Warrington, WA5 0JA | Investment Property for Sale | VES-WA5-002

Terraced HMO in Warrington generating £17,676 in rent per annum & a gross yield of 12.2%

£145,000

HMO Terraced House

VES-WA5-002

INITIAL INVESTMENT

£66,150

GROSS RENT / YIELD

£17,676 / 12.2%

NET RENT / YIELD

£13,577 / 9.4%

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The property

TENANCY

Tenanted

TENURE

Freehold

3 bedrooms

3 bathrooms

1 reception room

928

Unfurnished

Property details:

  • 3-bedroom HMO spread over 2 floors
  • all rooms come with en-suite bathrooms
  • 2 rooms contain a kitchenette
  • shared kitchen/living room
  • EPC band C

We are currently awaiting the ASTs for the rooms and will add the details as and when we receive them.

Whilst the displayed financials below are market averages, these are the current running costs provided by the landlord:

Running costs:

  • Council tax: £95
  • Water bill: £44.26
  • Gas & electricity bill: £120
  • Virgin Wi-Fi bill: £34
  • TV licence (included in the rent): £12.54
  • Waste collection: £52.30
  • Total pcm: £358.10
  • Total pa: £4,297.20

The landlord is currently paying for a large commercial waste facility with BIFFA, costs included above, as the council waste facilities are not being used at this property. This can be changed in future reducing or elminating the cost.

The listings particulars haven't yet been reviewed by the vendor and are therefore not final.

Market Trends

Sales Trends

  • Prices in WA5 have increased 19% over the last 5 years (+5% over the last 12 months) and are £181,000 which varies by property type (£78,000 for a 1-bed flat to £404,000 for a 5-bed detached property). On average, there have been 77 properties sold per month in the area in the last 12 months.
  • In comparison, prices in the wider Warrington WA area are £169,000 (+1% over the last 12 months) and range between £98,000 for a 1-bed flat to £567,000 for a 5-bed detached property.

Rental Trends

  • Rents in WA5 are now at £619 per month (£7,428 pcm) (-1% over the last 12 months). On average, there have been 36 properties listed for rent per month in the area in the last 12 months.
  • Given prices in the WA5 area, gross yield is currently 5.5% which is higher than the national average of 4.7% and the wider Warrington WA postcode area of 5.3%.
  • This property is currently achieving a gross yield of 12.2% which is 55% higher than the area.

Source: REalyse - 14/05/2019 Note: prices and rent are median and averaged over the last 12 months, unless stated. Data sourced from c. 20 different sites and agents.

Floorplans

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

£17,676

Equivalent of £1,473 per calendar month (PCM).

GROSS RENTAL YIELD

12.2%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£13,577

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

9.4%

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

FULLY MANAGED OPERATING COSTS

£4,099

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 Warrington, NW

Warrington is a large town in Cheshire, England, on the banks of the river Mersey. It lies around 20 miles east of Liverpool and 20 miles west of Manchester.

The town is well situated with close access to the M62, M6 and M56 motorways connecting it to a number of cities including Liverpool, Hull, Manchester, Coventry, Birmingham and all the way to Carlisle.

Warrington is also well connected via 2 railway stations. Bank Quay station is on the West Coast Main Line connecting London Euston and Glasgow Central, as well as Manchester Piccadilly to North Wales via Chester. Central station is on the Liverpool to Manchester line and runs services between Liverpool and the North East of England or East Anglia.

Warrington is a historic town and at its heart it still offers great shopping including Golden Square Shopping Centre, home to numerous major brands. There are also a number of out of town retail parks which include Britain’s first Ikea.

The Warrington Museum and Art Gallery showcases the development of the town and hosts several contemporary and specialist street art exhibitions. Parr Hall, the town’s concert hall, and the Pyramid, an arts centre, provide a multitude of music concerts and shows for all ages year round. Other attractions include Walton Hall and Gardens and Gulliver’s World theme park, as well as Daresbury Church with its Alice in Wonderland stained glass windows.

For nature lovers there are the Trans Pennine Trail, Risley Moss Nature Reserve, Lymm Damm, Culcheth Linear Park, Sankey Valley Park and Victoria Park. Warrington is also well located to access the Peak District, North Wales and the Lake District.

There are many job opportunities in the local area including big employers such as Warrington Council, Warrington & Halton NHS Foundation Trust, Hewlett Packard, Sellafield Ltd, Certas Energy, Rolls-Royce Nuclear as well as AECOM, Atkins and CH2M, to name a few.

Marshall Avenue,

Warrington,

Warrington,

England,

WA5 0JA

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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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