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Apartments 1-44, Wallgate Apartments, Miry Lane, Wigan, Lancashire WN3 4FQ
Marketed by:
BTG Eddisons
340 Deansgate, Manchester M3 4LY, UK
0345 646 2288
Apartment Investment – Wigan
Apartments 1-44, Wallgate Apartments, Miry Lane, Wigan, Lancashire WN3 4FQ
For Sale
£77,500+
Key Features
Apartment Investment
Located in Wigan
Guide price £77,500+
Status: For Sale
Description
Description A ground rent investment opportunity comprising a total of 43 apartments generating an annual rental return of £6,460. The flats are held on 250 year leases from 1st January 2018 with 10 year RPI reviews. The apartments themselves comprise a mixture of one and two bedrooms and a full copy of the leases can be found within the legal pack. The site fronts onto Miry Lane accessed via Wallgate in Wigan town centre.
Investment Analysis
Investment Snapshot
| Guide Price | £77,500+ |
| Refurbishment / Works Budget | £8,500–£18,000 |
| Purchase + Works | £86,000–£95,500 |
| Estimated GDV | £78,000 low / £85,000 base / £92,000 high |
| 75% Refinance – Base GDV | £63,750 |
Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.
Market Comparables
Specialist asset: working market value is estimated from guide, asset type, income/development potential and local market evidence; midpoint £85,250.
HB estimated GDV: £78,000 low / £85,000 base / £92,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.
Proposed Works
| Compliance/surveys | £1,000–£2,000 |
| Repairs | £1,500–£3,500 |
| Decoration/flooring | £2,000–£4,500 |
| Kitchen/bath contingency | £2,500–£5,000 |
| Contingency | £1,500–£3,000 |
| Total | £8,500–£18,000 |
The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.
Strategy & Value Analysis
This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.
Key Risks
Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.
Auction Details :
BTG Eddisons
Auction Date :
29/09/26
Lot Number :
017
Property Location:
Apartments 1-44, Wallgate Apartments, Miry Lane, Wigan, Lancashire WN3 4FQ
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