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Investment properties for sale! 19 Bedrooms on Parsonage Road, Withington

12th January 2018

Nicholas Humphreys are delighted to bring this investment opportunity to the market! See the full listings here https://www.nicholashumphreys.com/investment-properties/manchester/parsonage-road-1 and here https://www.nicholashumphreys.com/investment-properties/manchester/parsonage-road-2

** Parsonage Road, Withington 10 Bedrooms
  • £550,000 (Only £55,000 per bedroom)
  • Currently let on a very hands-off 'Company/rent to rent' basis for £3150pcm ending June 2019 **SEE BELOW FOR MORE DETAILS**
  • Could be let to students after this for circa £3900pcm excluding bills
Popular location for students and professionals

** Parsonage Road, Withington. 9 Bedrooms

  • £550,000 (Only £61,111 per bedroom)
  • Currently let on a a very hands-off  'Company/rent to rent' basis for around £2800pcm ending May 2019 **SEE BELOW FOR MORE DETAILS**
  • Could be let to students after this for circa £3510pcm excluding bills
Popular location for students and professionals

THE CURRENT COMPANY TENANCY AGREEMENT
 

The landlord currently lets both properties on a three year 'company tenancy agreement', which both come to an end in 2019, in time for a student let for the 2019/2020 academic year if the new owner decided to take this route. This means that the current company let the rooms out themselves, and deals with all of the lettings at no extra cost to the owner. The company let and manage, and carry out a certain amount of maintenance, as well as the cleaning, inventories and check-ins/check-outs etc.

This means for this three year period the owner is very hands-off, doesn't have to worry about void periods, or pay someone to manage the property/manage it them self. As an agency we let student properties in this area, and feel that either continuing with a company tenancy, or letting to students would both provide good sources of income. The monthly estimated income for students comes from comparisons of properties we've let for the 2018/19 academic year for the same price (equal to £90pppw exc bills) just a 0.1 mile walk away! There would even be scope to achieve more than this subject to a very high-end finish. 

CALL US FOR MORE INFORMATION

Please feel free to contact us with any questions, or to arrange a viewing.

You can reach us on 0161 300 9180 and press option '2' for our sales team