Super 8 Bed Pro HMO
Newbold Back Lane, Chesterfield, S40
REF 4272
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INVESTMENT
£625,000
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GROSS YIELD
9.37%
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ANNUAL RENT
£58,536
Coming Soon
REF 4272
INVESTMENT
£625,000
GROSS YIELD
9.37%
ANNUAL RENT
£58,536
We are thrilled to present this multi-unit investment opportunity in Chesterfield! Consisting of a popular corner shop, a care home / supported accommodation HMO facility for care leavers, and a 1 bedroom apartment used to provide supported accommodation for ages 18+. Thoughtfully designed with meticulous attention to detail, together with a combined income of £58,540 per annum, this property is a great prospect for the astute investor.
The corner shop occupies the ground floor (No. 2), with a commercial lease in place until May 2035. The care home / HMO is located on the first and second floors, consisting of 6 en-suite bedrooms, an office, guest WC, a good sized kitchen/diner with a separate utility, and has a useful store on the ground floor. Additionally, there is ground floor access to the 1 bedroom studio apartment (No. 6 – annex to No. 4). There is a lease agreement over both residential units, with the income set to rise after the next review in February 2024.
Chesterfield town centre is accessible via public transport within 20 minutes, car in less than 10 minutes, or by foot in 30 minutes, where many amenities and eateries can be found. Chesterfield Train Station also provides links to further afield towns and cities, the closest city being Sheffield (under 15 minute train journey).
Income;
£58,540 PA
Corner Shop Lease – £9,100 PA (+VAT)
Residential Lease – £49,440 PA (zero-rated), rising to £52, 296 PA in Feb 2024
Expenditure;
Lease holders cover bills and management.
*Based on 75% LTV 2.5% APR. Note. Always speak to a qualified HMO mortgage broker for an accurate quote. These rates are an example of the potential % APR rates only. Visit theHMOmortgagebroker.co.uk to find out the latest HMO mortgage rates.
The fee charged to the buyer in addition to the purchase price.
The deposit amount to secure the HMO opportunity. This is fully refundable in accordance with the terms & conditions (see FAQs) and is deducted from the purchasre price upon completion. In the case of this property, the reservation deposit is -- then the balance due on completion is £625,000.
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