£170,000
Crown House
- 0 beds
£170,000
- 0 beds
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Key Features
- Location: First Floor Apartment in Crown House, a secure, gated block of 20 units
- Bedrooms: 2
- Bathrooms: 2
- Parking: 1 designated space
- Outdoor Space: Gardens both within the secured compound and outside the property
- Size: 60 sqm (EPC registered)
- Built: 2008 (No extensions or major building works since)
- Tenure: Leasehold – 134 years remaining (until 31st December 2159)
Financials
- Asking Price: Offers above £170,000
- EPC Rating: C
- Current Tenancy:
- Started: 26th August 2023
- Rental Income: £1,150 PCM / £13,800 per annum
- Fully tenanted – Tenants wish to remain
- No arrears; historically 100% rent collection
- Ground Rent: £170 p.a. (fixed, invoiced annually in July)
- Service Charge: £1,769 p.a. (typically reviewed annually by RMG)
- Letting Agent: None – Fully self-managed
- Tenure Documentation: EWS1 Certificate Available
Yield Analysis
Gross Annual Rent: £13,800
Annual Cost (Ground + SC): £1,939 PA
Net Annual Rent: £11,861 PA
Gross Yield: 8.12%
Net Yield: 6.98%
Note: These calculations do not include repairs, voids, or tax liabilities.
Why Invest Here?
- Secure Gated Development
- Excellent Location with transport links to Manchester Airport & City Centre
- EWS1 Certificate Compliant
- High Occupancy Rate – Apartments in this block typically rent within a week
- No Major Works Needed – Excellent internal condition
- Long Lease – Over 130 years remaining
- Straightforward Management – No managing agent fees
Tenant Profile
- Long-term, stable tenancy in place
- No history of late payments or complaints
- Current tenancy runs from August 2023 with ongoing interest in renewal
Additional Notes
- Self-Managed Investment – Flexibility and cost-efficiency
- All building regulations met at original construction (2008)
*Viewings of this property are available; however, please note the property is tenanted and we need to respect the tenants' right to a peaceful environment. As such, we will require proof of funds from all parties before booking a viewing appointment. On receipt of the above, we will then arrange access*
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