REF 619
INVESTMENT
£1,200,000
GROSS YIELD
9.44%
ANNUAL RENT
£113,268
A substantial Freehold four-storey Grade II listed Victorian Townhouse within walking distance
to Southampton City Centre/London Road. The Royal South Hants Hospital is located a few
minutes from the property by foot. Southampton General Hospital, Solent and Southampton
Universities are within close proximity as is Southampton Central Station and M3 links East
and West. The property is HMO Licensed until 2021. The property is located in an
established Residential area.
Comprises of 14 letting rooms (of which 4 are en-suite rooms), three kitchens, one lounge,
two communal bathrooms and two self-contained flats. One room is currently used as an
Office but can easily be used as a Studio as it is the largest room in the property.
Flats 1 & 2 Semi Basement
Both Flats 1 & 2 have their own individual gas supplies and combi boilers for heating/hot
water. Council Tax is billed separately to both Flats 1 & 2 and they also contribute to any
electricity use over £25 per month by way of a credit meter.
Potential
Potential for conversion into a total of 10 self contained flats, subject to planning (two
currently in basement, eight over three floors). Current approval has lapsed. Adequate off
road parking to comply for future planning applications. Various properties in the Terrace
have already been converted into flats. Currently, the property has seven parking spaces with
scope for a further three to the rear.
The property also lends itself into conversion as office suites, being located so close to the
City Centre and possibly Assisted Living Accommodation, subject to the relevant
permissions.
Current use
Currently let to Professionals/Students on ASTs with an annual income of £111912p.a. (based
on all-inclusive rents for the rooms).
Former uses
Previously, the property has been used as a hotel (Berkeley House Hotel) and more recently
as a residential care home.
Condition
The property has been
*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 £1,200,000.
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This property is currently self managed by the current vendor. They would be happy to continue to manage the property for as long as needed for any incoming buyers as the property is so easy to manage.
