An excellent 9-bed HMO on a prominent road in Stoke, popular with tenants due to the local employment and amenities. The property has been self-managed by the current owners at high occupancy for the last few years from local working tenants.
The property comprises of 9 en-suite bedrooms ranging from large doubles to smaller singles (which is good for varying tenant budgets), a living room, kitchen, utility room and there is parking to the rear for a number of cars.
Income when full is £44,700 offering an attractive 12.4% gross yield.
The hospital is 0.9 miles away which is within walking distance to a number of tenants who have worked there (some current tenants who cycle to work). The property is in close proximity to warehousing and logistics sites on Trentham Business Park (Sir Matthews Way) where Amazon, PetsatHome, Magnet, Screwfix for example are situated as well as smaller businesses and also the car showrooms and of course Britannia Football Stadium! Sideway Park that houses H&M, Sainsburys etc warehousing and logistics and then on the nearest site close to the house is Dunelm, Marks and Spencers the Michelin factory is in the same location along with another Pets at Home logistics and a small office park where the likes of Barclays are situated.
New plumbing to service all 9 new ensuites requiring new boiler and extra large water tank for pressurised system.
Planning, architects, building regs, HMO and finance fees and costs.
New stud walling to create new rooms and ensuites
New waste layout to handle waste from 9 rooms.
Replacement of double glazing glass and replacement of some windows.
Double skin to external outhouse to knock through to make new utility room and install plumbing, electrics and waste to service washers and dryers. Four coin pay metres although we have never charged there is the option to charge and help cover the cost of the electricity.
Damp course and some dry rot treatment in the cellar (all guaranteed and copies available)
Knock through into roof space to make room 9, add additional joists to make the floor compliant, insulate etc.
New fire system to be compliant with regs.
Room 1 - £450.00 / Room 2 - £375.00 / Room 3 - £385.00 / Room 4 - £465.00
Room 5 - £435.00 / Room 6 - £325.00 / Room 7 - £450.00
Room 8 - £375.00 / Room 9 - £465.00 / Total - £3,725 PCM
Gas/Elec £264.00 / Water £142.00 / Council Tax £102.50 / TV License £13.00
Broadband £80.00 / Cleaner £100.00 / Management £- / Insurance £45.00
Excellent Historical Occupancy
Close to Employment and Transport links
Extensive Works Undertaken
£44,700 PA Income When Full
2% + Vat Buyer's Fee
2% + Vat Buyer's Fee