Fletcher CRE

Your Commercial Property Advisers Across the North West

Brochure / Documents
Enquire Now

Residential Developments

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

10,975 ft² (1,019.58 m²)

Freehold £3,000,000 Freehold

Key features

High Quality Residential Development

Shortlisted for RIBA North West Awards

Fully Let and income producing

Freehold site of 0.7 Acres

Reversionary potential

Back to property search

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.