325 Oldham Road

Pure Investor brings to the market this well sized 1 bedroom ground floor apartment on Oldham Road, Manchester. The apartment includes 1 double bedroom, large open plan living/dining/kitchen space with integrated kitchen appliances such as hob, extractor and cooker, there is also a bathroom with bath, shower, toilet and sink. The property and development have been finished to a high standard and offers tenants a modern, comfortable place to live.

Currently the apartment block is under a lease agreement with a short term let company which is due to expire in June 2025. The rent has been paid from this company throughout the duration of the lease agreement with no missed payments, from what the current landlord has stated. Once the lease has expired the buyer would be able to rent the property in whichever way they wanted to. They could put the property on the open rental market or agree an individual agreement with a short term let company.

KEY FEATURES

• 1 Bed, 1 Bath
• Large open plan living space
• Security cameras throughout the development
• Modern finish throughout
• 20-minute walk to Manchester city centre
• 3-minute drive to Manchester city centre
• 7-minute bus to Manchester city centre
• No parking
• Block Managing Agent:

INVESTMENT INFORMATION

• Asking Price: £160,000.00
• Rental Amount: £775.00pcm (£9,300.00 per annum) this is with the current short term let company
• Expected Rental Income: £900.00pcm (£10,800 per annum)
• Ground Rent: £250.00 per annum
• Service Charge: £1,281.83 per annuum
• Gross Current Yield: 5.8%
• Net Current Yield: 4.8% (including management fee of 10% + VAT)
• Gross Expected Yield: 6.75%
• Net Expected Yield: 5.7% (including management fee of 10% + VAT)
• Leasehold: 246 years remaining