House For Sale £395,000
A fully licensed HMO with established trading history, providing A superb investment opportunity close to the sea. Three storeys, five bedrooms plus loft room, west facing gardens, licensed for seven people and can be sold fully fitted and equipped.
Location: Edgcumbe Avenue is a superb, convenient town centre location within very close proximity to sought after beaches, popular parks, and the main town itself yet slightly away from the hustle and bustle.
A short walk to the top of the road is where you will find Newquay’s gorgeous seafront with the highly popular Tolcarne beach within easy reach on foot in only a matter of minutes. Tolcarne beach is definitely one of Newquay’s most popular, a gorgeous, sheltered cove with crystal clear bathing waters that are safe for families with seasonal lifeguard cover and a quality range of beach side amenities including a highly regarded fine dining restaurant. What a pleasure it is to have such a beauty right on your doorstep.
As well as this the town centre can be reached on foot within a short walk into the main high street where there is a variety of amenities from trendy independents to national chain outlets. Trenance Park is also available within a short walk and as such all of Newquay can be explored with ease from this property making this an ideal place to live, rent or holiday and as a HMO investment this is a perfect location to easily attract tenants.
Summary: This quality three storey period townhouse for many years has operated as a successful licensed HMO with proven consistent income, producing a good steady yield in a desirable location that is perfect for attracting tenants. The property has five bedrooms as well as a loft room with ensuite as well as two further bathrooms, a resident’s living room a fantastic 31ft kitchen/diner and west facing courtyard gardens.
The HMO license allows for seven people. For the vendors this investment has proven to be an easy going, chilled household with like minded tenants where many have become firm friends through their many years of occupancy and as such this has been a low impact and highly profitable investment property.
Principally the property has an entrance vestibule leading into hallway with stairs to the first floor.
The front aspect bay windowed living room is flooded with light, has oak flooring and an open fireplace.
On the ground floor behind the living room there is a double sized bedroom and separately beyond this to the rear is the kitchen/diner. A fantastic communal space that measures over 31ft in length with a well equipped modern kitchen perfectly balanced for the number of tenants in residence. There is also ample room for a large dining suite and back door leading out to the courtyard gardens.
On the first floor there are a further four bedrooms which includes three double and one single. Additionally, there are two bathrooms consisting of a bath with WC and a shower with WC on this level.
From the first floor landing stairs rise to the second floor where there is a large ensuite loft room. As you approach the second floor landing there is slightly restricted head height owing to the hip of the roof but the room itself is a large open space and a great additional area.
Outside to the rear there are lovely sunny courtyard style gardens with an Oltco style resin bound low maintenance surface, plenty of room of communal seating and a good size summer house towards the end with gated access out onto the rear service lane.
Throughout the property there us UPVC double glazing and gas fired central heating.
The landlord currently charges rents ranging from £430 per calendar month for the small single all the way up to £500 per calendar month for the largest double rooms. The medium sized rooms are rented at £460 per calendar month and generally speaking this property generates circa £24,000 per annum turnover with perhaps potential to further enhance this yield with periodic rent increases, but as it currently stands it creates a healthy and respectable yield of approximately 6.4%.
The vendor advises there is historic planning permission under application number PA15/00546 to create a dormer extension on the second floor for four ensuite bedrooms.
Sold as a going concern with transferable tenancies and no ongoing chain.
Agent's notes: Preliminary property details, awaiting Vendor verification.
What we love: HMO's are in demand, easy to fill and potentially very high yield investments. This one is fantastic, well established and in a great location.
All Measurements Are Approximate
Vestibule
Hallway (14' 8'' x 3' 4'' (4.47m x 1.02m))
Living Room (16' 8'' x 12' 10'' (5.08m x 3.91m) Maximum into Bay)
Ground Floor Bedroom One (11' 5'' x 10' 0'' (3.48m x 3.05m))
Kitchen/Diner (31' 4'' x 10' 2'' (9.54m x 3.10m))
First Floor Landing (25' 7'' x 6' 0'' (7.79m x 1.83m) Maximum)
Bedroom Two (10' 6'' x 10' 3'' (3.20m x 3.12m) Maximum)
Main Bathroom/WC (7' 6'' x 6' 4'' (2.28m x 1.93m))
Secondary Shower Suite With WC
Bedroom Three (12' 3'' x 10' 4'' (3.73m x 3.15m))
Bedroom Four (15' 7'' x 8' 8'' (4.75m x 2.64m))
Bedroom Five (9' 2'' x 7' 10'' (2.79m x 2.39m))
Second Floor Loft Room With Ensuite (18' 3'' x 15' 5'' (5.56m x 4.70m) Maximum Including Ensuite)
Council Tax Band: C
Location: Edgcumbe Avenue is a superb, convenient town centre location within very close proximity to sought after beaches, popular parks, and the main town itself yet slightly away from the hustle and bustle.
