Property for sale in Manchester M34, 8 Bedroom

**fully let 7 bed hmo** **+ 1 bed flat**

Nextoria are pleased to offer this Ready-made investment property consisting of one 7 bedroom hmo and one annex 1 bedroom flat. The property is licensed for 12 people so some rooms can have couples for higher rent. The property is fully rented with a mix of fixed and periodic term ASTs.

For More Info Contact Nextoria

See Below

Current gross average rent
£738.46 per week
£3,200.00 per month
£38,400.00 per annum

The property is held in a limited company. This may give the buyer a choice whether to purchase the company or the property privately. The buyer is advised to contact relevant professional to determine the best course of action for them. When purchasing the shares of a company, there will be a stamp duty at 0.5% against purchasing the property where stamp duty could be as much as 13%.

Purchasing a property in a limited company may save on tax over purchasing a property privately. Private individual owners pay income tax on gross income across all properties. Depending on their current tax bracket, this can increase the more rent they earn. Purchasing the property in a limited company limits the income tax to only 19% of net profit of the company. Scheduled to drop to 18% in April 2020.

Management
The property is currently managed by an approved management company

The property is fully furnished with quality furniture, fixtures, fittings and all white goods. The property comes with CCTV and all the necessary certificates in place.

Reservation deposit non refundable fee: 1% Plus Vat - Once paid property will be taken off market. The fee will then be deducted of the payment due once sale is complete.

For More Information Contact Nextoria.