Old School House, Lea Gate, Bolton, North West, BL2

The opportunity is to acquire a fully let modern residential investment. The property comprises a converted former School House with a new build extension completed towards the end of 2021. Providing 14 modern apartments each offering their own unique style and character. The accommodation ranges from 1- 3 bed apartments offering a mix of single floor, duplex and in one instance triplex living. The property extends to a total accommodation of 10,975 sq ft on a site of 0.7 acres

The investment is fully occupied and had a high level of demand due to the property being situated in a very popular area of Bolton. From the information provided we understand the current net Income £181,320, plus a Service charge cost which is being paid by the tenant equating £18,456 resulting in a total annual Income of £199,776 per annum. We feel the apartments are reversionary and we estimate they have an Estimated Rental Value of £200,000 per annum plus the service charge.

The apartment is situated in an attractive setting, it benefits from a large car park and landscaping. There are a number of amenities close by, including restaurants pubs a local shopping parade and Morrisons supermarket. There are also a number of excellent primary and secondary schools in the near vicinity.