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Home , Ancoats, Burnage, Burnage (ward), Deansgate (ward), Didsbury, Hulme

2-4 ALNESS ROAD, WHALLEY RANGE, RARE OPPORTUNITY TO PURCHASE AN UNBROKEN ,M16 8ET FREEHOLD INTEREST RESIDENTIAL INVESTMENT INVESTMENT SUMMARY LOCATION DESCRIPTION MANCHESTER MARKET OVERVIEW FURTHER INFORMATION

INVESTMENT SUMMARY

• Rare opportunity to purchase an unbroken freehold interest • The investment benefits from 8 car parking spaces and a secure residential investment comprising 9 apartments. cycle storage shed.

• Attractive Victorian building providing larger than average • Attractive break-up or investment opportunity. Short-term asset apartments. management opportunity for immediate rental growth.

• Situated in Whalley Range, a popular suburban hot-spot situated • We are instructed to seek offers in excess of £1,100,000 (One Million, just 1.8 miles south of Manchester , which has benefited One Hundred Thousand Pounds), subject to all existing tenancies, from substantial capital growth in recent years. contract and exclusive of VAT. A purchase at this level reflects an attractive Gross Yield of 6.11% assuming Multiple Dwellings relief, • The building comprises a good mix of one, two and three bedroom and discount from VP in excess of 14.96%. apartments.

• The investment is fully let, producing a total gross rental income of £70,440 per annum. INVESTMENT SUMMARY LOCATION DESCRIPTION MANCHESTER MARKET OVERVIEW FURTHER INFORMATION

LOCATION Whalley Range benefits from a good range of nearby amenities including:- • Co-operative Food and Tesco Express situated just a short Manchester is located in the north-west of and is excellently walking distance away. connected with an extensive railway network, international airport and motorway links including the M6 and M62. • Numerous good quality education institutions situated nearby including St Bede’s College, St Margaret’s C of E, William The subject property is located in the suburb of Whalley Range, ’s Grammar School and Whalley Range High School. approximately 1.8 miles south of the city centre. The area is extremely popular with young professionals, mature students and families. • The is located just 3.2 km (2 miles) north- east, which benefits from a large population of 40,490 students. The property is on Alness Road, situated just off Road which is one of the main thoroughfares facilitating access to Chester • Manchester Royal Infirmary and St Mary’s Hospital are situated Road (A56) which links to in the city centre. 3.5 km (2.2 miles) from Upper Road. • Intu Centre, which is the third-largest shopping centre in the UK, is situated just 5.6 miles (9km) north-west. A56 SWINTON A665 A580 M60 A62 • Alexandra Park is situated nearby, comprising 60-acres of CHEETHAM HILL parkland which has recently been restored with funding from M60 A6 Heritage Lottery Fund, , the Lawn Tennis M60 A5063 DROYLSDEN ECCLES MANCHESTER Association, English Cricket Board and Sport England. CITY CENTRE

ORDSALL A635 A56 18 A34 HULME A6 A57 M67 ALNESS ROAD 2-4 ALNESA56 ROAD DENTON URMSTON WHALLEY RANGE CHORLTON-CUM-HARDY M60 A6010 14 16 CARRINGTON A6 2 4 8 10 M60 A5103 BREDBURY

SALE RANGE ROAD RANGE WEST 17 A56 DIDSBURY M60

21 INVESTMENT SUMMARY LOCATION DESCRIPTION MANCHESTER MARKET OVERVIEW FURTHER INFORMATION

DESCRIPTION SCHEDULE OF ACCOMMODATION

The property comprises two double fronted, attractive Victorian semi- FLAT NUMBER PROPERTY ADDRESS NO. BEDS detached buildings, which have been subdivided to provide a total of 9 high quality residential apartments. The property is set back from 1 2 Alness Road 3 Alness Road. Parking is available to the rear of the property for 8 2 2 Alness Road 3 spaces. To the rear of the block there is also a good sized communal 3 2 Alness Road 2 garden and a secure cycle shed. 4 2 Alness Road 2 The building has two main entrances to the front, which lead to 5 4 Alness Road 3 communal corridors providing access to the stairs. Each apartment 6 4 Alness Road 3 is larger than average and presents very well internally with modern 7 4 Alness Road 2 kitchens and bathrooms. The kitchens are fitted with gas cookers 8 4 Alness Road 1 and all white goods. The flats benefit from central heating throughout 9 4 Alness Road 1 and cavity wall insulation.

INVESTMENT SUMMARY LOCATION DESCRIPTION MANCHESTER MARKET OVERVIEW FURTHER INFORMATION

MANCHESTER MARKET TENURE We are instructed to sell the freehold interest of the property. OVERVIEW

• The Manchester residential market has been buoyant over the TENANCIES last 5 years with a substantial under-supply underpinning the The property is fully let and all apartments are subject to Assured market place. Shorthold Tenancies. The total current gross rent is £70,440 per annum.

• Capital growth over the last three years has been reflected at 10%, A tenancy schedule and sample AST’s are available on request. 7% and 9% for 2015, 2016 and 2017 respectively.

• Similarly rental growth over the last three years has been reflected at 10%, 7% and 4% for 2015, 2016 and 2017 respectively.

• The domestic sales market is witnessing a substantial undersupply of sensibly priced apartments for residents who want to live, work and buy in .

• The overall Manchester economy is booming with a Gross Value Added of £3.1bn which is underpinned by high levels of jobs growth, extraordinary population growth and higher than average salaries.

• There is a significant demand for suburban living accommodation to the south of Manchester city centre, with Whalley Range, Didsbury and Chorlton all capitalising on strong capital growth in recent years. INVESTMENT SUMMARY LOCATION DESCRIPTION MANCHESTER MARKET OVERVIEW FURTHER INFORMATION

FURTHER INFORMATION METHOD OF SALE This investment opportunity is for sale by way of Private Treaty. However, we reserve the right to conclude marketing via an informal tender process. DATA SITE A data site has been prepared which includes all other necessary documents including floor plans, Energy Performance Certificates, sample AST’s and tenancy schedule. Access can be provided upon request. PROPOSAL We are instructed to seek offers in excess of £1,100,000 (One Million, One Hundred Thousand Pounds), subject to all existing tenancies, contract and exclusive of VAT. A purchase at this level reflects an attractive Gross Yield of 6.11% assuming Multiple CONTACT Dwellings relief, and discount from VP in excess of 14.96%. ELLIS HEARFIELD 0161 242 7012 VAT [email protected] The property is not elected for VAT. IAN SCOTT VIEWING INFORMATION 0161 242 7070 The property will be subject to block viewing arrangements and will not be [email protected] available to view internally outside of these times. Please contact a member of the Important Notice. Lambert Smith Hampton give 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 team to register your interest and obtain block viewing details. but are not intended to constitute part of an offer or contract. 2. Any information contained herein (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. 3. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise nor that any services or facilities are in good working order. 4. The photographs appearing in this brochure 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 S.21 ESTATE AGENTS ACT 1979 in respect of parts of the property which are not shown in the photographs. 5. Any areas, measurements or distances referred to herein are approximate only. 6. 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 For the avoidance of doubt, LSH disclose that the vendor could be considered an regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 7. Descriptions of a property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of associate of LSH and the relevant sections of the Estate Agents Act 1979 therefore statement of fact. Published May 2018, photography taken April 2018. apply to this disposal during the marketing process and any subsequent negotiations.