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Buckingham - Freehold HMO Investment

For sale: £495,000.00|1023 Sq Ft|Flat, House, Other, Residential, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£495,000.00
SIZE1023 Sq Ft
ADDRESS44 Nelson Street, Buckingham MK18 1DA
TYPEFlat, House, Other, Residential, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON14th October 2020

DESCRIPTION

Investment Consideration:
Gross Initial Yield: 10.50%
Rental Income: £52,000 p.a.
Comprises of 5 studio rooms as a fully licensed HMO
All rooms benefit from own en-suite and kitchenette
Total area size of 95 sq m (1,023 sq ft)
Located within short walk from the High Street which occupies retailers such as WHSmith, Lloyds Bank, Barclays, Ladbrokes, Domino`s Pizza and many more.

Property Description:
The property comprises of 5 studio rooms as a fully licensed HMO. Each room has its own kitchenette and en-suite.

The property provides the following accommodation and dimensions:
Ground Floor: 2 x Studio Rooms
First Floor: 2 x Studio Rooms
Second Floor: 1 x Studio Room
Total area size: 95 sq m (1,023 sq ft)

Tenancy:
Room 1 is at present let to an Individual from 18 January 2020 to 11 January 2021 at a current rent of £10,140 per annum. Tenant has paid holding fee to renew until Dec 2021. End date to be confirmed.

Room 2 is at present let to an Individual from 25 September 2020 to 13 December 2021 at a current rent of £10,140 per annum.

Room 3 is at present let to an Individual from 13 January 2020 to 5 January 2021 at a current rent of £9,750 per annum. Tenant has paid holding fee to move into studio room 5 when vacant until Dec 2021. Vendor has already agreed new let for 12 months from January 2021. Holding fee has been paid.

Room 4 is at present let to an Individual from 25 September 2020 to 17 September 2021 at a current rent of £9,750 per annum.

Room 5 is at present let to an Individual from 5 January 2020 to 29 December 2020 at a current rent of £12,220 per annum.

Location:
Buckingham is a market town in north Buckinghamshire, England, close to the borders of Northamptonshire and Oxfordshire. Buckingham has a variety of restaurants and pubs, typical of a market town. It has a number of local shops, both national and independent. Market days are Tuesday and Saturday which take over Market Hill and the High Street cattle pens. The property is located within short walk from the High Street which occupies retailers such as WHSmith, Lloyds Bank, Barclays, Ladbrokes, Domino`s Pizza and many more.

LOCATION

Location: 44 Nelson Street, Buckingham MK18 1DA

Wolverton (9.2 miles)

Bicester North (9.5 miles)

Milton Keynes Central (9.6 miles)

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