An imposing Victorian semi-detached house arranged as a licensed 8-bedroom HMO. The property is fully-let for the 2024/2025 academic year producing An imposing Victorian semi-detached house arranged as a licensed 8-bedroom HMO.
The property is fully-let for the 2024/2025 academic year producing £70,680 per annum excluding bills and presents a high yielding investment opportunity for HMO landlords. A licence for 10 bedrooms has recently been granted subject to some internal alterations, which could increase the rental income to a figure in the region of £86,700 per annum. Externally, there is a low-maintenance garden to the rear.
DESCRIPTION -
An imposing Victorian semi-detached house arranged as a licensed 8-bedroom HMO. The property is fully-let for the 2024/2025 academic year producing An imposing Victorian semi-detached house arranged as a licensed 8-bedroom HMO.
The property is fully-let for the 2024/2025 academic year producing £70,680 per annum excluding bills and presents a high yielding investment opportunity for HMO landlords. A licence for 10 bedrooms has recently been granted subject to some internal alterations, which could increase the rental income to a figure in the region of £86,700 per annum. Externally, there is a low-maintenance garden to the rear.
LOCATION -
The property is situated in a highly sought-after residential location in St Andrews, popular with both students and professional tenants. Easy access is provided to St Andrews Park and a wide range of local amenities on Gloucester Road.
ACCOMMODATION -
The ground floor comprises a communal living room, two double bedrooms, a kitchen, utility room and shower room. There are four further double bedrooms on the first floor along with a bathroom and the top floor provides two bedrooms, a shower room and study.
TENANCY DETAILS -
The property is fully-let for the current academic year (2024/2025) on an Assured Shorthold Tenancy agreement producing £70,680 per annum excluding bills (£750 pcm per room x 6 / £695 pcm per room x 2).
TENURE -
The property is to be sold on a freehold basis, subject to the above tenancy.
HMO LICENSING & PLANNING -
An HMO licence for 8 households/persons was granted on 24/08/2021.
A licence to increase the number of households/persons to 10 was also granted on 01/10/2024.
HMO licensing regulations and planning requirements are subject to regular changes, updates and even individual interpretations by the Local Authority. Prospective buyers are therefore required to make their own enquiries with the Local Authority and review the documents contained in the auction legal pack fully to satisfy themselves that the property is compliant in this respect. Maggs & Allen accept no liability in the event that any Licensing or Planning requirements/documents are not in order at the point of sale.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: E
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
VIEWINGS -
Strictly by appointment with Maggs & Allen - 0117 973 4940