1 bedroom property for sale
Key information
Property description & features
- Tenure: Leasehold
X1 Chapel Street are double bed with ensuite bathroom. Apartments share a kitchen and living space which is fully furnished
There is an onsite gym for private residents use. The building also offers an on-site laundry service and secure bike storage. Security work in the building overnight 7 days a week.
Student Investment Opportunity – Ideal for Cash Buyers!
This is a prime investment opportunity in student accommodation, not suitable for owner occupiers or live-in landlords. The property is currently tenanted and managed by a professional company, making it a hassle-free, ready-to-go investment!
Key Financials:
Rental Income: Starting September 2024, the rental income will increase to £182.00 per week, generating a gross annual income of £8,735.98 for an 11-month contract.
Owner Costs:
Service Charge (2024): £3,504.08 (reduced by £250 from 2023)
Ground Rent: £250 per annum with Deed of Variation in place, ensuring no future increases.
Management Fees: X1 Lettings charges 9% plus VAT of the gross rental income, equating to £786.23 (excluding VAT) annually.
Location Highlights:
Chapel Street offers an unbeatable location for students, with excellent transport links to both Salford Central and Victoria stations. Whether studying at Manchester Metropolitan University, The University of Salford, or The University of Manchester, this accommodation serves as the perfect base.
Property Features:
Fully Furnished Rooms: Each room includes a double bed, wardrobe, drawers, desk, chair, and an LCD TV.
En-suite Wet Rooms: Each bedroom comes with its own private en-suite wet room.
Shared Cluster Flats: Flats are shared among 4, 5, or 6 students, with communal living and kitchen areas.
On-Site Amenities:
24-Hour Gym: Available for tenants around the clock.
Communal Courtyard: Perfect for enjoying Manchester’s rare sunny days.
All-Inclusive Bills for your tenant: All utility bills are covered in the service charge, simplifying the investment.
Security & Convenience:
Secure Fob Entry: Ensures safety with security on-site 7 days a week.
24-Hour Bike Storage: Tenants have access to a secure bike store on site at all times.
This property is a fantastic opportunity for investors looking for a high-yield, low-maintenance asset in a thriving student area.
Don’t miss out—schedule your viewing today!
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*DISCLAIMER
Property reference SAL230065. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by X1 Sales and Lettings - Greater Manchester.
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Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 9, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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