This property presents a unique opportunity to acquire two adjacent apartment blocks, comprising a total of ten self-contained one-bedroom flats, well-suited for investors or developers looking for a value-added project in Wigan. The first block, No.4 Park Terrace, includes five units that have been part-refurbished — featuring new kitchens, bathrooms, and flooring in some areas — leaving room for further enhancements to meet modern rental standards. Meanwhile, the second block at No.5 Park Terrace requires comprehensive refurbishment across all five flats, giving future owners significant flexibility to reconfigure layouts and add contemporary finishes that cater to local tenant demands.
Each apartment boasts straightforward open-plan designs with a double bedroom and shower room, allowing for efficient upgrades that can enhance their desirability in the rental market. The area shows robust demand for affordable one-bedroom units from young professionals and long-term renters.
The potential rental yields are appealing; refurbished units in this location typically fetch between £625 and £700 per month, leading to an estimated annual income of £75,000 to £80,000 when fully let post-renovation. Given the guide price of £540,000 for both blocks combined, this project offers a projected yield of approximately 13% to 15%, representing a solid investment opportunity with scope for substantial value addition through renovations.
With clear pathways laid out for refurbishment and increased rental income potential, this listing stands out as an attractive proposition for those keen on undertaking a straightforward yet rewarding renovation project.
