- High-Yield Investment Opportunity +
- Block of 10 Flats +
- Gross Yield Of 13% And Net Yield Of 9.71% +
- Gross Annual Rental Income Of £72,819.48 (£6,068.29 Per Month) +
- Net Monthly Income Of £4,532.78 After All Expenses +
- Conveniently Located Near Leigh Town Centre, Parsonage Retail Park, And Local Amenities +
- Easy Access To Atherton Train Station (2.5 Miles) And Major Road Networks Including The A580 And M60. +
- Rents Due For Review Offering Potential Increased Returns +
Excellent Investment Opportunity - Fully Tenanted Block of 10 Self-Contained Flats with High Yields
National Residential are delighted to offer this rare opportunity to acquire a fully tenanted block of 10 self-contained flats, situated in the popular town of Leigh. This property presents an attractive investment prospect with immediate income and strong rental yields.
Property Overview:
* Property Type: Block of 10 self-contained flats
* Tenure: Leasehold - 999 years from 29 September 1897 (872 years remaining)
* Ground Rent: £3.20 per annum
* Service Charge: None
Financial Highlights:
* Gross Annual Rental Income: £72,819.48
* Gross Monthly Rental: £6,068.29
* Management Charge (5.5% + VAT = 6.6%): £400.51 per month
* Total Running Costs (including water, broadband, council tax, insurance, and cleaning): £1,135.00 per month
* Net Monthly Income: £4,532.78
* Gross Yield (based on sale price of £560,000): 13%
* Net Yield: 9.71%
Key Property Features:
* All 10 units are fully tenanted, providing immediate income for investors
* No shared facilities except for the communal courtyard, which serves as an access and exit point
* Utilities included in the rental agreements
* No gas supply, reducing maintenance costs and safety concerns
Location Highlights: Phoenix House is ideally located in the heart of Leigh, benefiting from excellent transport links and a range of amenities nearby:
* Retail & Leisure:
o Leigh Parsonage Retail Park offers a selection of high-street brands, including Sainsbury's, Aldi, and Asda
o Powerbeck Gym and Firs Park are within walking distance, providing convenient leisure options
* Transport Links:
o Atherton Train Station - 2.5 miles away, with direct services to Manchester City Centre
o Wigan Station - accessible for West Coast Mainline services via Avanti
o Easy access to major road networks, including the A580 East Lancs Road, M6, M60, M58, and M61
Investment Potential: With high occupancy rates and immediate rental income, Phoenix House presents an exceptional opportunity for investors seeking a high-yield, low-maintenance property. The inclusive rent structure ensures ease of management, and the potential for future rental reviews provides scope for increased returns.
Viewing Information: Viewings are highly recommended to fully appreciate the potential of this investment. Please refer to our online video tour for a detailed view of the property's layout and features.
For further information or to arrange a viewing, please contact our dedicated specialist sales advisor today.
Please note: All prospective buyers are strongly encouraged to review the terms of the lease agreement and seek professional legal advice to ensure full understanding of all obligations and implications.
This property is ONLY available for purchasers who are NOT in a chain.
1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.
*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 2% (minimum of £5,000) or a Buyers fee (amount or % will be stated in main advert., which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.