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AGENT'S DETAILS


Doncaster DN7 - Fully Managed 5-bed HMO Development Opportunity

For sale: £216,343.00|1076 Sq Ft|House, Other, Residential, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£216,343.00
SIZE1076 Sq Ft
ADDRESSDoncaster - DN7
TYPEHouse, Other, Residential, Other Property Types & Opportunities
TENUREDevelopment Opportunity, For Sale Freehold
POSTED ON8th February 2021

DESCRIPTION

Investment Consideration:
ERV: £27,820 per annum GIY: ⁓ 12.86%
Net Initial Yield: ⁓10.09% (⁓15.43% - subject to re-mortgage)
Fully managed development opportunity to convert a semi-detached house to 5-Bedroom HMO.
Estimated development time: 8-10 weeks
The property will be fully tenanted within 3-4 weeks from development completion
Investor would be able to re-mortgage immediately on completion of property through the developer’s broker.
Total area size of 100 sq m (1,076 sq ft)
Located close to local amenities and shops in a popular area for working professionals with excellent access to the biggest industrial estate in England.

Property Description:
The property comprises semi-detached house arranged over ground and first floor.
The property benefit from large garden. Total area size 100 sq m (1,076 sq ft).

Schedule of Work:
Development commences after completion of contract. Investor would have to pay 50% payment of build cost, invoiced directly with weekly build updates. The second 50% payment is due halfway through. The furniture pack and developers profit is paid out at the end.

Development Completion:
Average development completion time is 8‐10 weeks from reservation.

Handover:
The property will be fully tenanted with working professionals within 3‐4 weeks from development completion.

Re-mortgage:
Investor would be able to re-mortgage immediately on completion of property through the developer’s broker.

Location:
Doncaster is a large minster and market town in South Yorkshire, England. Together with its surrounding suburbs and settlements, the town forms part of the Metropolitan Borough of Doncaster, which had a mid-2019 est. population of 311,890. The town itself has a population of 109,805. Doncaster is about 17 miles (30 km) north-east of Sheffield, with which it is served by an international airport, Doncaster Sheffield Airport in Finningley. Due to its proximity to major urban centres and motorway/rail infrastructure, Doncaster has a number of major distribution centres, including the 420 acre Doncaster International Railport, which dispatches goods to Europe by rail. Large warehousing and logistic capabilities for retailers such as Next, Tesco, IKEA, Amazon.com, Lidl and Faberge are also sited there. The B&Q distribution centre next to the DFS UK headquarters at Redhouse A1(M) junction 38 was the largest free-standing warehouse in the UK. A significant proportion of fresh and frozen goods for northern supermarkets is dispatched by road from Doncaster. Doncaster is situated on the A1(M) and M18 motorways, within 20 minutes of the key M1 and M62 motorways. The 15-mile (24 km) A1(M) motorway bypass cost £6 million and was opened by Ernest Marples in 1961. The former route is now the A638 and partly the A614 to Blyth. Doncaster is also an important railway town with a station on the East Coast Main Line.

LOCATION

Location: Doncaster - DN7

Doncaster (1.1 miles)

Bentley (South Yorks) (2.6 miles)

Conisbrough (3.5 miles)

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