A self-contained first floor flat, which is currently being operated as a fully licenced House in Multiple Occupation (HMO).
The first floor measures circa 1,000 sqft in total, and is arranged as 6 bedrooms, 2 bathrooms and a large kitchen. The property is in good condition throughout, sits above a convenience store (retailer on the ground floor), and is accessed from the front of building.
At present 4 of the 6 rooms are let, and produce a total rent of £24,672 pa (which is equal to £514 per room per calendar month). All rooms being let at this rate would make the total income £37,000 pa, however, these rents are below the market value, and as such we believe the Estimated Rental Value is £46,800 pa (£650 per room pcm).
The property can be bought subject to the 4 existing tenancies, or with Vacant Possession being provided by completion.
Please get in touch if you wish to be provided with the details of the lapsed consent.
Planning History
The property benefits from a lapsed planning consent for the conversion into two self-contained 2 bedroom flats. The property was originally arranged as two separate flats anyway, but has since been amalgamated to form the current single larger HMO. Please get in touch if you wish to be provided with the details of the lapsed consent.
