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AGENT'S DETAILS


Excellent HMO in Hereford

For sale: POA|House, Residential

PROPERTY DETAILS

FOR SALEPOA
ADDRESS8 Meadow Way, Hereford, Herefordshire, HR2 6SG
TYPEHouse, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON26th January 2021

DESCRIPTION

A brilliant HMO investment in Herefordshire that combines the two main variables of 'income' and 'capital growth'. With a fantastic historical occupancy of over £36,000 PA, based on 6 spacious rooms and generous communal space, the property is popular with tenants and this is shown by how long many have stayed in the property.

Licensed and converted for 6 sharing, the property has enough room to divide the living room and add a 7th bedroom (STP) - we fell that the benefits as a popular and spacious 6-bed could outweigh the conversion but it is an option for the new buyer to consider.

This property is a three-storey executive detached house, built 2007, with just under 2,000 sq.ft of accommodation with a double garage and parking for six cars around the property, front and rear gardens, see house layout plan for details. The property is within a 15-minute walk to the City centre, Skylon Science park and University.

The property is licenced by Hereford council for 6 persons (this could be increased to 7 persons with the necessary planning permission). The property has 6 double bedrooms which are all single occupancy. The clients are all working professionals. The property is fully occupied with clients, which is fully managed by a specialist HMO management/letting agent Relocation PA.

The property has all the health and safety, fire doors, fire alarm system, fire extinguishers and fire blanket.

The communal area consists of: ground floor, very large lounge dining area, w/c, hallway and kitchen dining room.

First floor; wide landing, family bathroom with shower over bath, toilet and wash basin and storage cupboard, study room.

Second floor; landing, shower room with toilet and wash basin and storage cupboard

The bedrooms are fully furnished and decorated to a very high standard (communal areas have just been redecorated).

Income
Room 1 Master En-suite double £575.00 / Room 2 En-suite double £545.00

Room 3 Double £465.00 / Room 4 Large double £495.00

Room 5 Large double £500.00 / Room 6 Double £411.66

Garage £35.00 / Total £3,026.66 PCM or £36,319.92

Running Costs - Gas £63.18 / Elec £63.18 / Water £67.63 / Council Tax £233.47

TV License £13.37 / Broadband £20.70 / Cleaner £66.94 / Management £299.16

Features
Quality HMO

Spacious 6-Bed

Detached Property

Bricks & Mortar Value

Excellent Occupancy and Income History

£36,000 + Annual Income

2% + Vat Buyer's Fee

LOCATION

Location: 8 Meadow Way, Hereford, Herefordshire, HR2 6SG

Hereford (1.5 miles)

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