For Sale – 19 Bedroom Commercial Freehold Properties – HMO (House in Multiple Occupation) –– 3 x 5-Bedroom Houses and 1 x 4-Bedroom House
Pemberton, Wigan
Total 19 Bedroom Properties For for Sale, operated as a 16 bed HMO (House in multiple Occupation), being sold as a going concern with sitting tenants. Consists of four excellent, high specification terraced houses, built in 2019 to a high standard for it’s current purpose as a HMO. They have since been maintained and managed to a high standard.
(Note: 3 of the 19 bedrooms are ‘box’ rooms, which do not meet the current requirement to be rented on a HMO bedroom-basis, and so as a HMO there are 16 rentable rooms + 3 empty bedrooms, which could be used as storage, office space, staff/extra living space, etc.)
3 x 5-bedroom house and 1 x 4-bedroom house. (the 5-bedroom houses are, as mentioned above, only suitable to be 4 bed HMO’s due to the box room not meeting the regulation for minimum rentable size)
• Guide price: £1,000,000.
• Total current rental income: £105,900 per annum / £8825 per month. Note – there has been no increase in rent for over 12 months and so a modest increase could increase the yield further.
• Yield: 10.6% (based on a purchase price of £1,000,000)
• Total rent charged per room: between £450 and £825.
All 16 rooms tenanted on transferrable AST arrangements contracts with professional working tenants, it is currently operated as a hands-off investment, managed by a letting agent. The rooms are always in high demand and there have never been problems with void periods.
On the ground floor of each property contains a fully fitted studio flat, with their own, separate entrance, kitchenette and bathroom. These studio flats are able to cater for occupants with mobility problems / disabilities. The 4 x ground floor studio apartments could also / alternatively be used as class B1 Business premises, and are already licensed for such use. They each have alternative entrances that could be used independently of the main house doors and gates.
6 8 of the rooms feature en-suite facilities. 4 of the (1st floor) rooms have their own balcony. Each property contains a modern, shared kitchen, bathrooms and utility/laundry room.
Excellent fixtures and fittings throughout, well managed and maintained, a real turn-key investment opportunity offering a new owner a great return on investment.
Outside the property are 4 garages / lock ups used for storage.
The property would be an ideal location and format for a supported living provider contract to be implemented due to the disabled access / rooms, and the additional unused rooms that could be used as office / storage spaces.
EPC Rating B
Ideally located – excellent transport links with a good network of motorways only a few short minutes away (M6, M58, M57, M61, M62, M65). Also conveniently located to a vast array of local shops, bars, cafés and restaurants, all within 2 minutes walking distance of the properties.
For further details or to arrange a viewing, please enquire now via this advert or contact Vincent Stevenson at Business Monkey.