Under Offer

Memorial Road, Worsley

Memorial Road, Worsley
  • Guide Price £500,000

Overview

Property ID: 152319
  • Apartment, Semi-Detached House, Studio
  • Property Type
  • 6
  • Bedrooms
  • 6
  • Bathrooms

Description

Have you been searching for a fully managed, tenanted investment opportunity, with no void periods and a great return? This high end block of studio apartments, with HMO licence in place, on Memorial Road, Walkden, Worsley, could be the one for you!!!

This block of 6 studio apartments, on Memorial Road, Walkden, Worsley, offers a great investment opportunity for anyone looking for tenanted stock where you can earn an immediate income. The property has been converted into 6 studio apartments with 2 communal kitchens, and comes with a HMO licence in place.

Completely renovated in 2019, the property is finished to a very high standard. With warranties and guarantees in place for the work conducted, there will be no further maintenance required for the foreseeable future.

Each of the 6 studio apartments are immaculately finished and contain, living room, kitchenette with sink and fridge/freezer and ensuite with toilet, wash basin, walk in shower unit and heated chrome towel rail. All apartments are fully furnished providing, tv unit, coffee table, sofa, fridge freezer, double bed, wardrobe, chest of drawers and bedside table. There are also 2 communal kitchen areas which have been finished to a very high standard and contain ample storage across a range of wall and base units, cooker and hob, dishwasher, dining table and 6 chairs, as well as washing and drying facilities which are paid for on a usage basis by the tenants, providing an additional income.

The property is currently tenanted by young professionals, and has been fully occupied since completion. Each room achieves a slightly different rental figure based on size, and is tenanted on a bills included model. Please find the financial breakdown for the whole block below:

Room 1 – £155.76pw – £8,099.52pa
Room 2 – £145pw – £7,540pa
Room 3 – £150pw – £7,800pa
Room 4 – £150pw – £7,800pa
Room 5 – £165pw – £8,580pa
Room 6 – £145pw – £7,540pa

Gross Rent:- £47,359.52pa

Management Fee – 10% – £4,735.95pa
Electricity – £11,862.48pa
Broadband – £503.88
Waste Removal – £1,266.72
Communal Clean – £600

Total Expenditure – £18,969.03

NET Rent:- £28,390.49a
NET Return:- 5.68%

This property is ideally located and sits close to local amenities, transport links, schools and beautiful outside spaces.

Aldi, Tesco Extra, Asda, Sainsbury’s and Lidl are all within a short drive from the property, so whatever your preferred supermarket choice is, there’s something to suit all.

Walkden train station is no more than a 5-minute walk away from the front door, with bus routes into Manchester City Centre on the doorstep and it is also just a mile drive to Junction 2 & 3 of the M61 motorway network.

There’s also plenty of green space on the doorstep with Blackleach Country Park and Reservoir just a short walk from the property as well as the 18 hole Ellesmere Golf Course & Worsley Park Golf Course.

This area is a real hotspot for investors currently, given the high demand for rental properties and the high NET returns. Therefore, this property is inevitably going to receive a lot of interest and early viewing is recommended so you don’t miss out!!!

Financial Breakdown
Rent Per Room

Room 1 – £155.76pw – £8,099.52pa
Room 2 – £145pw – £7,540pa
Room 3 – £150pw – £7,800pa
Room 4 – £150pw – £7,800pa
Room 5 – £165pw – £8,580pa
Room 6 – £145pw – £7,540pa

Total Income – £47,359.52pa

Expenditure

Management Fee – 10% – £4,735.95pa
Electricity – £11,862.48pa
Broadband – £503.88
Waste Removal – £1,266.72
Communal Clean – £600

Total Expenditure – £18,969.03

NET Return – 5.68%

Studio One
Studio One – £155.76pw – £8,099.52pa

Studio one can be found on the ground floor. Upon entering the apartment, you are greeted by the beautifully decorated living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa, and lots of natural light due to the floor to ceiling double glazed window. Through the living room you’ll find the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette, you’ll find the double bedroom with double bed, wardrobe, chest of drawers and bedside table. The last room you enter is the ensuite with toilet, wash basin, walk in shower unit and heated towel rail.

Studio Two
Studio Two – £145pw – £7,540pa

Studio two can also be found on the ground floor. Upon entering the apartment, you are greeted by the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette, you’ll find the living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa, and double bedroom with double bed, wardrobe, chest of drawers and bedside table. The last room you enter is the ensuite with toilet, wash basin, walk in shower unit and heated towel rail.

Studio Three
Studio Three – £150pw – £7,800pa

Studio three can be found on the first floor. Upon entering the apartment, you are greeted by the double bedroom with double bed, wardrobe, chest of drawers and bedside table. The ensuite can be found to the right with toilet, wash basin, walk in shower unit and heated towel rail. Through the bedroom you’ll find the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette, you’ll find living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa,

Studio Four
Room Four – £150pw – £7,800pa

Studio four can also be found on the first floor. Upon entering the apartment, you are greeted by the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette, you’ll find the living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa, and double bedroom with double bed, wardrobe, chest of drawers and bedside table. The last room you enter is the ensuite with toilet, wash basin, walk in shower unit and heated towel rail.

Studio Five
Studio Five – £165pw – £8,580pa

Studio five is the largest of the apartments and can be found on the second floor. Upon entering the apartment, you are greeted by the beautifully decorated living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa. Through the living room to the right, you’ll find the double bedroom with double bed, wardrobe, chest of drawers and bedside table with floor to ceiling windows letting in plenty of light. To the left of the living room you’ll find the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette you’ll find the ensuite with toilet, wash basin, walk in shower unit and heated towel rail.

Studio Six
Studio Six – £145pw – £7,540pa

Studio six can also be found on the second floor. Upon entering the apartment, you are greeted by the kitchenette with wall and base unit storage, fridge freezer and wash basin. Past the kitchenette, you’ll find the living room containing tv unit with built in arial, radio, HDMI and internet ports, coffee table and sofa, and double bedroom with double bed, wardrobe, chest of drawers and bedside table. The last room you enter is the ensuite with toilet, wash basin, walk in shower unit and heated towel rail.

Communal Kitchen One 5.87m x 5.13m (19’3″ x 16’10”)
The communal kitchen is finished to a very high standard and contains ample storage across a range of wall and base units, cooker and hob, dishwasher, dining table and 4 chairs, as well as washing and drying facilities which are paid for on a usage basis by the tenants, providing an additional income.

Communal Kitchen Two 5.61m x 5.59m (18’5″ x 18’4″)
The communal kitchen is finished to a very high standard and contains ample storage across a range of wall and base units, cooker and hob, dishwasher, dining table and 4 chairs, as well as washing and drying facilities which are paid for on a usage basis by the tenants, providing an additional income.

  • Address Memorial Road, Worsley, Manchester
  • City Manchester
  • Zip/Postal Code M28 3AQ
  • Area Worsley

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