11 bedroom apartment for sale
Key information
Property description & features
- Investors Only
- 11 Flats comprising of nine 1 bedroom flats and two 2 bedroom flats
- With allocated parking available on site
- Serious potential for further growth as planning has been approved for a further four one bedroom flats to be developed on the site
- Upon completion of site Estimated GDV £2 Million
Buraq Estates is delighted to present a new development which has just been completed and made available for purchase for investors at £1.6 Million. The property is situated in an ideal location whereby The Rock and M66 are located half a mile from both East and West sides of the property with local amenities such as Aldi, Tesco and local convenience stores also within walking distance.
The two-story development comprises 9 x 1 bedroom flats and additionally 2 x 2 bedroom flats. A total of 11 units are made available. The site also has planning approved for purpose-built 4 x 1 bedroom flats to be built on the land available. The current owner has been quoted £200,000 for the works to be conducted for the purpose-built flats.
Making the total units available a total of 15 units.
The title of the property is to be sold as a Freehold.
The rental value that can be accomplished is as follows (circa)
9 x 1 bedroom flat = £6750
4 x 1 bedroom flat = £3000 - Upon completion of the approved site
2 x 2 bedroom flat = £2000
Total: £8750 per calendar month for 11 units
Total: £11,750 Per calendar month for total units upon completion of the additional four 1 bedroom flats.
Yield: 6.6%
Yield upon completion of the four individual flats: 8.8%
Places of interest
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Property reference 50631-45118. 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 Buraq Estates - Fallowfield.
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Broadband availability and predicted speed: obtained from Ofcom on September 28, 2023
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Mobile phone signal availability and predicted strength: obtained from Ofcom on September 28, 2023
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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
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Energy Performance data and Internal floor area
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