Investment Property with Planning Permission. Recently undergone a large renovation & building work to create a high standard property which can provide a long term consistent investment yield. Gross income of £53290 pa.
Planning permission valid for further development with potential to increase the rent to aprox £63,000 pa.
The property has been owned and maintained by the same family of experienced landlords for nearly 40 years.
Consisting of five self contained flats. This is a substantial , converted, double fronted, period property offering accommodation over four levels and is situated in an outstanding rental and residential location, close to Wilmslow Road and the centre of Fallowfield.
All Five flats are let on AST’s , with a mix of two x 1 bed flats, One x 2 bed flats and Two x 3 bed flats. The tenants are a mix of students and long term tenants with Guarantors. Recent 5 year electrical certification, new interlined fire/smoke alarms and all boilers have annual service contracts.
3 of the 5 flats have been completely renovated with new wiring, kitchens and bathrooms and plastering.
Featuring limited off road parking to the rear ,plus communal gardens.
This is a superb opportunity to purchase and established on-going investment property.
Communal Entrance Hall
AN OUTSTANDING OPPORTUNITY TO PURCHASE A READY TO GO INVESTMENT PROPERTY IN A MUCH SOUGHT AFTER LOCATION. Visit our office to view further details on planning for further improvement to the property or go to;
. The vendor has made checks with MCC and they confirmed the planning approved would not constitute a licensable HMO. All interested parties should make their own enquiries with MCC.
Ground floor. Recently refurbished and providing 3 bedrooms, Open plan lounge/kitchen and shower room.
net rent £13400
Lounge Area: 11'0 x 10'0 (3.35m x 3.05m)
Kitchen Area: 8'6 x 6'6 (2.59m x 1.98m)
Bedroom One: 17'0 x 14'8 (5.18m x 4.47m)
Bedroom Two: 18'0 x 14'7 (5.49m x 4.45m)
Bedroom Three: 11'1 x 9'0 (3.38m x 2.74m)
Shower Room: 6'0 x 5'10 (1.83m x 1.78m)
First floor. Large 2 bedroom flat. Recently renovated. Open Plan Lounge/Kitchen and shower room.
net rent £9090
Lounge Area: 11'10 x 11'2 (3.61m x 3.40m)
Kitchen Area: 10'11 x 4'6 (3.33m x 1.37m)
Bedroom One: 11'2 x 9'0 (3.40m x 2.74m)
Bedroom Two: 10'3 x 8'2 (3.12m x 2.49m)
Shower Room: 6'2 x 5'11 (1.88m x 1.80m)
First floor. 1 bedroom flat. Recently fitted shower room. New carpets.
net rent £6000
Lounge: 16'11 x 9'0 (5.16m x 2.74m)
Kitchen: 10'1 x 5'4 (3.07m x 1.63m)
Bedroom: 15'0 x 11'2 (4.57m x 3.40m)
Shower Room: 5'5 x 4'9 (1.65m x 1.45m)
Second floor. Studio flat. Separate kitchen and bathroom, lounge/bedroom.
net rent £5160
Studio 15'5 x 14'9 (4.70m x 4.50m)
Kitchen:10'2 x 9'0 (3.10m x 2.74m)
Shower Room: 8'3 x 4'10 (2.51m x 1.47m)
Flat Five 19a Clifton Avenue:
Lower ground floor apartment. Dedicated external entrance, three bedrooms, two shower rooms, fitted kitchen and lounge.
net rent £12225 (new rent in summer 2018 of £14279).
Lounge:17'10 x 14'5 (5.44m x 4.39m)
Kitchen: 10'7 x 9'4 (3.23m x 2.84m)
Bedroom One:16'8 x 14'2 5.08m x 4.32m)
En-Suite: 9'2 x 5'3 (2.79m x 1.60m)
Bedroom Two: 16'6 x 14'4 (5.03m x 4.37m)
Bedroom Three: 8'4 x 5'6 (2.54m x 1.68m)
Shower Room: 10'5 x 4'2 (3.18m x 1.27m)
Flats 19A/Flat 1 & 2 have recently been rewired. Hardwired smoke alarms. CO2 detectors. All boilers have either British Gas service contracts or are Worcester boilers with between 5-7 years warranties.
These flats have been hard wired with CAT 6 cables running to bedrooms and also CAT 6 cabling for future door entry system.
19A has full insulation / fire protection and sound tested 30mm sound block plaster board between it and flat 1.
*PLEASE NOTE* Information provided by current vendor and would need to be checked by your solicitor for verification.
£1,000 worth of inter-linked heat and fire detection equipment was added in Jan 2018.
There is a driveway leading to the side and rear of the property with garden and some parking at the rear. Bin storage created to front/side of building.
Please note that we have not checked any of the appliances or the central heating system included in the sale (if any). All prospective purchasers should satisfy themselves on this point prior to entering into a contract.
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