Lot 5 - 106 Gidlow Lane, Wigan, Lancashire, WN6 7DY

  • Unconditional Online Auction Sale
  • Guide Price* : £165,000+
  • Bedrooms: 4
  • Bathrooms: 3
  • Reception Rooms: 1

A fully tenanted four bedroom, two bathroom HMO with lower commercial unit. Both are currently under individual leases to a supported living provider

Description

• Mid-terrace mixed-use property
• 4 bedroom, 2 bathroom HMO with office/shop unit on the ground floor
• 4 bedroom HMO under a 5 year lease with a rental income of £1,491.20 per month / £17,894.40 per annum
• Office space under a 3 year lease with a rental income of £7,200 per annum
• Impressive 15.1% gross yield on guide price
• Tenants cover all utility bills


Location

Situated on the well-connected Gidlow Lane in Wigan, the property can be accessed via the A49 and A577. Providing direct routes to Wigan town centre, Royal Albert Edward Infirmary, and Wigan and Leigh College. Set within a well-established residential area, it is close to a range of local amenities including shops, schools, and parks.

Transport links are provided by both Wigan North Western and Wigan Wallgate Rail Stations.

Auctioneer Notes

Internal Images
Buyers should note that the internal images have been provided by the seller. These pictures were taken prior to the 5 year rental agreement starting. The auctioneers have not had the opportunity to the property prior to marketing the property for auction.

HMO Compliance

- EICR
- Gas Safety Certificate
- Fire Risk Assessment
- Emergency Lighting Test
- Fire Alarm Test Certificate

Copies of these documents can be found within the legal pack

Tenancy Details

Lease dated 30th April 2025 for 5 years until 30th April 2030. Rental income £1,491.20 per calendar month in one month in arrears.

Commercial Lease dated 4th April 2025 for 3 years until 4th April 2028. Rental income £7,200 per annum

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). This is not necessarily a figure which a property will sell for and may change at any time prior to the auction. Every property will be offered subject to a Reserve Price (this is the sellers minimum expectation) which will be set within either a Guide Range or no more than 10% above a single figure Guide Price.

The Buyers Administration Fee of £1,500 (inclusive of VAT) is a separate charge payable in addition to the price a Lot sells for. In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, HMO X Auctions must hold a minimum amount from all bidders. This participation amount and administration fee are fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,000 comprises £3,500 relating to your bidder security (which forms part of your 10% deposit payment) and the buyers administration fee of £1,500 (inclusive of VAT).

Please note that Lots may be sold or withdrawn prior to auction without prior notice.

Any information provided by HMO X Auctions or the seller, whether in writing or orally, does not constitute a representation, condition, or warranty. The information given is for illustrative purposes only and should not be considered as fact. Any mistakes, omissions, inaccuracies, or mis-descriptions in the information provided will not give rise to any legal action or compensation against HMO X Auctions or the seller.

All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of HMO X Auctions or the seller.

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Financing

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