- Fully furnished & set up as serviced accommodation
- All appliances, sofa beds, TV's & kitchen ware included
- 1 parking space per apartment
- Central location short walk to all amenities & business's
- Bookings during December 2019 & in 2020
- Rental costs covered by booking revenue from takeover date
Canalside apartments in vibrant and sought after Northern Quarter of Manchester City Centre.
Sourcing fee: £5,000 per apartment
3 x 2 Bed and 1 bathroom apartments available immediately.
Fully furnished, including a sofa bed, TV's, fridge freezer, washing machine, microwave, kettle, toaster and kitchen utensils.
Little to no set-up cost as already operating with everything in them.
Hands off business model if using a management company, therefore, an investor can be based anywhere.
Below are figures based on an average of 80% annual occupancy:
- £800 per week gives £640 per week at 80% occupancy.
- £640 x 52 weeks = £33,280 total annual income.
- £33,280/12 months = £2,773 total monthly income.
- £1,250 monthly rent per apartment.
- £2,773 - £1250 rent - £400 bills = £1,123 profit per month per apartment.
- £13,476 annual profit x 3 apartments = £40,428 annual profit.
- £40,428 x 3 years contract = £121,284.
- ROCE 210% for 1st year
(Please bear in mind there is no sourcing fee or deposit for years 2 & 3 since these have already been paid in Year 1 therefore giving a much higher ROCE for subsequent years).
Which property investment can give these kind of returns for an initial outlay of £5,900 per apartment for an up & running business?