Former hotel now running as HMO. Fully let. Full Planning approval for conversion to 21 self contained apartments plus further application made for additional 6 apartments
Former hotel now running as a HMO. The property is fully let in the very popular Whalley Range area where house prices are still rising. The property is also located just 5 minutes from the city centre with plenty of bus routes nearby.
This property also has full planning approval for a conversion to 21 self contained flats (7 1 bed and 14 2 bed) plus a further application has been made for the new build of another 6 self contained apartments.
The asking price is £1,525,000.
The current annual income is £133,032
The current annual yield is 8.72%, that’s almost 9%.
In this area 1 bed flats will easily sell for £110,000 and 2 bed flats for 125,000. If converted this property would be worth an absolute minimum of £3,180,000.
The efficiency or operation of any services (Gas, Electricity, Water or Drainage) or any electrical, heating or
mechanical appliances have not been checked. All measurements should be used as a guide only and not for ordering
floor coverings or carpets.
