Summary
Description
***RARE RESIDENTIAL INVESTMENT OPPORTUNITY*** Wycombe House comprises a well configured period semi-detached property of traditional brick construction under a pitched roof and converted into 8 individual apartments arranged over basement, ground and two upper floors. The property was compressively refurbished in 2018 to an excellent standard providing two apartments to each floor.
The apartments are all self-contained and benefit from electric panel heaters, double glazing, refurbished kitchens and bathrooms (Villeroy & Boch Bathrooms and with Hansgrohe fittings). Indicative plans are provided.
Externally, parking is provided to the rear of the property along with a secured refuge / storage area. In addition, there is a potential development plot of land direct to the rear suitable for additional residential development subject to planning approval.
Further information please contact Danny on 0161 882 2233 or email danny@jpbrimelow.co.uk
Externally
Location & Situation
Manchester is widely regarded as the UK's second city and is understood to be the largest financial and student hub outside of London. It is known as the powerhouse of the North' with its economy focused upon banking, finance and more recently media. However, the economy is extremely diverse with an estimated 80 of the FTSE 100 companies represented with the city.
Greater Manchester has a population totalling 2.6 million people increasing to over 6 million people within an hour's drive of the city. It has over 100,000 students within the city making Manchester a key global city for business and education.
Chorlton is a vibrant suburb and has established itself as one South Manchester's most desirable residential and leisure locations. It is located some 4.5 miles south of Manchester centre and is popular with both young professionals and families due to its quality residential offering, transport links, schools, and leisure / retail provision.
Chorlton benefits from 3 tram stations and a dedicated cycle lane into Manchester making it an ideal computer suburb. Both the M60 and M56 Motorways are within a mile allowing easy access to Manchester Airport and the national motorway network.
The property is prominently situated along Wilbraham Road adjacent to Chorlton Village near all amenities.
Investment Summary
Entire block of 8 Apartments in the heart of Chorlton Village
Recently refurbished apartments
o3 - 2 Bed Apartments
o5 - 1 Bed Apartments
Potential for additional development (STP)
Current income of £77,500 pa with an ERV in the order of £80,700 pa
Excellent opportunity to hold for long term income or to sell units individually
Rental Figures
1 (Basement) 2 Bed AST 25/02/2023 £1095pcm £13,140pa
2 (Basement) 1 Bed AST 10/02/2023 £925pcm £11,100pa
3 (GF) 2 Bed AST 07/10/2017 £1195pcm £14,340pa
4 (GF) 1 Bed AST 08/05/2023 £950pcm £11,400pa
5 (1st )2 Bed AST12/11-22 £1050pcm £12,600pa
6 (1st) 1 Bed Regulated £405pcm £4,860pa
7 (2nd) 1 Bed AST 25/07/2022 £950 £11,400pa
8 (2nd) 1 Bed AST 17/03/2018 £825pcm £9,900pa
Financial Services
We believe that by introducing our clients to specialist advisors who provide simple, sensible, mortgage & protection advice we can help our clients make fully informed decisions giving them the confidence that they are getting the right deal from the start.
Our partners are committed to offering a tailor-made personal and professional service and aim to exceed expectations on every level, specialising in finding the best mortgage & protection products to suit your particular needs.
If you wish to take the opportunity to speak with our partner advisors at Bespoke Mortgage; Bridget and Mark can be reached on 0161 529 9110 or info@bespoke-mortgage.co.uk
AML - (Anti-money laundering).
We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy. The cost of these checks is £60 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable. We will receive some of the fee taken by Lifetime Legal to compensate for its role in the provision of these checks.
