Property description
Aadam Estate Agents are pleased to offer for sale this fantastic investment opportunity!!! Leaving its commercial roots behind, Grove House will be converted into modern, functional residential apartments for both young professionals and families. The site is located in the established residential area of Old Trafford, just 1.7 miles South West of the City Centre, and is adjacent to Trafford Bar Tram stop providing easy access to the city, Old Trafford football and cricket grounds and Media City.
Architects have designed each apartment with today`s discerning tenant in mind, offering well planned accommodation with enough room to socialise and live. The contemporary fixtures and fittings are designed specifically for Grove House to provide a modern and resilient finish to each apartment.
What income will i receive?
The rental you will receive will be in the region of 7%. For the first 2 years Harper Brooks (the appointed management company) will fully manage your property and account for all service charges. Ground rent will be deducted.
When will the building be complete?
We anticipate that the building works will start in April 2015 and will be complete from February 2016.
How will the payments be structured?
There are 3 options to choose from:
Option A: 50%/30%/20%
Pay reservation fee, upon exchange pay 50% (less reservation fee) a stage payment of 30% (due 90 days after exchange) and a final payment of 20% upon completion.
This option includes a 4% Coupon on deposited monies from exchange to Practical Completion. This will be balanced and deducted on your completion statement.
Option B: 50%/50%
Pay reservation fee, upon exchange pay 50% (less the reservation fee) and a final payment of 50% upon completion.
This option includes a 4% Coupon on deposited monies from exchange to Practical Completion. This will be balanced and deducted on your completion statement.
Option C: 80%/20%
Pay reservation fee, upon exchange pay 80% (less the reservation fee) and a final payment of 20% upon completion.
This option includes a 6% Coupon on deposited monies from exchange to Practical Completion. This will be balanced and deducted on your completion statement.
Option D: 25%/75%
Pay reservation fee, upon exchange pay 25% (less the reservation fee) and a final payment of 75% upon completion.
Is finance available?
Investment or buy to let mortgages for residential property are readily available, however they are dependent on personal circumstances. Please contact us for more details.
Do not miss out on this oppurtunity, for more information or to book a site visit or meeting, please contact us on 0161 284 0644 or email us at sales@aadam.co.uk using the property reference (250).
Disclaimer: All our particulars are prepared with care. They are intended to give a fair and accurate description of each property. We cannot guarantee the accuracy on every detail. All purchasers must rely on their own inspection of the property and upon their own investigation of the material facts, on which they wish to rely. Our particulars do not constitute an offer to sell or form any part of the contract of sale. None of the appliances/moveables or services referred to have been tested by us and no warranty is given or implied.
NoticePlease note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Property Features :
- 72 Apartments over 9 floors, there will be a range of one and two bed apartments with units sizes
- Located in Old Trafford just 1.7 miles, South West of Manchester City Centre
- M16 postcode
- Assured net returns 7% net for 2 years
- February 2016 completion
- 999 year lease