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AGENT'S DETAILS


Newly Renovated HMO in Gainsborough

For sale: £250,000.00|House, Mixed Use, Other, Residential, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£250,000.00
ADDRESS8, Bridge Road, Gainsborough, DN21 1JU
TYPEHouse, Mixed Use, Other, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON23rd February 2021

DESCRIPTION

This 6-bed, all en-suite HMO is just nearing the end of the back-to-brick development and will be ready for the first tenants to move in around March 2021.

Full conversion from 4 bed, 3 story terraced house including new dormer installation to 2nd floor, rework of existing layouts using architects design in line with building control/ planning to produce a high end co – living space.

Expectations over income are an average of £100 per week, per room across the 6 bedrooms, generating a total expected gross income of £31,176 PA.

Income (based on projections and current rents achieved from this developer on their HMO nearby)

Room 1 - £433.00 / Room 2 - £433.00 / Room 3 -£433.00

Room 4 - £433.00 / Room 5 - £433.00 / Room 6 - £433.00 / Total - £2,598.00 PCM

Running Costs (Projected)

Gas £120.00 / Electric £120.00 / Water £70.00 / Council Tax £104.00

TV License £12.00 / Broadband £50.00 / Cleaner £80.00 / Management £312.00

Income
Income (based on projections and current rents achieved from this developer on their HMO nearby)

Room 1 - £433.00 / Room 2 - £433.00 / Room 3 -£433.00

Room 4 - £433.00 / Room 5 - £433.00 / Room 6 - £433.00 / Total - £2,598.00 PCM

Running Costs (Projected)

Gas £120.00 / Electric £120.00 / Water £70.00 / Council Tax £104.00

TV License £12.00 / Broadband £50.00 / Cleaner £80.00 / Management £312.00 / TOTAL £868.00

Features
Full Back-to-Brick Refurbishment

6 Bed All En Suite

Quality Development

Expected Income £31,000 PA +

Managing Agent In Place

2% + Vat Buyer's Fee

LOCATION

Location: 8, Bridge Road, Gainsborough, DN21 1JU

Gainsborough Lea Road (0.5 miles)

Gainsborough Central (0.5 miles)

Retford (8.9 miles)

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