We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 5%.
A unique and appealing four-bedroom end-terrace house located on Clough Road. The property is in good condition and would make a great investment property, just a short walk from the University. The property is located on Clough Road a main road that leads onto Cottingham Road where the University is situated (under 1km from door to door).
The property is being marketed for the 1st September 2024 academic year. Being sold as a going concern, the buyer will purchase this ready-made investment complete with any tenants and furnishings (sold as seen).
The property is a traditional but unique-looking end-terrace property, with an enclosed rear yard and offers approx 1,313 ft 2 of internal accommodation.
The property of light and spacious rooms, and comprises of entrance hall, a double bedroom with two windows offering a dual aspect overlooking the front fore courted garden, a large communal lounge with a bay window and a cupboard off housing the boiler, a fitted dining kitchen, ground floor toilet and rear access beyond. The first floor is taken up with three further double bedrooms and a large bathroom (which offers the potential to be divided into two shower rooms). One of the four bedrooms also benefits from a vanity unit in the room.
The colour scheme throughout is neutral and sure to appeal to all prospective tenants. The house is sold with all of the furniture and furnishings in place, including appliances in the kitchen; all rooms have a built-in desk and shelves to assist tenants with their studies.
The property is heated via an ‘Ideal’ gas combi-boiler, benefits from UPVC double glazing, and has a Grade D interlinked fire detection system.
Externally the plot is of a good size (approx 0.035 acres) with a concrete forecourt to the front and, enclosed yard to the rear with shared pedestrian access from the side street, Minton Street.
The property sits within an Article 4 area which prevents the conversion of C3 (residential dwellings) into C4 HMO’s without planning permission, due to the cap on new supply the demand for these properties has gone up significantly and as such the values are strong. This property was converted before the implementation of the A4 and the seller can provide supporting evidence.
As the HMO has under 5 occupants no HMO Licence is required at present. Being an HMO the property has been installed with a Grade D – mains interlinked fire detection system with battery back up. Thumb turn locks on exit doors and amenity standards sufficient for the number of occupiers.
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Buyers premium of £4,000 + VAT – payable in two parts:
– A non-refundable reservation fee of £1,500 plus VAT
– The balance is due upon legal completion (which is collected and paid by the buyers solicitor)
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