Salford, M5 4SS | Investment Property for Sale | VES-M5-007

Opportunity to purchase a 12-unit broken block in Salford generating £105,540 rent pa & gross yield of 6.1%

£1,740,000

12-unit Broken block

VES-M5-007

INITIAL INVESTMENT

£500,700

Based on

deposit: £435,000

stamp duty: £52,200

mortgage fees: £1,500

conveyancing fees: £12,000

GROSS RENT

£105,540

GROSS YIELD

6.1%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

12

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

7,292

PRICE SQ FT

£239

GROUND RENT

£3,000

The vendor is open to selling individual units, please get in touch if you are interested.

Block information

  • This is a broken block consisting of 12 apartments comprising:
    • 1 x 3-bed apartment
    • 5 x 2-bed apartments
    • 6 x 1-bed apartments
  • Spread over 5 floors (ground to 4th floor)
  • Secure communal entrance
  • Lift access to all floors
  • EPC ratings of C

Leasehold information

  • Length of lease: tbc
  • Year lease started: tbc
  • Remaining years on the lease: 116 years on each apartment
  • Ground rent: £250 pa for each apartment, vendor advised this is a doubling ground rent
  • Service charge: tbc

Rental information

  • At the time of listing the block is 67% occupied
  • The vacant apartments are advertised for letting
  • Once fully let the following rents are expected:
    • Aggregate monthly rental income: £8,795
    • Aggregate annual rental income: £105,540
    • Aggregate gross yield: 6.1%

Location information

  • Manchester city centre is 1.2 miles walk away
  • Deansgate railway station can be reached in less than 20 minutes on foot
  • Ideally located for access to the Ring Road (A6042)
  • Bus stop within walking distance of the property

Note

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

The floorplans are examples of a 1-bed and 3-bed apartment in this development. Layout and sizes will vary.

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 Salford, Manchester

Salford is a town located in North West England that is part of the county of Greater Manchester and west to the city of Manchester. This property is on the outskirts of the Salford area and just a short 1.8 miles away from the centre of Manchester.

This area is perfectly situated for great transport links to destinations in and around the Greater Manchester area. Salford Central is the closest station and only 0.8 miles away up the road from this property. This train station is served by trains departing from Manchester’s main station Manchester Victoria, which is less than 2 miles away. Services form Manchester Victoria station can take passengers throughout Northern England to destinations such as Blackburn, Rochdale, Leeds, Newcastle, Wigan and Liverpool to name a few. Getting around the city via public transport could not be easier, with the assistance of Manchester’s famous Metrolink Tram, that has over 90 stops throughout the Greater Manchester area.

This area being placed so close to the city centre means it is perfect for all the shopping and entertainment needs that one may have. Just a quick hop over the River Irwell and you will find yourself in the heart of Manchester’s Central Retail District. This area 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.

There are many job opportunities within the Greater Manchester area and has very high levels of commuters that travel in to town for work every single day. The Greater Manchester area is home to many big corporation’s 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.

Derwent Street,

Salford,

Greater Manchester,

England,

M5 4SS

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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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