Summary - 5-7, OLD STREET OL6 6LA
10 bed 5 bath Residential Development
Central Ashton mixed-use building with immediate income and HMO conversion potential.
Freehold Victorian mixed-use building in town centre
A substantial Victorian mixed-use building in central Ashton-under-Lyne, offered freehold and sold at auction on 27 October 2025. The property currently produces £4,300 pcm from two three-bedroom flats, one four-bedroom flat and a ground-floor shop (shop currently vacant). Off-street parking is included with one rear-space linked to the three-bedroom flat.
The building comprises ten bedrooms and five bathrooms across multiple self-contained units. For an investor the immediate appeal is the existing income stream and town-centre location with excellent transport, local amenities and low crime — factors that sustain rental demand. There is clear potential to increase yield by reconfiguring into a 12-bedroom HMO, subject to planning, licensing and any necessary refurbishment works.
Important negatives are factual: the site sits on a small plot in a very deprived area, the ground-floor retail unit is vacant, and the building will be sold under common auction conditions (no sale guarantees). Conversion to HMO will require planning permission, HMO licensing and likely refurbishment to meet current standards — budget for works and compliance costs accordingly.
This is a hands-on development/investment opportunity best suited to experienced landlords or developers who can manage an occupied, multi-unit town-centre property and deliver upgrades and licensing to unlock higher rental income.
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