34-38 Great Moor Street, Bolton, Lancashire

Description

A freehold investment opportunity in Bolton town centre, generating rental income of £35,000 per annum, with prior approval granted for the conversion of the upper floors into five apartments. The property comprises three ground floor commercial units, all subject to occupational leases. The approved drawings for the upper floors show five apartments, each comprising an open-plan living space, separate bedroom and bathroom. The property offers investors the opportunity to acquire income-generating premises with scope to add value through the approved residential conversion.

Accommodation

Three ground floor commercial units. Approved drawings for the upper floors show five apartments, each comprising an open-plan living space, separate bedroom and bathroom.

Location

Bolton town centre.

Tenure / Property Information

Investment Analysis

The evidence supports a freehold commercial investment generating stated current rents of £35,000 per annum. No completed-sale comparables, external rental comparables, commercial valuation, residential GDV, conversion cost plan or residential rental evidence has been supplied, so GDV and development-based value conclusions cannot be quantified.

Investment Snapshot

Strategy Recommendation

Prioritise the existing-income commercial investment case and treat the five-apartment conversion as an unpriced value-add option. Proceed only after verifying leases, planning/prior approval, building condition, conversion costs and special-condition fees.

Works Required

Potential conversion of the upper floors into five apartments in accordance with the stated approved drawings and prior approval. The evidence does not provide a specification, condition report, building-cost estimate or confirmation of implementation requirements.

Rental & Market Context

Potential BRRR Position

A refinance assessment cannot be completed because no residential GDV, conversion cost, lender assumptions or post-conversion rent evidence is supplied. The existing income may support an investment strategy, but the upper-floor conversion should not be underwritten without verified planning documents, costs and completed residential valuation evidence.

Buy-to-Let Analysis

The three commercial units have stated current rents of £12,000, £10,000 and £13,000 per annum, totalling £35,000. This equates to 10.45% gross yield against the £335,000 guide and 10.26% against the guide plus the 1.8% buyer premium of £6,030. These are gross figures before finance, tax, insurance, maintenance, management, voids and other charges. Lease expiries and rent reviews should be verified, and no independent rental evidence has been supplied.

Flip Analysis

A flip calculation cannot be completed. No supported GDV, conversion budget, selling allowance or residential sales comparables have been provided. The stated prior approval and drawings indicate potential, but do not establish a resale value or project surplus.

Investor Risks & Due Diligence

• All three ground-floor units are subject to occupational leases, with expiries between January 2030 and June 2032.

• Rent reviews are scheduled at different dates and their outcomes are not supplied.

• No independent rental comparables or formal valuation evidence has been provided.

• The upper-floor apartment conversion has no supplied cost plan, condition assessment, residential rent evidence or GDV.

• Additional fees may be listed in the Special Conditions of Sale and are not quantified.

• Gross yield calculations exclude finance, tax, insurance, maintenance, management, voids and other ownership costs.

Recommendation

Prioritise the existing-income commercial investment case and treat the five-apartment conversion as an unpriced value-add option. Proceed only after verifying leases, planning/prior approval, building condition, conversion costs and special-condition fees.

Strategy Rating

Analysis Confidence

Current rents, lease dates, tenure, guide price and buyer premium are supplied, but there are no sales comparables, external rent evidence, condition details, conversion costs, residential GDV or selling assumptions.