Salford, Manchester, M5 4XR | Investment Property for Sale | VES-M5-432

Residential investment opportunity in Greater Manchester with a guaranteed gross yield of 6% for 2 years

£355,000

Off-Plan Apartment

VES-M5-432

INITIAL INVESTMENT

£163,800

GROSS RENT / YIELD

£21,300 / 6.0%

NET RENT / YIELD

£14,316 / 4.0%

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Guaranteed rent

A fixed rental income, paid each and every month without all of the normal stresses involved in letting a property.

You still get rent even if the property isn’t tenanted. See property description for more details.

The property

TENANCY

Vacant

TENURE

Leasehold

GROUND RENT

£300

SERVICE CHARGE

£1,744

3 bedrooms

2 bathrooms

1 reception room

872

Unfurnished

  • Guaranteed gross yield of 6% for 2 years
  • Length of lease: 150 years
  • Year lease started: 2016

Wilburn Basin is a brand-new residence sited around the historic River Irwell Basin and offers an attractive waterside setting to residents in the city centre within a short walking distance of the central business district and its amenities.

Wilburn Basin comprises four distinct blocks varying in height from 8 to 21 storeys and all apartments are built to a high specification including Porcelanosa kitchens and Villeroy and Boch Sanitaryware.

Facilities

  • 24 Hour concierge
  • Landscaped gardens & courtyard
  • Secure parking
  • Fitness centre
  • Cinema room
  • CCTV
  • Key card security entrance
  • Communal wifi
  • Outdoor garden seating
  • Prime riverfront location
  • On-site retail store

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£21,300

Equivalent of £1,775 per calendar month (PCM).

GROSS RENTAL YIELD

6.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£14,316

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.0%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£6,984

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

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.

Ordsall Lane,

Salford,

Greater Manchester,

England,

M5 4XR

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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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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