Licensed 5 bedroom HMO. Investment opportunity for experienced or first time Landlords, providing consistent and reliable return on investment, with opportunities to further improve yield if desired.
Boasting a fantastic open plan living/kitchen room with a breakfast bar, this property has consistently let to student sharers and represents a sound property asset. The house holds continued use as a category 4 dwelling, under the article 4 directive, and has a full national HMO license.
In its current iteration, the house continues to perform well in the student rental market. There is a current joint AST In place until August 2023. This tenancy returns an annual rental of £29,276. A subsequent tenancy is also agreed with contracts signed for the 2023-24 academic year. Meaning the property provides guaranteed and immediate return on investment until Aug 2024. This new tenancy has been agreed at £2,557 pcm / £30,684 gross rental, proving and exceptionally healthy 7.3& gross yield on purchase.
This return is also expected to improve year on year, in line with the growing demand and rental values for HMO properties in the city,
Designed and arranged to be robust and fit for purpose for years more to come, the house is ideal for a hands-off investor seeking a consistent and reliable income. However, in the ever improving HMO rental market, for those seeking the opportunity to improve both capital and rental value, there are various options available with investment, to further improve returns.
