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8 bed detached house
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Our Summary
- The property was previously a dental practice but had sat vacant for years before the current owners got full planning permission to convert from commercial to an 8 unit House of Multiple Occupancy (planning reference DC/086361), which included a rear extension and loft extension
- HMO License and Planning Permission in place
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Description
This detached HMO property is a highly desirable investment opportunity, boasting 8 spacious bedrooms and 8 en-suite bathrooms spread across 3 floors. The property has been extensively renovated and extended, offering a total floor area of 187m2. With a strong rental income of £72,060 per annum, averaging £750 per room, the property generates a gross yield of 10.67%.
The property is currently fully let to 8 professional tenants on AST contracts, demonstrating the high demand for large rooms with en-suites in the area. The property has a rich history, previously a dental practice that was vacant for years before being converted into a HMO with full planning permission. The result is a brand new, high-spec property that offers a turn-key investment for a new buyer, providing peace of mind with its modern condition and strong rental income.