Investment Consideration:
Gross Initial Yield: 10. 22%
Rental Income: £26, 580 p. a.
VAT is not applicable to this property
Comprises mid - terrace 4 - bed HMO (all rooms ensuite)
Newly converted to a very high standard
Located next to King Street which provides regular bus services to the town
centre and towards Stoke - on - Trent via Queensway.
Property Description:
Mid - terrace house newly converted to a high standard 4 - bed HMO. Ground floor
comprises fully fitted kitchen with dining area and two en - suite rooms (1 and
2). First floor comprises communal lounge with smart TV and two en - suite rooms
(3 and 4). Each room is fully furnished with double bed, orthopedic mattress,
TV, large wardrobe and bathroom. The property also benefits from large
communal garden at rear.
Tenancy:
Room 1 is at present let to on AST to an Individual for a term of 12 Months
from 2nd February 2023 at a current rent of £6, 060 p. a. Deposit held of £505.
Room 2 is at present let to on AST to an Individual for a term of 12 Months
from 4 October 2022 at a current rent of £6, 600 p. a. Deposit held of £550.
Room 3 is at present let to on AST to an Individual for a term of 12 Months
from 11 October 2022 at a current rent of £6, 600 p. a. Deposit held of £550.
Room 4 is at present let to on AST to an Individual for a term of 12 Months
from 11th August 2023 at a current rent of £7, 320 p. a. Deposit held of £610.
Location:
Newcastle - under - Lyme is a market town and the administrative centre of the
Borough of Newcastle - under - Lyme in Staffordshire, England. The town is served
by the M6 motorway to the south and west of Newcastle and by the A500 road to
the north and east. There are access points from the M6 at junctions 15 and
16, to the south and north respectively. The A34 trunk road runs through
Newcastle from north to south and was the main road between Birmingham and
Manchester until the M6 motorway opened. There is a large bus station in the
town centre. The property is located next to King Street which provides
regular bus services to the town centre and towards Stoke - on - Trent via
Queensway.

Property location on the map: Use mouse double click to (Zoom IN: LEFT button; Zoom OUT: RIGHT button)

Similar properties: