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4 bedroom apartment for sale
Fairfax Road, Manchester, M25
£560,000
Fairfax Road, Manchester, M25
£560,000
Our Summary
- - Rent passing of £41,430 with potential to significantly increase immediately up to £42,000
Description
This prominent freehold mixed-use investment property in Prestwich, Manchester, boasts a highly visible frontage to Fairfax Road and proximity to the M60 motorway. The property comprises a two-storey building with a ground-floor retail unit, a ground-floor flat, and three first-floor one-bedroom flats, all of which are fully tenanted. The shop has its own entrance and is let on a new 5-year lease, while the flats are let on Assured Shorthold Tenancies. The property also features a rear car park with four individual parking spaces, a usable storage basement, and a communal water supply. The property has been well-maintained, with recent renovations to the flats and building roofing. With a current annual rental income of £41,430 and a potential to increase to £42,000, this investment offers a gross yield of over 7.3%.