A short walk to the top of the road is where you will find Newquay’s gorgeous seafront with the highly popular Tolcarne beach within easy reach on foot in only a matter of minutes. Tolcarne beach is definitely one of Newquay’s most popular, a gorgeous, sheltered cove with crystal clear bathing waters that are safe for families with seasonal lifeguard cover and a quality range of beach side amenities including a highly regarded fine dining restaurant. What a pleasure it is to have such a beauty right on your doorstep.
As well as this the town centre can be reached on foot within a short walk into the main high street where there is a variety of amenities from trendy independents to national chain outlets. Trenance Park is also available within a short walk and as such all of Newquay can be explored with ease from this property making this an ideal place to live, rent or holiday and as a HMO investment this is a perfect location to easily attract tenants.
Summary: This quality three storey period townhouse for many years has operated as a successful licensed HMO with proven consistent income, producing a good steady yield in a desirable location that is perfect for attracting tenants. The property has five bedrooms as well as a loft room with ensuite as well as two further bathrooms, a resident’s living room a fantastic 31ft kitchen/diner and west facing courtyard gardens.
The HMO license allows for seven people. For the vendors this investment has proven to be an easy going, chilled household with like minded tenants where many have become firm friends through their many years of occupancy and as such this has been a low impact and highly profitable investment property.
Principally the property has an entrance vestibule leading into hallway with stairs to the first floor.
The front aspect bay windowed living room is flooded with light, has oak flooring and an open fireplace.
On the ground floor behind the living room there is a double sized bedroom and separately beyond this to the rear is the kitchen/diner. A fantastic communal space that measures over 31ft in length with a well equipped modern kitchen perfectly balanced for the number of tenants in residence. There is also ample room for a large dining suite and back door leading out to the courtyard gardens.
On the first floor there are a further four bedrooms which includes three double and one single. Additionally, there are two bathrooms consisting of a bath with WC and a shower with WC on this level.
From the first floor landing stairs rise to the second floor where there is a large ensuite loft room. As you approach the second floor landing there is slightly restricted head height owing to the hip of the roof but the room itself is a large open space and a great additional area.
Outside to the rear there are lovely sunny courtyard style gardens with an Oltco style resin bound low maintenance surface, plenty of room of communal seating and a good size summer house towards the end with gated access out onto the rear service lane.
Throughout the property there us UPVC double glazing and gas fired central heating.
The landlord currently charges rents ranging from £430 per calendar month for the small single all the way up to £500 per calendar month for the largest double rooms. The medium sized rooms are rented at £460 per calendar month and generally speaking this property generates circa £24,000 per annum turnover with perhaps potential to further enhance this yield with periodic rent increases, but as it currently stands it creates a healthy and respectable yield of approximately 6.4%.
The vendor advises there is historic planning permission under application number PA15/00546 to create a dormer extension on the second floor for four ensuite bedrooms.
Sold as a going concern with transferable tenancies and no ongoing chain.
Agent's notes: Preliminary property details, awaiting Vendor verification.
What we love: HMO's are in demand, easy to fill and potentially very high yield investments. This one is fantastic, well established and in a great location.
All Measurements Are Approximate
Vestibule
Hallway (14' 8'' x 3' 4'' (4.47m x 1.02m))
Living Room (16' 8'' x 12' 10'' (5.08m x 3.91m) Maximum into Bay)
Ground Floor Bedroom One (11' 5'' x 10' 0'' (3.48m x 3.05m))
Kitchen/Diner (31' 4'' x 10' 2'' (9.54m x 3.10m))
First Floor Landing (25' 7'' x 6' 0'' (7.79m x 1.83m) Maximum)
Bedroom Two (10' 6'' x 10' 3'' (3.20m x 3.12m) Maximum)
Main Bathroom/WC (7' 6'' x 6' 4'' (2.28m x 1.93m))
Secondary Shower Suite With WC
Bedroom Three (12' 3'' x 10' 4'' (3.73m x 3.15m))
Bedroom Four (15' 7'' x 8' 8'' (4.75m x 2.64m))
Bedroom Five (9' 2'' x 7' 10'' (2.79m x 2.39m))
Second Floor Loft Room With Ensuite (18' 3'' x 15' 5'' (5.56m x 4.70m) Maximum Including Ensuite)
Council Tax Band: C
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