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Property Name/Title FOR SALE 85 – 87 WELLINGTON ROAD, FALLOWFIELD, MANCHESTER, M14 6BN WELLINGTON ROAD, FALLOWFIELD WELLINGTON ROAD INVESTMENT HIGHLIGHTS: ➢ A fantastic opportunity to purchase well-located student HMO opportunity in Manchester – Fallowfield ➢ An established student HMO area ➢ The property comprises 4 flats and 1 house providing 32 student beds ➢ The property is located in the heart of Fallowfield being a 2-minute walk to Oxford Road and the nearest bus stop to the university ➢ Each property has been recently refurbished with great amenity space ➢ Gross Rent – £164,270 pa ➢ Offers sought in the region of £1.85 million FOR SALE 85-87 Wellington Road, Fallowfield, Manchester, M14 6BN Manchester – Fallowfield ➢ Fallowfield is a vibrant suburb located south of the city centre with over 50% of its residents University of Manchester studying at one of the universities. (North Campus) ➢ An established student location close to the University of Manchester’s Fallowfield campus ➢ Fallowfield is located Manchester Metropolitan approximately 2 miles from the main university buildings, with a University Oxford / Wilmslow Road great mix of shops, cafes and bars making it the most popular location for students to live. University of University of Manchester Manchester ➢ All properties are just a short walk (Main Campus) (Fallowfield to the 'Oxford Road Corridor’, Campus) which remains the busiest bus route in Europe, with a service approximately every 90 seconds, WELLINGTON taking students to the university ROAD campuses and city centre. ➢ Bus stop located 2 mins away near Granville Road Walk 2 min Bus Stop Tenure Available Freehold Title Numbers: 85 / 85B Wellington Road – GM15545 87 Wellington Road – GM069082 Planning Planning permission for was granted in February 2007 (planning application number 081119/FO/2006/S1) for ‘Erection of extensions to two outriggers and conversion of roof space to create 4 duplex apartments and 1 self contained flat, erection of a single storey side extension to form double garage and provision of associated car parking and landscaping’, and planning permission was granted in May 1994 for the garden at the side of 85 Wellington Road for, ‘Erection of a detached dwelling house with integral garage’ (planning application number 045511/FO/SOUTH2/94). FOR SALE 85-87 Wellington Road, Fallowfield, Manchester, M14 6BN PROPERTY DESCRIPTION ➢ 5 HMOs in the heart of Fallowfield ➢ 85B Wellington Road: a detached house, constructed in the early 1990’s over three floors. Recently refurbished, the house provides 8 bedrooms, two bathrooms and communal kitchen and living areas on the first floor. ➢ The property is of masonry construction with wooden framed double glazed windows and pitched tiled roof. ➢ 85 and 87 Wellington Road are semi-detached former Victorian villas comprising a flying freehold of four duplex flats across the two buildings. The property is of masonry construction with pitched slate roofs and UPVC double glazed windows. ➢ 85 Wellington Road: split into two duplex apartments providing a 6 (Flat 2) and 8 (Flat 1) bedroom flat respectively. ➢ Flat 1 comprises the ground and lower ground offering 8 bedrooms and four bathrooms with communal living and kitchen areas on the ground floor. ➢ Flat 2 occupies the first and second floor of the building providing 6 bedrooms and two bathrooms with communal living space and kitchen on the first floor. ➢ 87 Wellington Road: two duplex flats comprising a 6 (Flat 2 – FF & SF) bedroom and 4 (Flat 1 – Ground & LG) bedroom apartment respectively ➢ All properties come fully furnished with double beds, wardrobes, desks, chairs, bedside tables and offer great amenity space with shared living room areas providing comfy sofas, and separate dining room / kitchens. Kitchens include dishwashers, fridge freezers, washing machines and dryers. Rent Profile for 2019/20 Property Beds Price per bed Price per Rent (pa) Notes per week pcm 85B Wellington Road 8 £102 £3,520 £38,720 Let on a 12 month tenancy with half rent over July and August. Let as a house. F1, 85 Wellington Road 8 £110 £3,800 £45,600 