Horseshoe Inn, 919-921 Ashton Road, Hathershaw, Oldham, OL8 3HX

Category For Sale
Type Development Opportunity
Size 5,177 sq ft / 481.0 sq m
Price £400,000

Description

Development Opportunity.
Planning Granted in 2020 for;
•5 x 1 Bedroom Apartments.
•Plus 9 Bedroom HMO.
Gated Rear Parking Area.
Hard Standing to Front.

FOR SALE: Offers in the Region of £400,000.

The property is approximately 2 miles from Oldham town centre, and 2 miles from Ashton under Lyne, in a primarily residential location, close to both Park Bridge and Daisy Nook.

A period, detached former public house with living accommodation, which now has planning consent to convert and extend the ground floor, to provide 5 x 1 bedroom apartments, together with a separate planning consent to convert the upper floors to a 9 bedroom house of multiple occupancy (HMO). The property benefits from being set back with a paved area to the front, and a gated rear yard, which provides parking and bin stores.

It is estimated that the annual income from the 9 bedroom HMO could be in the region of £46,800 (£100 per week, per room, all inclusive) plus 4 x apartments at £5,400 and 1 x apartment at £6,000. Giving a total estimated gross annual income in the region of £74,400. However, prospective purchasers should obtain their own independent assessment and advice on potential rent.

We are informed by the client that an HMO fire alarm system has been installed to upper floor, which covers all rooms, the communal rooms, and access corridors etc. This is along with a CCTV system covering access and communal areas. No checks have been made by Breakey & Nuttall, so purchasers are advised to satisfy themselves as to the systems in place.

Planning was granted under reference number FUL/345531/20 on 9th December 2020 to convert the ground floor to 5 x 1 bedroom apartments. In July 2020 planning was granted under reference PA/345094/20 to convert the first floor to a 9 bedroom house of multiple occupancy.