Cross Street, Congleton, CW12
- PROPERTY TYPE
Terraced
- BEDROOMS
8
- BATHROOMS
8
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- ** Annual Income of £76,440 per annum **
- Annual income of £76,440 per annum, providing an immediate income-producing investment from completion.
- Fully let freehold supported living investment comprising two adjoining properties sold as one lot with the benefit of the existing occupational lease.
- Let to Bedspace Resource Ltd on a 10-year lease from 8 November 2024, offering longer-term income visibility for investors.
- No break clause and fixed annual rent uplifts, creating a stepped income profile and attractive long-term investment appeal.
- Recently refurbished accommodation with 8 en-suite rooms across two four-bedroom properties, designed for supported living use.
- Approximate total accommodation of 222.00 sq m / 2,368 sq ft.
- Central Congleton town centre location, close to amenities and transport links.
- Sold by Modern Method of Auction, Subject to Reserve Price, and Buyer Fees Apply.
Description
Fully let residential investment producing £76,440 per annum. The property is held on a 10-year lease to Bedspace Resource Ltd with fixed 3% annual rental uplifts. Comprises two adjoining, recently refurbished 4-bedroom HMOs (8 en-suites total) in central Congleton.
2 & 4 Cross Street is a freehold investment comprising two adjoining terraced buildings that have been recently refurbished to a high standard. The properties are arranged over three floors and configured as two 4-bedroom Houses in Multiple Occupation (HMO), offering a total of 8 letting rooms, all with en-suite shower rooms.
The investment is fully let to Bedspace Resource Ltd on a 10-year lease which commenced on 8 November 2024. The initial rent is £76,440 per annum, and the lease agreement includes fixed annual rental increases of 3%.
Refurbishment works include the installation of uPVC double glazing, LED lighting, infrared electric heating panels, and a comprehensive fire alarm system.
The total internal area is approximately 222 sq m (2,368 sq ft). Each house includes shared kitchen and lounge facilities, with some bedrooms also featuring individual kitchenettes. Externally, both properties have small rear yards.
Overall accommodation
2 Cross Street - approx. 111.50 sq m / 1,200 sq ft 4 Cross Street - approx. 108.50 sq m / 1,168 sq ft Total - approx. 222.00 sq m / 2,368 sq ft
2 Cross Street
Ground floor kitchen / lounge
22.5 sq m / 242 sq ft - Shared fitted kitchen / lounge serving the ground floor accommodation.
Ground floor bedroom 1
13.0 sq m / 139 sq ft - Ground floor bedroom with en-suite shower room, positioned adjacent to the shared kitchen area.
First floor bedroom 2
15.0 sq m / 161 sq ft - First floor bedroom with en-suite shower room and kitchenette area.
First floor bedroom 3
8.5 sq m / 91.5 sq ft - First floor bedroom with en-suite shower room, positioned close to the additional first floor kitchen area.
Second floor bedroom 4
24.0 sq m / 258 sq ft - Second floor bedroom with en-suite shower room, formed within the converted upper floor space.
4 Cross Street
Ground floor kitchen / lounge
20.5 sq m / 220 sq ft - Shared fitted kitchen / lounge serving the ground floor accommodation.
Ground floor bedroom 1
11.5 sq m / 123 sq ft - Ground floor bedroom with en-suite shower room, positioned adjacent to the shared kitchen area.
First floor bedroom 2
18.5 sq m / 199 sq ft - First floor bedroom with en-suite shower room and kitchenette area.
First floor bedroom 3
20.0 sq m / 215 sq ft - First floor bedroom with en-suite shower room and kitchenette area.
Second floor bedroom 4
15.0 sq m / 161 sq ft - Second floor bedroom with en-suite shower room, formed within the converted upper floor space.
Auctioneer Comments
This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation Period. Interested parties' personal data will be shared with the Auctioneer (iamsold Ltd). If considering a mortgage, inspect and consider the property carefully with your lender before bidding. A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent information on the Buyer Information Pack fee, please contact the iamsold team.
Auctioneer Comments Continued
The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty. Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: TBC
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- On street
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
Cross Street, Congleton, CW12
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Visit our security centre to find out moreDisclaimer - Property reference LUX250024. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Luxury Hub, Congleton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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 Luxury Hub, Congleton on 01260 543956.
*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.”
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