Wigan | Investment Property for Sale | VES-WN6-001

Opportunity to purchase a 3 unit portfolio in Wigan with the potential to generate £59,904 rent pa

£565,000

3 unit HMO Portfolio

VES-WN6-001

INITIAL INVESTMENT

£166,500

Based on

deposit: £141,250

stamp duty: £20,750

mortgage fees: £1,500

conveyancing fees: £3,000

GROSS RENT

£54,096

GROSS YIELD

9.6%

ADD TO FAVOURITES

The portfolio

TENURE

Leasehold

NO OF UNITS

3

TENANCY STATUS

Tenanted

FURNISHED

Part and part

TOTAL SQ FT

3,251

PRICE SQ FT

£174

This is an opportunity to purchase 3 end-terraced leasehold HMOs in Wigan. The vendor is open to selling the properties individually too.

House 1

  • Leasehold HMO
  • Has an HMO licence
  • 4 bedrooms including ensuite bathrooms
  • Partially tenanted
  • Shared kitchen/dining area
  • Approx. 1,109 square feet
  • EPC rating D
  • Length of lease: 999 years
  • Year lease started: 1898

House 2

  • Leasehold HMO
  • HMO licence not required
  • 4 bedrooms including ensuite bathrooms
  • Fully tenanted
  • Shared kitchen
  • Separate shared lounge
  • Approx. 1,001 square feet
  • EPC rating D
  • Length of lease: 999 years
  • Year lease started: 1904

House 3

  • Leasehold HMO
  • Has an HMO licence
  • 5 bedrooms including ensuite bathrooms
  • Partially tenanted
  • Shared kitchen/dining area
  • Approx. 1,141 square feet
  • EPC rating E
  • Length of lease: 999 years
  • Year lease started: 1883

Leasehold information

  • Service charge: TBC
  • Ground rent: peppercorn

Rental income

  • Current rental income: £4,508 pcm (9.6% gross yield)
  • Once fully let rental income: £4,992 pcm (10.6% gross yield)
  • Rooms are let at an average rent of £384 pcm

Running costs

The vendor provided us with the following running costs of the properties, which are based on actuals from the period of January 2019 - January 2020.

  • Council tax bill: £780 pa
  • Gas and electricity bill: £3,902.16 pa
  • Maintenance & other expenses: £2,374.32 pa
  • Total cost pa: £7,056.48
  • Total cost pcm: £588.04

Available upon request

  • Portfolio breakdown
  • EPCs for all units

Note

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

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.

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

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.

Copyright © 2020 Vesta Global Limited. All rights reserved.