3 bed Semi-Detached House For Auction

TO BE SOLD BY ONLINE AUCTION ON 22ND – 23RD APRIL UNLESS SOLD PRIOR UNDER AUCTION TERMS.31, Ridgefield Street, Failsworth, Manchester, M35 0LQAn excellent opportunity to acquire a property with significant development potential in a well-established and high-demand residential area of Manchester. In brief it comprises; hallway, lounge, dining room, kitchen, downstairs WC, utility room, three bedrooms and bathroom. Generous corner plot and parking. PLEASE NOTE: The vendor has advised the property will be cleared for completion of the sale. The property offers a range of exit strategies, including refurbishment and resale, or full redevelopment in line with the granted planning permission to retain the existing house and construct an additional detached building comprising two self-contained flats, creating a potential three-unit investment. Planning ref - FUL/352967/24 The existing dwelling requires renovation following fire damage to the first floor, presenting a clear value-add opportunity for developers and investors. Based on current market conditions, the completed flat units are estimated to achieve around £120,000 upwards each, with strong rental demand supporting values in the region of £900–£1,000 pcm per flat and £1,100–£1,200 pcm for the house. This provides the potential for a combined income in excess of £35,000 per annum, making it a compelling proposition for both resale and long-term investment. Situated within a popular residential location with access to local amenities, schools and excellent transport links into Manchester, the area continues to attract strong buyer and tenant demand. A versatile and high-potential opportunity, ideal for developers, investors or builders looking to maximise returns in a proven location.Here are some similar sold properties taken from Land Registry that highlight the potential:92, Norfolk Crescent, Manchester, M35 0NS £223,000 Semi 3 bed 0.16 mi10, Rings Close, Manchester, M35 0SQ £247,500 Semi 3 beds 0.47 mi58, Norfolk Crescent, Manchester, M35 0NS £250,000 Semi 3 bed 0.23 mi