Description

Detached Three Storey Residential Block

22 Vacant Units

18 x Studio/Bedsits

3 x 1 Bed Apartments

1 x 3 Bed Managers Unit

Small Car Park

Estimated Gross Annual Income £108,000

Estimated Net Annual Income £86,400

FOR SALE – Offers Around £800,000

St Marks Court is a detached three storey apartment complex, which has accommodation over three floors, including communal areas. There are 18 x studio/bedsits, 3 x one-bedroom apartments, and 1 x three bedroomed two storey unit, which was the managers accommodation. All units have separate kitchen and shower room facilities, mainly wet rooms. To the ground floor there is a large communal lounge with kitchen off, along with reception office and laundry room and stores, plus 5 residential units, there are 8 units to the first floor, and 9 to the second. There is a passenger lift, communal heating system, controlled entry system, a range of paved and grassed areas to three sides and a small car park to the rear.

There is understood to be a covenant restricting development to private dwellings or sheltered accommodation.

The property is currently entirely vacant.

In July 2022 the sellers commissioned a report which estimated potential gross annual income to be £108,000, with estimated potential net annual income of £86,400, upon being fully let.

St Marks Court is located on the eastern side of Milne Street, which is accessed from Middleton Road (A669) via Broadway (A663) close to Chadderton Mall, approximately 1.2 miles from Oldham town centre and 7 miles from Manchester city centre.