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Saturday, July 25, 2015

Large scale converted mill opportunity - Manchester

This large scale mill conversion 5 miles south east of Manchester city centre may be of interest to some landlords who wish to scale up rapidly and have access to large scale finance.

Victoria Mill, Houldsworth Street, Reddish, Greater Manchester, SK5 6AR

A Residential Investment Opportunity with
41 out of 180 apartments unsold presenting some arbitrage opportunities.

Rent passing: £306,900 per annum and fully let

Current Ground Rent Income: £31,576 per annum

Potential Ground Rent ERV: £43,525 per annum

Approximately 235 car parking spaces

Total ERV: £350,042 per annum

Offers are invited on the following basis:

       1.  Freehold + 41 unsold leasehold apartments (to including associated car parking)
       2.  41 unsold leasehold apartments only
       3.  Freehold / Ground Rent investment only (to include associated car parking)

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