Commercial Property for saleChedworth Crescent, M38
Sold STC £599,950
- Eight individual houses - Well maintained portfolio
- Current yield 8.8%
- High yielding investment
- Current income £52,872
- All within close proximity
- Ready made investment
- Opportunity to increase rents
- Strong rental locations
- Good potential for capital growth.
- Predominantly DSS tenants
Four of the subject properties are located in and around the district of Little Hulton, which lies 10 miles North West of Manchester. Little Hulton is easily accessible via the main A6 dual carriageway or the Northern Trainline which runs every 30 minutes.
The other four properties are located to the North and Northwest in the districts of Radcliffe, Whitefield, Eccles and Worsley. These locations are well serviced by the main M60 Motorway and the A56 dual carriageway.
All properties are relatively close by to each other, allowing for easy management of the portfolio
The properties are all tenanted on AST contracts. All of the tenants are long term, with no intention of moving. We are advised by the vendor that there have been no voids in recent years.
The properties are predominantly let to DSS tenants, with the rent being paid direct to landlord and guaranteed.
The vendor has advised that all the properties have been well maintained.
External viewings only
Please note John Pye Property has not inspected any of the properties being sold.
Schedule of Accommodation
According to experts this is what a broad section of the market want. High quality rental accommodation that caters to graduates, young professionals and also families are set to do incredibly well in Manchester. *
Manchester's residential housing market has climbed from strength to strength in recent years. The city sits at the heart of the Northern Powerhouse and is in receipt of ongoing investment in infrastructure. It still remains a strong contender for those seeking to protect capital and produce an income well above bank interest rates.
Predicted house price growth in Manchester for 2016-20 stands at 24.6% and rental income for the period is expected to rise by 22.8%. This provides an attractive investment for investors to the region. **
* Source - JLL news release 04/02/2016
** Source - Manchester Evening News 24/06/2016
More information from this agent
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*Guide Price: An indication of a seller's minimum expectation at auction and given as a Guide Price or a range of Guide Prices. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a Reserve Price below which the property cannot be sold at auction. Normally the Reserve Price will be set within the range of Guide Prices or no more than 10% above a single Guide Price.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.
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