1 x 5-bed detached house
    • 2 x 6-bed detached houses
  • The properties range in size between 1,659 to 1,962 square feet
  • Each property comes with:
    • Fully fitted kitchen with all utensils provided
    • Kitchen benefits from a dishwasher, double fridge/freezer and double oven
    • Utility room with washer & drier operated on Tim 30 pay as used system
    • Conservatory/extension to the rear
    • Double-glazing throughout
    • Gas central heating
  • There are currently 5 reception rooms across the portfolio, taking in dining and living spaces
  • Opportunity to further convert some reception rooms into bedrooms to increase the rental income
  • Well-managed and very well-maintained portfolio which requires no further work or investment
  • EPC ratings: C
  • Council tax bands: D & E

Rental income

The properties are fully let to working professionals and currently achieve:

  • Aggregate rental income: £8,555 pcm
  • Aggregate rental income: £102,660 pa
  • Aggregate gross yield: 7.9%

Location information

  • Two of the properties are located in Bamber Bridge, Preston
  • The other property is located in Chorley

Available upon request

  • Portfolio breakdown
  • Running costs for each property
  • EPCs for all units

Note

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

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 Preston and Chorley, Lancashire

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.

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