Under Offer

Manchester – Freehold residential investment opportunity comprising 28 apartments in prime location in Manchester city centre

6-14 Great Ancoats Street, Manchester, M4 5AZ

Offers in excess of £4,450,000

Property Type:
Residential
Sub Types:
Block of Flats, Investment, Multiple Flats
Tenure:
Freehold

Description

Investment Considerations

  • Freehold
  • Excellent location in Manchester city centre, positioned in the popular Northern Quarter, a 5 minute walk to the city’s principle shopping district
  • Comprising 28 apartments, arranged as: 15 x one bed apartments & 13 x two bed apartments
  • Ground floor commercial unit has been sold subject to a 999 year leasehold interest
  • Currently operated as an ‘Aparthotel’ serviced apartment scheme, with a lease to ‘City Wearhouse Aparthotel,’ producing £230,000 per annum
  • Potential to increase income to an Estimated Rental Value (ERV) of £272,400 per annum, if apartments were let individually on the open market
  • An asking price offer reflects a Gross Yield of 6.11% (based upon the ERV)

Subject to contract