Delph Street

INVESTMENT SUMMARY

65 Delph Street is a well-presented three-bedroom terraced property in Wigan, offered to the market as a fully tenanted, income-producing investment. The current tenants moved into the property at the start of 2024 and will remain in situ upon completion, ensuring an incoming investor benefits from rental income from day one, with no marketing period, void risk, or letting costs to absorb.

KEY FACTS

• Address: 65 Delph Street, Wigan, WN6 7EF
• Property Type: 3-bedroom mid-terrace house
• Tenure: Leasehold – peppercorn ground rent, approx. 799 years remaining
• Tenancy Status: Sitting tenants, in situ since early 2024, sold with tenants in place
• Current Rent: £850 per calendar month (£10,200 per annum)
• Asking Price: £155,000
• Gross Yield: 6.58%

YIELD & RETURNS

This property offers a gross rental yield of 6.58% based on the current asking price and passing rent, a strong return for a tenanted North West terrace, and one that compares favourably against typical buy-to-let benchmarks in the wider region. Key return drivers include:

• Immediate income: rent begins accruing to the new owner from the day of completion, no re-letting delay.
• Established tenancy: tenants in situ since early 2024 provide a proven payment track record ahead of purchase.
• Low ongoing lease cost: a peppercorn ground rent with c. 799 years remaining removes any meaningful leasehold liability, functioning in practice like a freehold hold.
• Reduced acquisition friction: no agency fees for tenant-finding, referencing, or void-period costs to factor into first-year returns.

LOCATION

Wigan sits within the Greater Manchester travel-to-work area and benefits from direct rail links into both Manchester and Liverpool, making it a consistently popular choice for commuters and, in turn, tenants. Compared with core Manchester and Liverpool postcodes, Wigan offers a materially lower cost of entry while still enjoying strong rental demand within the terraced housing stock, a combination that has continued to draw investor interest to the town.

The local market benefits from steady demand from working tenants and families seeking affordable, well-connected housing, supporting consistent occupancy for well-maintained terraced stock such as this.

WHY BUY THIS PROPERTY

• Fully tenanted with immediate rental income from completion
• 6.58% gross yield on a modest £155,000 entry price
• Near-800-year lease at peppercorn rent, effectively freehold in practical terms
• Strong Greater Manchester commuter-belt location with established rental demand
• Hands-off investment: no letting, marketing, or re-tenanting required