465 Warrington Road, Wigan, WN3

Walmesley Arms, 465 Warrington Road, WN3 4TQ
Guide Price £675,000
Eight Self-Contained One-Bed Flats | Strong Yield Potential | Majority Refurbished With Completion Works Required

This freehold block offers an excellent opportunity to acquire eight self-contained one-bedroom apartments in a strong rental location. Formerly the Walmesley Arms public house, the building has undergone a substantial residential conversion, with the majority of refurbishment works already completed. Some reinstatement and finishing works are still required, and one of the flats needs more extensive completion as it was not finished to the same level as the others.

Each apartment benefits from a modern open-plan kitchen and living space with contemporary bathroom layouts. Once reinstated, the development is well positioned to attract strong rental demand from the WN3 market, making it highly suitable for landlords, developers, housing providers and portfolio investors.

The property also benefits from a gated outdoor area which offers excellent potential for creating off-street parking or retained outdoor amenity space, adding further appeal and long-term value.

Yield potential at £675,000 guide price

8% yield
£560 per flat per month
Income per year £54,000

9% yield
£633 per flat per month
Income per year £60,750

10% yield
£703 per flat per month
Income per year £67,500

These rental levels align with typical market rates for refurbished one-bedroom apartments in the WN3 area, where rents commonly fall between £500 and £700 per month depending on finish and presentation.

Condition summary
Most of the refurbishment programme has already been completed. The property now requires reinstatement and finishing, including replacement of certain kitchen appliances, shower screens and selected internal fittings. One flat requires a greater degree of completion work. Once all works are finalised, the building will be ready for occupation and capable of delivering strong rental income.

Investment overview
This predominantly refurbished block presents a rare opportunity where much of the hard work has already been completed. Finalising the remaining works provides a clear route to strong rental performance and realistic yields of eight to ten per cent at the guide price. The combination of scale, location and the added benefit of gated outdoor space suitable for parking makes this an appealing investment option.

Important note
A floor plan has been uploaded for guidance only. It is not fully accurate and the final layout may differ slightly upon inspection.

Auctioneers Comments

This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.

--

The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.