* Freehold
* Development potential
* 7 units
* Planning permission granted for 6 x 1 bedroom flats
* 4 x parking spaces
* Current income of £28, 440 (1 vacant unit) potential income £35k +
* Nb - some subsidence is currently present which will require attention
Development potential - Heritage Sales and Lettings are pleased to be able to
offer for sale this freehold semi detached HMO currently arranged into seven
units (4 x 1 beds and 3 x bedsits with shared shower). This property, set over
three floors receives an income of £28, 440 per annum ( 1 x 1 bed flat is
currently vacant) Income capabilities of in excess of £35k per annum creating
a 7% return as is with 4 x parking spaces occupying the front drive.
Planning permission has just been granted for extending and converting to 6 x
1 bedroom flats, bcp planning application number B with a re - sale value of
approx £900k - £960k.
Rental values after conversion are approximately £50 - £54k per annum creating
an 8%+ return.
Flat 1 - 1 bed - £400 pcm
Flat 2 - 1 bed - £595 pcm
Flat 3 - Bedsit with kitchenette and shared shower - £325 pcm
Flat 4 - Bedsit with kitchenette and shared shower - £325 pcm
Flat 5 - Bedsit with kitchenette and shared shower - £325 pcm
Flat 6 - 1 bed - £400 pcm
Flat 7 - 1 bed - Vacant
nb this property currently has some subsidence which will require some
attention. EPC ratings vary between D and E

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