Let on a 12 month tenancy – no incentives. Let as a house. F2, 85 Wellington Road 6 £103 - £106 £2,703 £27,950 Let on a room by room basis. Room 1 let at £458.33 pcm for 12 month tenancy. Rooms 2&6 let at £449 pcm each for 12 month tenancy with no summer rent. Rooms 3, 4 & 5 available at £449 pcm. F1, 87 Wellington Road 4 £112.50 £1,950 £23,400 Let on a 12 month tenancy – no half rent. Let as a house. F2, 87 Wellington Road 6 £100 £2,600 £28,600 Let on 12 month tenancy with half rent over July and August. Let as a house. Total 32 £164,270 Rents are inclusive of bills FOR SALE 85-87 Wellington Road, Fallowfield, Manchester, M14 6BN MANCHESTER STUDENT MARKET ➢ Home to two highly regarded universities and further higher education institutions in the surrounding area. ➢ Full-time student population (including Salford) is c. 83,000 students ➢ 65,000 full-time students study at the two main universities – University of Manchester and Manchester Metropolitan University. ➢ Approximately 20% of the total students in the city is accounted for by overseas students with the University of Manchester having a c. 34% overseas student population. ➢ Both universities have invested heavily over the last couple of years ➢ The University of Manchester is partway through a £1 billion campus masterplan from 2012 – 2022. ➢ Man Met has invested £350 million in specialist buildings and teaching facilities with a further £400 million investment planned across the university’s facilities, buildings and public spaces. ➢ Manchester has an established HMO market, which centres around the Fallowfield area. University Full time International Applications Time 2019 Student Students Students to Place Rank Population Growth 2012 - 2017 University of 36,650 13,590 8.8 19 9% Manchester Manchester 27,965 2,285 6.7 69 5% Metropolitan University RNCM 930 285 N/A N/A 26% Source: The Sunday Times Good University Guide 2019 Item No. of beds 24,032 Private Rooms 15,886 (66%) Pipeline 6,832 (4,557 approved) Rental Growth (2017/18 – 2018/19) Uni 4.0% / Private 5.9% Source: HESA and Cushman & Wakefield Student Accommodation Tracker Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE 85-87 Wellington Road, Fallowfield, Manchester, M14 6BN PROPOSAL Offers are invited in excess of £1.85M (One Million Eight Hundred and Fifty Thousand Pounds) for the Freehold interest. TENURE METHOD OF SALE Freehold The property is offered for a sale by means of private treaty although we reserve the right to conclude via VAT means of informal tender The Property is not elected for VAT DATA ROOM For more information, please contact: Data room available on request Russell Hefferan 0161 235 7666 INSPECTION [email protected] The property may be viewed by appointment Katherine Almond only 0161 235 8955 [email protected] Olan Coyle 0161 235 8975 [email protected] MISREPRESENTATION ACT: Cushman & Wakefield Debenham Tie Leung Limited ("C&W") gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any part of an offer or contract. 2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order. 3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only. 4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 5. No person in the employment of C&W has any authority to makeCushmanor give & Wakefieldany representation Copyright or2015.warranty No warrantywhatsoever or representation,in relation to this expressproperty or implied,.6. This isproperty made tois theoffered accuracysubject or tocompletenecontract andss ofunless the informationotherwise containedstated all rentsherein,are andquoted exclusivesame is submittedof VAT.7 subject. Unless to otherwiseerrors, omissions,stated, nochangeinvestigations of price, rentalhave orbeen othermade conditions,by or withdrawalon behalf ofwithoutC&W notice,regarding and tpollution,o any specialor potential listing conditionsland, air imposedor water bycontamination the . Interestedproperty owner(s).parties are As advisedapplicable,to carry we makeout their no representationown investigations as toas therequired condition. Date of theof publicationproperty (orAugust properties)2019 in. question..
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