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House For Sale £950,000
Sedgmoor Place, London SE5


Description
Offered for sale is this freehold, three storey, five bedsit, HMO in Camberwell, SE5.

The ground floor, garden bedsit room is currently yielding £1,400 per month. The remaining four rooms spread across the next two floors are currently rented out for £950, £950, £1,150 and £1,150 per month - bringing the total rent to £5,600 per month. At the listed price, this gives an annual yield of 7.1% which we believe to be very high for London.

There is also the potential for moderate rent increases too, as the vendor has yet to increase the rent in three of the rooms due the pandemic.

The property is currently held within a limited company and the vendor is open to being flexible regarding the sale of either the house or the company. Accurate, up-to-date figures regarding the balance sheet and accounts of the company can be provided upon request.

Buying the company as opposed to the house will almost certainly work out significantly cheaper for the buyer due to the savings in stamp duty, <£1k. Vs approx £67k. The company also has net losses brought forward due to the refurbishment costs that took place almost two years ago. A company sale is likely to be more complicated, but the vendor is open to discussion, if that is the route a potential buyer would want to explore.

The house is ideally suited to remain as a five bedsit HMO with the potential to extend in to the rear garden, as other neighbours have done. Each room is fully furnished and they all have their own private, lockable bathrooms. Each room also has a kitchenette within it, as well as new smart tvs and individual routers. The house has two separate internet connections coming in which are combined for redundancy and then split to each room giving a stable connection - perfect for tenants who need to work from home. Electric sub-meters have also been wired to each room to make regular billing easy.

The house is located within a high demand area for these sort of bedsit rooms, making them especially easy to rent out to young professionals and also staff from the nearby King's College Hospital.

Follow the link for more information:
        
zoopla.co.uk

  
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