2 Bed Flat, Single Let, Wigan, WN2 5LS, £40,000

33 Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS - 4 views - a month ago

Leasehold
Auction
BTL
ROI: 30%
55 m²
+1 photos

ValuationUndervalued

Sold Prices£53K - £175K
Sold Prices/m²£822/m² - £2.3K/m²

 

 

Square Metres

55 m²
Price/m²£727/m²

Value Estimate

£49,200
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£10,000

Stamp Duty & Legal Fees

£3,200

Total Cash In

£13,200

 

 

Cash Out

 

Rent Range

£625 - £850

Rent Estimate

£593

Running Costs/mo

£264

Cashflow/mo

£329

Cashflow/yr

£3,953

ROI

30%

Gross Yield

18%

Local Sold Prices

50 sold prices from £53K to £175K, average is £83.5K. £822/m² to £2.3K/m², average is £1.5K/m².

PriceDateDistanceAddressBeds 
£67K09/220 mi19, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£53K12/200.01 mi7, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£89.3K07/220.01 mi27, Gas Street, Platt Bridge, Wigan, Greater Manchester WN2 5LS2
£102K09/220.97 mi20, Addington Close, Hindley, Wigan, Greater Manchester WN2 3NU2
£95K09/230.97 mi14, Addington Close, Hindley, Wigan, Greater Manchester WN2 3NU2
£75K02/221.06 mi18, The Mews, Hindley, Wigan, Greater Manchester WN2 3EZ2
£88K01/231.1 mi228, Lily Lane, Bamfurlong, Wigan, Greater Manchester WN2 5JT2
£65K10/211.2 mi129, Market Street, Hindley, Wigan, Greater Manchester WN2 3AA2
£77K12/201.27 mi4, Merefield Close, Hindley, Wigan, Greater Manchester WN2 3PT2
£96K12/231.27 mi4, Merefield Close, Hindley, Wigan, Greater Manchester WN2 3PT2
£63K09/231.52 mi28, Rivington Drive, Bickershaw, Wigan, Greater Manchester WN2 4AL2
£115K10/221.72 miApartment 3, The Parsonage, Hoade Street, Hindley, Wigan, Greater Manchester WN2 2PY2
£60K12/212.05 mi165a, Poolstock Lane, Wigan, Greater Manchester WN3 5HW2
£64K11/222.1 miApartment 57, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£74.8K07/222.1 miApartment 94, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£65K07/222.1 miApartment 49, Wharfside, Heritage Way, Wigan, Greater Manchester WN3 4AT2
£100K06/222.1 mi4, Slackey Fold, Hindley Green, Wigan, Greater Manchester WN2 4XT2
£73K04/222.1 mi4, Rednal Walk, Wigan, Greater Manchester WN3 5HF2
£65K05/232.11 mi2, Rednal Walk, Wigan, Greater Manchester WN3 5HF2
£85K02/222.11 mi17, Meadow Field, Hindley Green, Wigan, Greater Manchester WN2 4GQ2
£75K08/222.12 mi27, Meadow Field, Hindley Green, Wigan, Greater Manchester WN2 4GQ2
£105K07/212.14 mi40, East Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8ST2
£93K04/232.15 mi16, Longacre, Hindley Green, Wigan, Greater Manchester WN2 4LL2
£80K06/232.15 mi36, Longacre, Hindley Green, Wigan, Greater Manchester WN2 4LL2
£105K09/222.16 mi6, Heathlea Gardens, Hindley Green, Wigan, Greater Manchester WN2 4UE2
£69K12/232.17 mi356, Leigh Road, Hindley Green, Wigan, Greater Manchester WN2 4XL2
£84K07/232.21 miApartment 20, Millside, Heritage Way, Wigan, Greater Manchester WN3 4BE2
£125K09/222.21 miApartment 17, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£122.5K10/212.21 miApartment 46, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£115K08/232.21 miApartment 28, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£120K12/202.21 miApartment 43, Trencherfield Mill, Heritage Way, Wigan, Greater Manchester WN3 4DU2
£104.5K09/222.28 mi9, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£107K11/222.28 mi1, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£80K03/212.29 mi7, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£90K07/212.29 mi9, Greenall Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8BZ2
£83K12/212.4 mi14, George Street, Ashton In Makerfield, Wigan, Greater Manchester WN4 8QD2
£142K04/232.53 mi318, Warrington Road, Wigan, Greater Manchester WN3 6PF2
£55K06/212.59 mi9, Newton Close, Wigan, Greater Manchester WN1 2LH2
£175K06/212.59 mi15, Corner Lane, Leigh, Greater Manchester WN7 5PY2
£98K11/222.65 mi88, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£93K05/222.66 mi40, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K05/212.69 mi32, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K05/212.69 mi32, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82K04/212.69 mi36, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£90K11/222.69 mi18, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£82.5K11/212.69 mi16, Appleton Grove, Wigan, Greater Manchester WN3 6NY2
£79K06/222.72 miC1, Monument Mansions, Wigan, Greater Manchester WN1 2LE2
£54K03/212.74 mi15, Regent Avenue, Ashton In Makerfield, Wigan, Greater Manchester WN4 0AX2
£105K08/232.76 mi7a, Park Road, Wigan, Greater Manchester WN1 1RY2
£54K03/212.76 mi15, Regent Avenue, Ashton In Makerfield, Wigan, Greater Manchester WN4 0AX2

