House For Sale £180,000
5 Bedroom HMO in Brierley Hill | Fully Licensed | Long Term serco Lease until 2029 | Fully Renovated | £1,300pcm | £15,600 pa | 8.6% Yield | No Voids | No Maintenance | No Utility Bills To Pay | Great Location | Fully Compliant with Local Authority Amenity Standards
Introduction
Fully Licensed five bedroom HMO for sale in DY5 with long term, government backed lease in place.
A well presented, large, terraced property in Brierley Hill, Dudley that has been fully converted to a 5 bedroom HMO. Ideally situated in a popular residential area with fantastic access to local amenities, schools and main commuter routes.
Undergoing a full renovation before rental, this property has been finished to a very high standard. Although it is being advertised with only an exterior shot, Genie Homes is in receipt of a full condition report with photos and a video filmed post refurbishment that are all available on request. Extensively refurbished, the property has been converted from C3 to C4 planning use and includes 5 bedrooms, one of which has an en suite, as well as a modern kitchen and separate lounge area,
A short list of refurbishment includes...
- New flooring
- Newly decorated
- Freshly plastered where needed
- Grade A panel Alarm system with call points
- Brand New Kitchen
- Brand New Bathroom
- New En suite for the largest bedroom
- Garden cleared and low maintenance
- 6 Panel FD30 Fire Doors Throughout
- New skirting and architraves throughout
A brilliant opportunity to purchase an up and running property on a long term social housing lease (serco), which began on 09/02/22 and runs for 6 years and 11 months.
The standard of refurbishment is high and the property meets all HMO regulations and amenity standards. HMO License, eicr, Gas Safety and Fire Safety Certificate all up to date.
There is a maximum of 5 tenants living in the property at any given time.
As per the self repairing lease in place, the tenant (serco) is responsible for all utilities, council tax and ongoing superficial maintenance and rent is paid each month meaning no void periods to contend with. The rent is up to date with no arrears.
Whitegoods and furniture are all included in the sale.
Monthly Rent - £1,300
Annual Gross Rent - £15,600
Yield - 8.6% at full asking price
please note: A 2% plus VAT buyer's fee applies to this sale.
Viewings will be very limited to serious buyers for this property as they will need to be carried out with the housing provider present. There will not be much flexibility or opportunity to do so, so viewings will be held in small blocks. We will need to see proof of funds and id prior to viewing. You will also need an agreement in principle that covers social housing if you are looking to lend against the purchase. Please make sure that you are able to proceed, speak with a broker if necessary before enquiring.
We appreciate that the criteria for viewing is strict, but it is necessary in this case due to the nature of the investment.
Disclaimer
These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Furthermore, Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Photographs are reproduced general information and it must not be inferred that any item is included for sale with the property.
Tenure
Freehold
Possession
Tenanted
Viewing
Viewing strictly by appointment through Genie Homes
Introduction
Fully Licensed five bedroom HMO for sale in DY5 with long term, government backed lease in place.
A well presented, large, terraced property in Brierley Hill, Dudley that has been fully converted to a 5 bedroom HMO. Ideally situated in a popular residential area with fantastic access to local amenities, schools and main commuter routes.
Undergoing a full renovation before rental, this property has been finished to a very high standard. Although it is being advertised with only an exterior shot, Genie Homes is in receipt of a full condition report with photos and a video filmed post refurbishment that are all available on request. Extensively refurbished, the property has been converted from C3 to C4 planning use and includes 5 bedrooms, one of which has an en suite, as well as a modern kitchen and separate lounge area,
A short list of refurbishment includes...
- New flooring
- Newly decorated
- Freshly plastered where needed
- Grade A panel Alarm system with call points
- Brand New Kitchen
- Brand New Bathroom
- New En suite for the largest bedroom
- Garden cleared and low maintenance
- 6 Panel FD30 Fire Doors Throughout
- New skirting and architraves throughout
A brilliant opportunity to purchase an up and running property on a long term social housing lease (serco), which began on 09/02/22 and runs for 6 years and 11 months.
The standard of refurbishment is high and the property meets all HMO regulations and amenity standards. HMO License, eicr, Gas Safety and Fire Safety Certificate all up to date.
There is a maximum of 5 tenants living in the property at any given time.
As per the self repairing lease in place, the tenant (serco) is responsible for all utilities, council tax and ongoing superficial maintenance and rent is paid each month meaning no void periods to contend with. The rent is up to date with no arrears.
Whitegoods and furniture are all included in the sale.
Monthly Rent - £1,300
Annual Gross Rent - £15,600
Yield - 8.6% at full asking price
please note: A 2% plus VAT buyer's fee applies to this sale.
Viewings will be very limited to serious buyers for this property as they will need to be carried out with the housing provider present. There will not be much flexibility or opportunity to do so, so viewings will be held in small blocks. We will need to see proof of funds and id prior to viewing. You will also need an agreement in principle that covers social housing if you are looking to lend against the purchase. Please make sure that you are able to proceed, speak with a broker if necessary before enquiring.
We appreciate that the criteria for viewing is strict, but it is necessary in this case due to the nature of the investment.
Disclaimer
These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Furthermore, Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Photographs are reproduced general information and it must not be inferred that any item is included for sale with the property.
Tenure
Freehold
Possession
Tenanted
Viewing
Viewing strictly by appointment through Genie Homes
