Property for sale
Property description & features
- Freehold HMO investment in prominent convenient spot
- Close tram and bus service
- Within walking distance of town centre
- Fully licensed and compliant closely managed
- 4 flats - 19 en suite and 5 studios
- c.95% Occupancy for last 12 months
- c 6.5% net return
- EPC rating D
- Nearly £145k gross income PA fully let
- Scope to further develop / improve
A freehold HMO investment opportunity comprising a substantial detached Victorian property with further additions split into 4 flats with 19 en-suite rooms and five studios. There is associated kitchen / communal space and off-road parking for 6/7 vehicles.
The property is fully compliant and is currently managed by a local managing agent who has competently managed. The property has averaged a 95% occupancy rate and fully let returns a gross income of around £145k PA giving a net yield of around 6.5% PA.
The property is prominently located giving easy access to local services and is adjacent to tram and bus stops.
An excellent opportunity, please enquire for further details.
Viewing strictly by appointment only via sole selling agent, Alexanders of Melton Mowbray[use Contact Agent Button].
General Description - A freehold HMO investment opportunity comprising a substantial detached Victorian property with further additions split into 4 flats with 19 en-suite rooms and five studios. There is associated kitchen / communal space and off-road parking for 6/7 vehicles.
The property is fully compliant and is currently managed by a local managing agent who has competently managed. The property has averaged a 95% occupancy rate and fully let returns a gross income of around £145k PA giving a net yield of around 6.5% PA.
The property is prominently located giving easy access to local services and is adjacent to tram and bus stops.
An excellent opportunity, please enquire for further details.
Viewings - Viewing strictly by appointment only via sole selling agent, Alexanders of Melton Mowbray[use Contact Agent Button].
Measurements - Every care has been taken to reflect the true dimensions of this property but they should be treated as approximate and for general guidance only.
Tenure - Freehold.
Money Laundering - Where an offer is successfully put forward, we are obliged by law to ask the prospective purchaser for confirmation of their identity. This will include production of their passport or driving licence and recent utility bill to prove residence. Prospective purchasers will also be required to have an AML search conducted at their cost. This evidence and search will be required prior to solicitors being instructed.
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Property reference 32865838. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Alexanders - Melton Mowbray.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 12, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 12, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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