This fully tenanted block of nine apartments at Bridgeman Terrace, Wigan, offers a prime investment opportunity. Generating a monthly rental income of £7,347, which translates to £88,164 annually, the property achieves a gross yield of 8.01%, with a net yield of 7.87% after minimal operating costs. The apartments are let under a full repairing and insuring (FRI) lease to a company, ensuring reliable and low-maintenance income. The property has been valued between £900,000 and £1,000,000, making it a high-yield asset in a sought-after area with strong capital growth potential.
The property consists of one studio and eight one-bedroom flats, each featuring individual kitchens and ensuite bathrooms. The block has been refurbished to an excellent standard, with electric heating systems installed and partial double glazing. It includes two off-road parking spaces, adding convenience for tenants. Though it lacks communal gardens and additional parking, the property’s location and modern amenities make it highly attractive to tenants. The block is self-managed, keeping management costs at zero, which further enhances the property’s profitability.
Located in Wigan, this property benefits from excellent transport links and proximity to local amenities, contributing to its high rental demand. Wigan is known for its strong market for residential lets, making this block of apartments a solid long-term investment with potential for further capital appreciation. Its central location ensures continued interest from professional tenants, providing stability for property investors.
*Based on 75% LTV 2.5% APR. Note. Always speak to a qualified HMO mortgage broker for an accurate quote. These rates are an example of the potential % APR rates only. Visit theHMOmortgagebroker.co.uk to find out the latest HMO mortgage rates.
The fee charged to the buyer in addition to the purchase price.
The deposit amount to secure the HMO opportunity. This is fully refundable in accordance with the terms & conditions (see FAQs) and is deducted from the purchasre price upon completion. In the case of this property, the reservation deposit is -- then the balance due on completion is £1,100,000.
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