Accrington, BB5 0PZ | Investment Property for Sale | VES-BB5-004

Opportunity to purchase a HMO in Accrington which will generate a gross yield of 8.9%

£125,000

HMO Terraced House

VES-BB5-004

INITIAL INVESTMENT

£37,500

Based on

deposit: £31,250

stamp duty: £3,750

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£11,124

GROSS YIELD

8.9%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Leasehold

4 bedrooms

1 bathroom

1 reception room

850

Fully Furnished

Leasehold information

  • Length of lease: 980 years
  • Year lease started: 1982
  • Ground rent: tbc
  • Service charge: NIL

Property information

  • Brand new HMO under development
  • The property is currently undergoing full refurbishment and redecoration works
  • The works are expected to complete by September/October 2021
  • 4 bedrooms
  • 1 reception rooms
  • 1 shared bathroom
  • Communal kitchen
  • EPC rating: the current rating is D, but it is expected that this will improve following the completion of works

Rental information

  • Tenants have already been sourced for this property
  • A 7-year (flexible term) FRI lease has been agreed
  • The tenant pays all bills
  • Agreed monthly rental income £927

Location information

  • Accrington town centre and railway station are 0.5 miles on foot from the property
  • Woodnook Vale Nature Reserve is as short walk from the property
  • Access to the M65 motorway by junction 7 is 2.5 miles by car

Notes

We are awaiting the floorplan from the vendor as well as internal photos and will add them as soon as they are received.

Following the works the vendor will arrange for a new EPC to be carried out. Once this is received the listing will be updated accordingly.

Please note that Vesta has not visited this property and that the vendor has provided all material.

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Accrington, Lancashire

Accrington is a town in Lancashire and lies approximately 4 miles east of Blackburn, 6 miles west of Burnley, 13 miles east of Preston and 20 miles north of Manchester.

The town is well connected via railway as it lies on the East Lancashire Line with trains running from Blackpool to York and Leeds. A change at Preston enables a vital link to London or Scotland.

Some of the local landmarks include Haworth Art Gallery, Accrington Town Hall, Oakhill Park and The Coppice and Peel Park.

The local council has recently embarked on a £2 million of capital investment programme to support the regeneration of Accrington town centre, including the renovation of Town Hall and Market Hall (both a 5-minute walk) and along Blackburn Road. A further quarter of a million pounds has been earmarked by the council to improve the central Milnshaw Park (a 15-minute walk).

Richmond Hill Street,

Accrington,

Lancashire,

England,

BB5 0PZ

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2021 Vesta Global Limited. All rights reserved.