Latest Valuation
£
ROCE
%
Location

Turnkey Rent to Rent Serviced Accommodation

Running Serviced Accommodation in Manchester City Centre
Guide Price
£1,250

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Key Features

  • 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

The Property

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?

Planning Information

The Plan

To take the properties and continue running them as serviced accommodation. To take over existing bookings and revenue generated from those bookings from date of takeover.

Offered on a 3 year rent to rent contract with annual break clauses to give you flexibility.

Terms are negotiable.

The Location

Northern Quarter is a very trendy and sought after location of Manchester City Centre which is popular for both leisure and business clients of all ages. MM2 is set alongside a canal & in a quiet location but just a few minutes walk from all that the city centre has to offer. This is a great location close to everything yet away from all the hustle & bustle of the city centre.

Within short walking distance of the central shopping district & close to many major businesses. Piccadilly Train Station, Printworks, Deansgate, many restaurants, bars, cafes & vibrant nightlife of Manchester all less than 10mins walk away.

Manchester City Etihad Stadium is within 2 miles, Manchester United Old Trafford Stadium is within 3 miles, Old Trafford cricket ground is within 3 miles, Trafford Centre is within 4 miles & many other attractions within 10 minutes drive away. Tram stations are at Piccadilly station & Victoria Station both within 10mins walk.

Average estimated value for a house in M4 5BS

£

Figures are based on annual averages since this is a seasonal business & spring/summer months will achieve higher nightly rates & occupancy levels than winter months.

Nightly rate weekdays £100
Nightly rate weekends £150

Sleeps up to 6 guests.

Total £800 per week at 100% occupancy.

Realistically expect 80-90% occupancy per month if the business is operated correctly.