Wigan, WN1 1LF | Investment Property for Sale | VES-WN1-001

Opportunity to purchase a HMO block in Wigan generating £96,000 rent pa & gross yield of 10.7%

£900,000

19-unit HMO

VES-WN1-001

INITIAL INVESTMENT

£274,500

Based on

deposit: £225,000

stamp duty: £47,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£96,000

GROSS YIELD

10.7%

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The property

TENANCY

Tenanted

TENURE

Freehold

19 bedrooms

19 bathrooms

0

5,500

Fully Furnished

Property information

  • The property underwent comprehensive commercial to residential conversion in 2016
  • Comprises 19 bedrooms spread over 3 floors
  • Fully HMO licenced for 25 persons in 19 bedrooms
  • All bedrooms have ensuite bathrooms
  • The bedrooms range in size from 9.5 - 12.5 sqm (102.3 - 134.5 sqft)
  • Each floor has its own kitchen/dining space serving all tenants on the same floor
  • The building is fully compliant with all licensing regulation and legislation and also has:
    • 2 internal fire escapes
    • External refuse storage
    • External bike storage
    • Gated security entrance
    • CCTV and external lighting
  • The property is fully furnished and each bedroom contains:
    • Double-bed with mattress
    • Chest of drawers
    • Double wardrobe
    • Bedside table
  • The kitchens come with all cooking facilities including:
    • White goods
    • Appliances
    • Crockery
    • Dining table and chairs
    • Sofa
  • EPC rating E
  • Fully managed by a third party

Rental information

  • Aggregate rental income pcm: £8,000
  • Aggregate rental income pa: £96,000
  • Aggregate gross yield: 10.7%

Location information

  • The property is located in the centre of Wigan
  • There are numerous amenities on the doorstep
  • Wigan Wallgate and Wigan North Western railway stations are less than 5 minutes walk away

Note

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

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 Wigan, Greater Manchester

Wigan is a town in the Greater Manchester area in the north-west of England. It lies around 10 miles south-west of Bolton, 12 miles north of Warrington and 17 miles west of Manchester.

There are two main A roads that meet in Wigan, the A49 and the A577, which link to the M6 and M61 and M58 motorways. Via these roads Wigan is connected to Coventry, Birmingham, Stoke-on-Trent, Liverpool, Manchester, Preston, Lancaster, Carlisle and Gretna Green. As well as Bolton, Chorley and Merseyside and Lancashire.

Wigan has two railway stations, Wigan North Western and Wigan Wallgate. Wigan North Western is on the West Coast Main Line and runs express trains to London Euston, Birmingham, Lancaster, Carlisle, Edinburgh and Glasgow. Other trains run to Preston and Blackpool North as well as a local service to St Helens and Liverpool Lime Street. Wigan Wallgate runs services to Southport and Kirkby and Bolton and Manchester. Most trains from this station also continue to Manchester Airport, Stockport and Rochdale. Some of Wigan’s top attractions are Halgh Woodland Park, The Old Courts, Fairy Green, Three Sisters Racing Circuit, Wigan Roller Rink, Museum of Wigan Life and several trampoline parks. The pier warehouses were transformed into the local heritage centre and the cultural quarter.

There are a number of shopping opportunities in and around Wigan centre, which include Grand Arcade, The Galleries, The Marketgate Shopping Centre, Royal Arcade, Makinson Arcade, Robin Retail and many more. Shoppers can find the usual high street favourites here as well as independent shops, cafes and eateries.

Education is provided by Wigan and Leigh College, which is a further education college with three campuses in town, Wigan UTC, a university technical college, as well as two sixth form colleges and a number of High Schools.

Wigan’s industries historically included porcelain manufacture, clock making, milling and coal mining. Today’s employers include H.J. Heinz food manufactures, which have a 55-acre food manufacturing facility in Wigan, JJB Sports, DW Sports Fitness who has its headquarters in town, the bakery chain Galloways Bakers and confectioner William Santus & Co.

Barracks Square, Library Street,

Wigan,

Greater Manchester,

England,

WN1 1LF

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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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