We are proud to announce our property division has recently expanded into the North West and is offering a pair of attractive lots ideal for Manchester’s huge student market as part of its upcoming online property auction.
Our ‘Northern Hub’ in Salford Quays in 2017 – has two six-bedroom lots on offer within a short walk of the University of Manchester.
Richard Reed MRICS, head of our property department said: “Manchester has one of the largest student populations in Europe, so the city is the ideal place for investors looking for a buy-to-let property for that purpose.
“With average gross rental yields above the national average, the Manchester student market can be very profitable, and the two lots available certainly fit the bill for investors looking to build their portfolio.
“Both consisting of six-bedrooms over three floors, the properties have proven rental value and have the potential to be let out on a room-by-room basis.”
The lots – on Ossory Street and Acomb Street in the Moss Side area of the city – sit less than a quarter of a mile apart and are within walking distance of local amenities, as well as the popular Whitworth Park.
Richard said: “The Acomb Street lot is currently let at £1,300 pcm, reflecting an annual gross yield of 6.24% based on the auction guide price. However, subject to attaining the necessary licensing, there is potential for that to be dramatically increased if the property were to be let on a room-by-room basis.
“The Ossory Street lot is currently vacant, but with minimal repair work, it has the potential to achieve a rental income of £25,000 per annum based on letting each room out at £80 per week, which is around the average for student properties in the city.
Online auctions are becoming an increasingly popular way to buy and sell properties, making it much easier for investors to discover new investment opportunities to grow their portfolio.
“Our distinctive method combines our expertise in the industry with the ease of an online auction, and is one of our unique selling points,” Richard added.
“The John Pye online property auction continues to grow significantly, with new property stock constantly being offered to the market.”
We regularly feature properties from across the UK including residential, commercial and buy-to-let properties. Our latest monthly online property auction will go live on Wednesday April 25 and conclude on Thursday April 26 2018.
To speak to our in house property experts, phone 0115 970 6060 for more information. Viewings are available by appointment.Browse our properties