Local Rents

22 rents from £625/mo to £850/mo, average is £750/mo.

RentDateDistanceAddressBeds 
£65003/250.03 mi-2
£62501/240.04 mi-2
£74903/250.11 mi-2
£75001/240.13 mi-2
£85001/250.13 mi-2
£85003/250.13 mi-2
£72010/240.14 mi-2
£75001/240.21 mi-2
£80003/250.22 mi-2
£79512/240.25 mi-2
£80010/240.26 mi-2
£75003/250.27 mi-2
£80001/250.28 mi-2
£70011/240.32 miCrystal Close, Platt Bridge, WN22
£69512/240.32 mi-2
£80001/250.34 mi-2
£75002/240.34 mi-2
£75003/250.34 mi-2
£69512/240.36 mi-2
£69503/250.37 mi-2
£79911/240.58 miWarrington Road, Wigan WN2 5QY2
£65011/240.62 miWarrington Road, Wigan, Lancs, WN32

Local Area Statistics

Population in WN2

52,661

Population in Wigan

214,929

Town centre distance

2.28 miles away

Nearest school

0.10 miles away

Nearest train station

1.44 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+5%

Sales demand

Seller's market

Capital growth (5yrs)

+50%

Property History

Listed for £40,000

February 27, 2025

Description

  • Two Bedroom Apartment +
  • Residing on 2nd Floor +
  • Allocated Parking +
  • Tenanted brining in an income of £5,760pcm +

Online Auction - 15th to 16th April 2025 Tenanted Two Bedroom Apartment with Allocated Parking – Income of £5,760pa NO VIEWINGS AVAILABLE

Auction House North West have not inspected the subject property but we have been advised this is a two bedroom apartment residing on the 2nd floor of a purpose built apartment block.

The accommodation is understood to comprise of an entrance hallway, open plan living/kitchen, two bedrooms and a bathroom.

Externally there are communal grounds along with an allocated parking space included.

The total floor area taken from the current EPC is 55 m2.

We have also been advised that the property is currently tenanted and is to be sold with the tenant in situ. There is no current tenancy in place, but we have been informed of the following:
Term: 23.03.2022 to 22.03.2023 (now on a rolling month)
Rent: £480pcm
We have also been advised that a section 21 notice has been issued but this expired in September 2024 and the tenant is still in situ.

For more information relating to the tenancy and the notice, please refer to the legal pack.

Please be aware that photos included have been taken from pre-tenancy in 2020.

Tenure: Leasehold
Title number: MAN90679
Length of Lease/Term: 125 years from 1 January 2006
Ground Rent: Please refer to the legal pack
Service Charge: Please refer to the legal pack
Council Tax Band: A
Local Authority: Wigan

Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

IMPORTANT INFORMATION Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.
ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects.

Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars.

Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
Tenure: Leasehold Lease Details: MAN90679 EPC Rating: B Administration Fee: No Fee Applicable Buyer's Premium Fee: 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Agent Details

Auction House, Fulwood

01772 286883

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