5-7 Old Street, Ashton-Under-Lyne

A GREAT INVESTMENT PROPERTY TO BE SOLD UNDER COMMON AUCTION CONDITIONS
NEXT AUCTION DATE: MONDAY, 21st JULY 2025.
Nestled in the heart of Ashton-Under-Lyne, this remarkable development property on Old Street presents an exceptional opportunity for investors and developers alike. Currently configured as a fully tenanted building, it generates an impressive income of £4,300 per calendar month from its individual flats and shop, making it a lucrative venture from the outset.

The property boasts three spacious reception rooms and a total of ten bedrooms, complemented by five bathrooms, providing ample accommodation for future tenants. The existing layout includes a ground floor shop, which is currently vacant, alongside a three-bedroom flat with a rear entrance and parking facility, generating £1,200 per month. The first floor features another three-bedroom flat, also bringing in £1,200 per month, while the second and third floors house a generous four-bedroom flat, yielding £1,350 per month.

This property offers a unique chance to convert the entire building into a twelve-bedroom House in Multiple Occupation (HMO), subject to the necessary planning permissions and licensing. The potential for increased rental income through this conversion is significant, making it an attractive proposition for those looking to expand their property portfolio.

Situated in a vibrant town centre, this property benefits from excellent transport links and local amenities, ensuring a steady demand for rental accommodation. Whether you are an experienced investor or a newcomer to the property market, this development opportunity is not to be missed. Embrace the potential of this versatile property and secure your future in the thriving Ashton-Under-Lyne area.