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Hull Investment Opportunity

Property Overview

  • 6 Bedrooms
  • 2 Bathrooms
  • Mid Terrace Property

Financial Information

  • Yield 12.7%
  • Market Rent £1,541pcm

Location Information

  • Residential Location just off Beverley Road
  • Within Close Proximity to the University

More Information

To receive the full brochure you must register on our exclusive buyers database here.

Detailed Description

We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 6%.

The property is a successful long-standing HMO, the six-bedroom, two-bathroom house is located on a residential street at the heart of Newland Avenue – a popular hub for all Hull residents. It is full of small independent shops, cafes, restaurants and bars. To the top of Newland Avenue is Cottingham Road where the University of Hull is located (very convenient for student tenants), Cottingham Road offers further amenities including food outlets, and supermarkets. The property is ideal for the student rental market due to the location and the layout of the property which includes a low maintenance enclosed yard ideal for Summer BBQ’s and storing bikes.

The property is being marketed for the 1st September 2024 academic year at higher rents meaning that the returns are set to increase from September 2024. 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 mid-terrace property and offers approx 1,292 ft2 of internal accommodation.

The accommodation comprises – an entrance hall with a partially glazed front door and window above, high ceilings, flush fire doors, and tasteful decor which is carried throughout the property. The front reception is the first of the six bedrooms and offers bright, spacious accommodation. The second reception room is the living space which has access to the under-stairs cupboard and leads through to the attractive modern kitchen with fitted appliances including a washing machine, dishwasher, fan oven, electric hob, extraction hood, and American-style side-by-side fridge / freezer, the patterned flooring and neutral units with wood effect tops make the kitchen really quite striking and up-lifting.

Passing through the kitchen there is a UPVC back door to the enclosed rear courtyard and beyond the kitchen from a small lobby is the bathroom with a full suite including shower over bath and a separate shower room adjacent.

To the first floor, there is a WC housing a toilet, basin with vanity unit under, and mirrored wall unit, there are three further bedrooms on this floor, two of which benefit from having a basin within the room. Up the final staircase to the second floor are the two final bedrooms both of which have sloping ceilings to one side of the room giving them a cosy loft feel with rood windows allowing for natural light, one of the two also benefits from a basin within the room.

Externally the plot is approx 0.023 acres with an enclosed hard surface yard to the rear with shared pedestrian access to the side.

The property is fully double-glazed, including the front and back door, and is heated by an ‘Ideal’ gas boiler which has a remote heating control.

The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence. Please note that while a HMO licence is valid for 5 years, they are not transferrable and follow the person, not the property – a new licence is required upon transfer of ownership.

The property meets with current fire regulation requirements having a Grade C-A fire alarm system with call points installed, fire doors throughout, and a fire blanket in the kitchen.

Buyers premium of £5,400 inc VAT is payable upon completion. Non-refundable reservation fee of £1,500 plus VAT which is deducted from the buyers premium is due upon sale agreed.

To receive the full brochure you must register on our exclusive buyers database here.