Brilliant 11 Bed Working Professional HMO

Park Street, Worksop, S80

REF 623

  • INVESTMENT

    £450,000

  • GROSS YIELD

    12.87%

  • ANNUAL RENT

    £57,936

AgentHMO default property
Sold
  • INVESTMENT

    £450,000

  • GROSS YIELD

    12.87%

  • ANNUAL RENT

    £57,936

  • REF

    623

DESCRIPTION

An excellent fully let 11 bedroom HMO in the centre of worksop.

This former guest house makes the perfect HMO with large ensuite rooms, and plenty of parking.

This HMO property provides investors with excellent cashflow from day 1

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Features

  • Fully Tenanted
  • Great Location
  • Strong Rental Demand
  • Capital Growth Potential
  • Good Transport Links
  • Wireless Broadband
  • Shared Kitchen Dining Area
  • HMO Compliant Fire Alarm
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FINANCIALS

  • Investment £450,000
  • Gross Annual Rent £57,936
  • Gross Monthly Rent £4,828
  • Gross Yield 12.87%
  • Net Monthly Rent £4,002
  • Net Yield 10.67%
  • Min 25% Deposit Requirement £112,500
  • Monthly Mortgage Payment* £1,406
  • Monthly Cashflow £2,596

*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.

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Fees

  • Buyers Fee £0

The fee charged to the buyer in addition to the purchase price.

  • Reservation Deposit --

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 £450,000.

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Property

  • Property Type House
  • Double Glazing Full
  • Sub Type Semi-Detached
  • Garage None
  • Tenure Freehold
  • Garden None
  • Construction Brick & Tile
  • Parking Off-Road
  • Condition Average
  • No Parking Spaces 6
  • Heating Gas Central Heating
  • EPC Rating 54E
  • Size
  • Listed Building
  • Kitchens 1
  • Single Ensuite 2
  • Kitchenettes 6
  • Reception Rooms 1
  • Double Ensuite 9
  • Ensuite Bathrooms 11
  • Property Type House
  • Double Glazing Full
  • Sub Type Semi-Detached
  • Garage None
  • Tenure Freehold
  • Garden None
  • Construction Brick & Tile
  • Parking Off-Road
  • Condition Average
  • No Parking Spaces 6
  • Heating Gas Central Heating
  • EPC Rating 54E
  • Size
  • Listed Building
  • Kitchens 1
  • Single Ensuite 2
  • Kitchenettes 6
  • Reception Rooms 1
  • Double Ensuite 9
  • Ensuite Bathrooms 11
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Photos

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VIRTUAL TOUR

Use the most immersive way to experience a property online. Take a virtual tour.

Use the most immersive way to experience a property online. Take a virtual tour.

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Rental

  • Tenant Type
  • Professional
  • 12 Month Occupancy
  • Occupancy
  • Fully Let
  • Tenancy Type
  • Multi Tenancy (AST)
  • No. of Tenants
  • 11
  • Tenant Type
  • Professional
  • Occupancy
  • Fully Let
  • 12 Month Occupancy
  • Tenancy Type
  • Multi Tenancy (AST)
  • No. of Tenants
  • 11
  • Unit 1
  • £326
  • Let
  • Single Room / Ensuite
  • Unit 2
  • £391
  • Let
  • Double Room / Ensuite
  • Unit 3
  • £544
  • Let
  • Double Room / Ensuite
  • Unit 4
  • £587
  • Let
  • Double Room / Ensuite
  • Unit 5
  • £544
  • Let
  • Double Room / Ensuite
  • Unit 6
  • £370
  • Let
  • Double Room / Ensuite
  • Unit 7
  • £435
  • Let
  • Double Room / Ensuite
  • Unit 8
  • £348
  • Let
  • Single Room / Ensuite
  • Unit 9
  • £348
  • Let
  • Double Room / Ensuite
  • Unit 10
  • £391
  • Let
  • Double Room / Ensuite
  • Unit 11
  • £544
  • Let
  • Double Room / Ensuite
  • Total £4828
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Costs

  • Gas £216
  • Water £100
  • Wifi £37
  • Electric £200
  • Cleaner
  • TV Licence £10
  • Insurance £57
  • Council Tax £206
  • Gas £216
  • Water £100
  • Wifi £37
  • Electric £200
  • Cleaner
  • TV Licence £10
  • Insurance £57
  • Council Tax £206
  • Total £826
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LICENSING

  • HMO License Required Yes
  • HMO License Expiry 2022-03-16
  • HMO License in Place Yes
  • No of Persons 19
  • HMO Licensing Cost £1000
  • Units of Accomodation 11
  • Licensing Authority BassetLaw District Council
  • Planning Use Class Sui Generis
  • HMO License Required Yes
  • HMO License Expiry 2022-03-16
  • HMO License in Place Yes
  • No of Persons 19
  • HMO Licensing Cost £1000
  • Units of Accomodation 11
  • Licensing Authority BassetLaw District Council
  • Planning Use Class Sui Generis
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Management

  • Type Local Agent
  • Management Rate 10%
  • Monthly Management £483

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FLOOR PLAN

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LOCATION

Park Street, Worksop, S80 1HW, United Kingdom

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BROCHURE

Download the investment brochure
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