This nine-bedroom professional HMO property at Springfield Street in Wigan presents a strong investment opportunity. It is fully let, generating a monthly rental income of £4,770, which amounts to £57,240 annually, with a gross yield of 12.05%. After expenses, the net monthly income is £3,274.50, reflecting a net yield between 8.27% and 10.08%. The property is self-managed, with a management fee of 15%, and includes monthly operating costs of £780 for utilities, council tax, and insurance. The property is fully HMO licensed, ensuring compliance with local regulations and long-term tenant demand.
The end-of-terrace house is spread across four storeys and offers nine ensuite double rooms, each equipped with a kitchenette, making it highly appealing to professional tenants. The communal areas feature a shared kitchen and dining space, with additional amenities such as a communal laundry room and WiFi. The property also includes full double glazing and gas central heating. Although it lacks a garden, garage, or off-road parking, its accessibility features and modern conveniences make it an attractive rental option. The property’s solid construction and good condition add further value, ensuring it remains low-maintenance for the foreseeable future.
Wigan is a growing area with strong rental demand, and Springfield Street benefits from excellent transport links and proximity to local amenities, enhancing its long-term investment appeal. The property’s strategic location and its appeal to professionals guarantee continued high occupancy rates, making it a reliable and secure investment for property buyers looking for stable returns in the North West region.
*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 £475,000.
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