241 Manchester Road West Little Hulton, M38 9XE£185,000
The property provides and end terraced retail unit with first floor living accommodation, available as an income producing investment. The ground floor is currently let on a ten year lease with approximately 3 years unexpired and is currently being utilised as a convenience store, the property also has the benefit of an A5 Hot food licence. The ground floor retail tenant is currently paying £8,840 per annum.
The first floor provides a two bedroom flat that has recently been refurbished to a high standard with a potential income of £6240 PA (based on the local housing allowance).
There is a signboard on the gable end of the property leased to Primesight Ltd at an annual rent of £400 PA
The ground floor provides a retail area to the front with a storage area to the rear, along with WC facility. The unit also benefits from a suspended ceiling, comfort cooling heating and AC unit, with further cellar space available suitable for storage. The ground floor had previously been split, with the rear of the building used as a café with its own separate entrance.
The first floor flat has recently been refurbished and is available immediately for occupation. The flat benefits from gas central heating and double glazed windows. New bathroom and refurbished kitchen.
To the side of the property is an unadopted road which provides off road parking spaces for potential customers.
- Purchase price: £185,000
- Deposit (75% LTV): £46,250
- Mortgage Amount: £138,750
- Mortgage Repayments: £9742.08 PA (3.6% – 20 years – Capital & Interest)
- Rental Income: £15,480 PA
- Yield: 8.4%
- Cash on Cash Yield: 12.4%
- 2 Bedroom First Floor Flat
- A1- A5 Planning
- Fully Modernised/Refurbished Throughout
- Ground Floor Retail Unit
- Mortgage Available