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Incredible 6 Bed Pro HMO & Commercial Unit

Telford, TF1

Asking price
£TBC
Gross yield
TBC
Bedrooms
7
Bathrooms
6
Occupants
6

Overview

InvestmentTBC
Gross£61.4K/11.2%
Net£51.0K/9.3%
RegionWest Mids
TenantProfessional
SPV HeldN/A
ManagementLocal Agent
TenancyMulti Tenancy (AST)
LicenseYes
Bedrooms7
Bathrooms6
Occupants6

Description

This property at Market Square, Wellington, Telford, TF1, presents a fully let investment opportunity featuring six ensuite double rooms and a commercial unit. The property is generating a gross monthly rent of £5,116, equating to an annual rent of £61,392. Net income after bills is £4,193 per month, reducing to £3,476.76 after management fees. The gross rental yield is 12.28%, with a net yield of 10.06% after bills and 8.34% after management costs.

The property operates under an HMO license, accommodating six tenants with multi-tenancy agreements (AST) and is self-managed, with a 14% management fee applied.

This HMO property is a Grade II listed, freehold building constructed with brick and tile. It spans three storeys, comprising six double ensuite bedrooms and a commercial space on the ground floor. The property has been recently refurbished to a good standard, with full double glazing and modern amenities such as wireless broadband. Tenants have access to a shared kitchen and dining area. While there is no garden or parking available, the property is fully compliant with HMO licensing requirements, including fire safety measures. The commercial unit adds an extra income stream, producing £1,062 monthly. The building features underfloor heating powered by an air source heat pump, making it energy-efficient despite its commercial energy rates.

Situated in Wellington, Telford, this property benefits from a central location in a thriving market square. Wellington offers strong transport links, with easy access to the M54 motorway and regular train services from Wellington station, making it a popular area for commuting professionals. The local area is home to a variety of shops, cafes, and essential services, contributing to high rental demand and ensuring strong occupancy rates. The property's proximity to local amenities enhances its appeal to tenants and supports the potential for capital growth.

Highlights

Transport Links
Wireless Broadband
Shared Kitchen
Dining Area
Double Glazing
Fire Safety

Financials

MonthlyAnnual
Gross Rent£5,116£61,392
Utilities£150£1,800
Management£716£8,595
Net Rent£4,250£50,997

Mortgage

Estimate mortgage costs with a few assumptions (LTV, rate, term). Rates and LTV vary by lender.

Payment
Rate
70%
5.5%
25y
Loan
£385,000
Deposit
£165,000
Monthly Payment
£2,364
Repayment
Est. Rent / mo
£5,116

This is for illustrative purposes only. Always obtain professional & qualified advice for HMO mortgages. For more information on HMO mortgages click here.

Property

Property Type
House
Sub Type
Other
Tenure
Freehold
Construction
Brick & Tile
Condition
Good
Heating
Other
Double Glazing
Full
No Storeys
3
Garage
None
Garden
None
Parking
None
No Parking spaces
0
Listed Building
Yes
Current EPC Rating
67D
Potential EPC Rating
67D
Sq Ft
1,980 Sq Ft

Management

HMO Management Type
Local Agent
Monthly Management
£716
Management Rate
14%

Management Notes

HMO Management for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Management click here.

Rentals

Tenant type
Professional
Tenancy Type
Multi Tenancy (AST)
12 Month Occupancy
100
Occupancy
Fully Let
No of Units
7
No of Occupants
6
TypeOcc.StatusAmount
1. Double Room / Ensuite—Let£685
2. Double Room / Ensuite—Let£648
3. Double Room / Ensuite—Let£651
4. Double Room / Ensuite—Let£700
5. Double Room / Ensuite—Let£700
6. Double Room / Ensuite—Let£670
7. Commercial—Let£1,062
Total—£5,116

Operating Costs

Gas
N/A
Water
N/A
Wifi
N/A
Electric
N/A
Cleaner
£100
TV license
N/A
Insurance
£50
Council Tax
N/A
Total£150

HMO Utilities for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Utilities click here.

HMO Licensing

HMO License Required
Yes
HMO License Type
Mandatory
HMO License in Place
Yes
HMO License Expiry
2024-05-12
HMO Licensing Cost
£1300
No of Persons
6
Units of Accommodation
6
Authority
Telford and Wrekin Council
Planning Use Class
C3

Floorplans

floorplan-16
Representative image
floorplan-17
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Telford, TF1

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