House For Sale £620,000
Fantastic investment opportunity producing a gross income of £69,000+ p/a*
3 different investment types including:
* An established commercial tenant on the ground floor
* A Registered HMO with 8 letting rooms
* A self-contained side annex housing a lounge/ kitchen and 2 further bedrooms.
The property has been a registered HMO for some years and the license has been renewed twice so far. Next renewal is due in November 2022.
The property was fully rewired in 2018 with individual consumer units to HMO rooms. It is fitted with all necessary fire and smoke alarms and fire extinguishers necessary to comply with current legislation.
All the bedrooms have independent electric heaters, each with its own consumer unit.
*Current incomes (intended as a reference only)
8 x HMO rooms £43,452 p/a
2 bedroom annex £7,8000 p/a
Commercial premises (appx 53 sq m with two bay windows to the front) £18,150 p/a
Total Gross income £69,402 pa.
Minus landlord costs/outgoings (communal electricity, water, insurance, council tax, repair and maintenance) we are advised the net income is in the region of £60 - £62,000 p/a
nb. These figures are for reference only - for more information about current charges, please contact National Residential.
Buyers fee: 3%
Rates
The commercial premises are shown on the Valuation Office Rating web site as having a rv of £15250. The residential accommodation is current assessed for Council Tax as Class C.
Leases and agreements
The commercial unit is held on an effective fully repairing and insuring lease until 26th May 2026.
The bedrooms as let on Shorthold tenancies several of which are being rolled over on a month to month basis.
The property has been a registered HMO for some years and the license has been renewed twice so far. Next renewal is due in November 2022.
EPC
The commercial property has an EPC rating of D. Assessments are in hand for the residential accommodation.
This property is only available for purchasers who are not in a chain
1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.
*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 1% (minimum of £2,500), which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.
3 different investment types including:
* An established commercial tenant on the ground floor
* A Registered HMO with 8 letting rooms
* A self-contained side annex housing a lounge/ kitchen and 2 further bedrooms.
The property has been a registered HMO for some years and the license has been renewed twice so far. Next renewal is due in November 2022.
The property was fully rewired in 2018 with individual consumer units to HMO rooms. It is fitted with all necessary fire and smoke alarms and fire extinguishers necessary to comply with current legislation.
All the bedrooms have independent electric heaters, each with its own consumer unit.
*Current incomes (intended as a reference only)
8 x HMO rooms £43,452 p/a
2 bedroom annex £7,8000 p/a
Commercial premises (appx 53 sq m with two bay windows to the front) £18,150 p/a
Total Gross income £69,402 pa.
Minus landlord costs/outgoings (communal electricity, water, insurance, council tax, repair and maintenance) we are advised the net income is in the region of £60 - £62,000 p/a
nb. These figures are for reference only - for more information about current charges, please contact National Residential.
Buyers fee: 3%
Rates
The commercial premises are shown on the Valuation Office Rating web site as having a rv of £15250. The residential accommodation is current assessed for Council Tax as Class C.
Leases and agreements
The commercial unit is held on an effective fully repairing and insuring lease until 26th May 2026.
The bedrooms as let on Shorthold tenancies several of which are being rolled over on a month to month basis.
The property has been a registered HMO for some years and the license has been renewed twice so far. Next renewal is due in November 2022.
EPC
The commercial property has an EPC rating of D. Assessments are in hand for the residential accommodation.
This property is only available for purchasers who are not in a chain
1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.
*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 1% (minimum of £2,500), which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.
