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5 bed terraced house
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Price History
Our Summary
- Licensed HMO in Article 4 designation area - new HMOs on this road cannot be created without full planning consent
- In an Article 4 area, that licence represents a genuine competitive advantage, no competitor can create a new HMO on this road without a planning application, which protects the rental rates that the existing stock commands
- 7% gross yield) with scope to bring all rooms in line at £475 per calendar month, totalling £28,500 (12
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Description
The property is a five-bedroom, five-bathroom HMO on Nottingham Road, Derby, located near Rolls-Royce's Raynesway operation and Derby rail station, accessible by direct bus and within 0.83 miles away. The property has a gross yield of 11.7% at full occupancy and has been comprehensively refitted in 2024. The 2024 works included rewiring with an electrical installation certificate and building four en-suite bathrooms with building regulations approval.
The property has a HMO licence in place, making it a competitive advantage in an Article 4 area. The rooms are let on an all-inclusive basis at £450-£475 per month, and the current gross income is £21,900 per year with scope to increase to £28,500 at full occupancy. The property has a freehold tenure, solid brick construction, gas central heating, and no off-road parking but street parking is available nearby.