Overview

5-bed HMO for sale in Salford. Salford has a population of just under 300,000 people with approximately 2.8 million people living in the wider Greater Manchester Area and is home to several industries such as BBC, ITV, Manchester United Football Club, Salford Royal Hospital & the University of Salford. Nearby is Trafford Park, one of Europe’s largest industrial estates and the Trafford Centre shopping centre providing 35,000 jobs which will rise due to the expansion of the site. The BBC is based in Salford Quays, Media City and provides around 3,000 jobs with a further 250 other business also being based here.

Salford has fantastic road connections such as the A6, A580, M602 & M60 allowing easy access to anywhere in both Greater Manchester & and the north-west of England. Salford has several trains and Metrolink stations such as Salford Central, Salford Crescent, Eccles & Salford Quays allowing easy access to commuters.

Investment Information

• Full Address: 26 Cedric Street, Salford M5 5JY
• Number Of Bedrooms: 5
• Rentals Information: Currently generating £2,600pcm ( £31,200 per annum)
• Single Room: £500pcm
• Single Room: £500pcm
• Single Room: £500pcm
• Double Room: £550pcm
• Double Room: £550pcm
• HMO planning permission approved for the property. This was issued on the 24/11/2023
• Expenses:
• Gas (fixed): £40pcm
• Electricity (fixed): £40pcm
• Water (fixed): £33.05pcm
• TV License: £13.25pcm
• Internet (fast speed): £39.81pcm
• Council Tax: £148pcm
• Insurance appliances: £23.74pcm
• Total: £337.85pcm (£4,054.20 per annum)
• All the contracts have a fair usage clause. Any excess of usage above £8 per fuel per person is chargeable.
• The water is charged on a fixed meter.
• Net Income: £27,145.80
• Gross Yield: 9.0%
• Net Yield: 7.8%
• Tenure: Freehold
• Tenant Information: Majority of the tenants are working professionals. Occasionally a mature postgraduate student may be in place.

Price range:

5 Bedroom HMO £346,000

Reservation:

£2,000 reservation fee (takes the unit off the market)

Broker Fee 6%

Exchange though solicitor 

Completed project 

Mortgage or cash