3 bed flat

Our Summary

• Mixed-use investment opportunity
• Vacant residential apartment offering refurbishment and value-add potential
• Potential conversion of commercial units into three one-bedroom apartments (subject to planning)
• *** FOR SALE BY MODERN METHOD OF AUCTION; STARTING BID PRICE £350,000 PLUS RESERVATION FEE
• *** *Please note that the auction pack and further property information are available upon request through IamSold, our auction partner
• The current rents offer scope for future review in line with prevailing market levels at the appropriate time The investment is arranged as follows: Unit 10 – Vacant commercial unit
• Following a programme of refurbishment, the apartment is considered capable of achieving a market rent in the region of £950 PCM Current & Future Income PotentialThe property currently generates £1,500 PCM (£18,000 per annum) from the two occupied residential apartments
• Once the existing fixed-term tenancies end in July 2029, there is further potential to review the rents of the two occupied apartments to full market value, presenting an additional opportunity to enhance the overall investment return
• Outstanding Development Potential (Subject to Planning Permission)A key feature of this investment is its long-term asset management potential
• Subject to obtaining the necessary planning permission and all relevant consents, the three ground floor commercial units offer the opportunity to be converted into three self-contained one-bedroom apartments, similar to successful residential conversions already completed within the same development
• Based on current local rental evidence, these additional apartments could each achieve rental values in the region of £600 PCM, providing the potential for an additional £1,800 PCM (£21,600 per annum) of rental income
• PROPERTY FEATURES AND DETAILS:Mixed-use investment opportunityThree commercial unitsThree spacious three-bedroom duplex apartmentsResidential accommodation arranged over two floorsSignificantly larger than the average apartmentTwo apartments let on fixed-term tenancies until July 2029Established tenants in place until July 2029, with future rental growth potentialVacant residential apartment offering refurbishment and value-add potentialCurrent rental income of £18,000 per annumEstimated residential rental potential of £34,200 per annumPotential conversion of commercial units into three one-bedroom apartments (subject to planning)Estimated total rental potential of approximately £55,800 per annum PROPERTY LOCATION:Kearsley Mount Precinct occupies a prominent position fronting Manchester Road (A666), offering excellent visibility and convenient access between Bolton and Manchester
• HARRISONS EXPERIENCE THE DIFFERENCEBOOK A VIEWING ONLINE / TELEPHONE / WHATSAPPFLEXIBLE VIEWING APPOINTMENTS AVAILABLEOPEN 6 DAYS A WEEKCONTACT OUR BRANCH FOR MORE DETAILS Auctioneer Comments This property is for sale by the Modern Method of Auction
• This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the `Reservation Period`)