Mixed Use
15 Bedroom HMO plus offices, basement and car park income circa £79,000 gross per annum majority let.
Substantial detached mixed use building comprising office space on ground floor and basement, 16-bedroom HMO and large car park. Located in a predominantly residential location with excellent transport links to the City Centre and local shops and amenities.
The gross property income per week is £1,520 which is currently equating to £79,040.00 gross which has potential when fully let to be circa £95,000 per annum gross. It is felt that there is scope to extend upon the existing building or to alter the planning for change of use of the office and basement to alternative uses subject to the necessary consents. All interested parties are advised to make their own enquiries directly to the planning department at Manchester City Council.
The ground floor office space is circa 180 SQ M and comprises reception, two separate office rooms, open plan office space, kitchen, WCs, shower rooms and storeroom. The basement office is circa 180 SQ M and has three main rooms, storage rooms and WCs.
Externally the property has an enclosed and gated car park for many vehicles.
The HMO accommodates 15 bedrooms, all with en-suite shower rooms and a large kitchen/dining/living space. All flats are bills inclusive. Rental agreements will follow in legal pack, and we are advised by the vendors that the following income is current: 14 out of 15 rooms are occupied. 13 flats are currently paying £100 pw per room and 1 room is paying £120 per week (room 7). (Room 15 is vacant and requires work).
The basement is let informally at £100 per week.
Ground floor office is vacant with an estimated rent based on previous let at £1,000 per month.
EPC ratings:
HMO: C (79)
Office: C (64)
Basement Office C (64)
Freehold. Part let/part vacant.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 2.2% inc. VAT
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
