Banbury, OX16 3HD | Investment Property for Sale | VES-OX16-003

Opportunity to purchase a 6-bed HMO in Banbury generating £39,012 rent pa & gross yield of 9.2%

£425,000

HMO Terraced House

VES-OX16-003

INITIAL INVESTMENT

£121,500

Based on

deposit: £106,250

stamp duty: £12,750

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£39,012

GROSS YIELD

9.2%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

6 bathrooms

0

1,593

Fully Furnished

Property information

  • HMO licence for 8 people in 6 bedrooms
  • All bedrooms come with ensuite shower rooms
  • Shared kitchen/dining room
  • Rear garden with access via the kitchen
  • The property is managed by the vendor
  • EPC rating E

Rental information

  • Room 1 - £520 pcm
  • Room 2 - £498 pcm
  • Room 3 - £693 pcm
  • Room 4 - £520 pcm
  • Room 5 - £520 pcm
  • Room 6 - £500 pcm
  • Total rent pcm: £3,251
  • Total rent pa: £39,012

Running costs

The vendor provided us with the following running costs for this property:

  • Gas: £180 pcm
  • Council tax: £178 pcm
  • Water: £120 pcm
  • Wifi: £41 pcm
  • Cleaner: £80 pcm
  • Total cost pcm: £599
  • Total cost pa: £7,188

Location information

  • The property is located in the Grimsbury area of Banbury
  • The city centre is less than 1 miles from the property and can easily reached on foot or by bus, using the stop a few yards from the property
  • Banbury railway station is 0.5 miles away
  • Moorfield Park is less than a 5-minute walk from the property

Note

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

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 Banbury, Oxfordshire

Banbury is a small town in the north of the county of Oxfordshire, which is in the south of England. This town is located 64 miles northwest of London, 37 miles southeast of Birmingham and 25 miles south-southeast of Coventry.

The town of Banbury is serviced by Banbury Railway Station, which is operated by Arriva’s Chiltern Railways, Great Western Railway and CrossCountry. This station is only a short 13-minutes away from this property via bus. The Chiltern Main line runs services from London Euston to Birmingham New Street and another service from Birmingham to Oxford. The CrossCountry offers routes to destinations in the south such as Reading, Southampton and Basingstoke, and north to Manchester Piccadilly and Newcastle.

Banbury is a historic market town and the heart of the town is still home to a bustling commercial and retail centre surrounded by primarily rural areas. Castle Quay shopping mall is the main shopping complex in the centre of town and has over a hundred stores including many popular high-street names. This shopping mall is in the centre of Banbury by the Oxford Canal, Banbury Museum and Tooley’s Boatyard.

There are many job opportunities in the local area including big employers such s Tesco, HomeServe, CSC, Magna international and many more. Also, with quick transport links to the town of Oxford and surrounding areas commuters could easily make their way to jobs out of town.

There are various schooling options in the local area that may appeal to young families looking for educational institutions in walking distance. Hardwick Primary and Hill View Primary are both under ten-minutes away via foot and offer mixed-sex education up to the age of 11.

West Street,

Banbury,

Oxfordshire,

England,

OX16 3HD

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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.

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