Bicester, OX26 6QT | Investment Property for Sale | VES-OX26-001

Opportunity to purchase a HMO property in Bicester generating £33,300 rent pa & gross yield of 9%

£369,500

HMO Semi-Detached House

VES-OX26-001

INITIAL INVESTMENT

£114,435

Based on

deposit: £92,375

stamp duty: £19,560

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£33,300

GROSS YIELD

9.0%

ADD TO FAVOURITES

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The property

TENANCY

Tenanted

TENURE

Freehold

5 bedrooms

3 bathrooms

1 reception room

1,379

Fully Furnished

Property information

  • Spread over 2 floors
  • Fully licenced 6-bed HMO
  • Bedroom 1 comes with ensuite and built-in wardrobe
  • In addition to the family-sized bathroom, there is a separate shower room and a separate WC located on the ground floor
  • 5 potential 6 bedrooms
  • The lounge can be used as an extra bedroom
  • The property has a conservatory which leads out into the garden
  • EPC rating C
  • 3 off-road parking spaces
  • Video walk-throughs available upon request

Rental information

  • Room 1 - Let until 29th October 2020 - £600 pcm
  • Room 2 - Let until 13th March 2020 - £550 pcm
  • Room 3 - Currently reception, see details below
  • Room 4 - Vacant, references are being taken for new tenant - £550 pcm
  • Room 5 - Let until 6th June 2020 - £550 pcm
  • Room 6 - Let until 28th March 2021 - £525 pcm
  • Total rental income pcm £2,775
  • Total rental income pa £33,300

Room 3:

There is potential to let the reception as another bedroom. It was previously let for £600 pcm.

  • Total potential rental income pcm £3,375
  • Total potential rental income pa £40,500

Whilst the displayed financials below are market averages, these are the current running costs provided by the landlord:

Running costs

  • Council tax: £143
  • Water bill: £47.27 (not metered to keep costs stable)
  • Gas & electricity bill: £178
  • BT Infinity Fast speed broadband: £64.49
  • TV licence: £12.83
  • Cleaner: £260 (£120 every 2 weeks)
  • Total pcm: £705.59
  • Total pa: £8,467.08

Location information

The property is located within walking distance of Bicester Village retail shopping area, Bicester Village train station and Bicester town.

Note

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

Floorplans

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 Bicester, Oxfordshire

Bicester is a town in the Cherwell district in Oxfordshire, south-east England.

It lies around 15 miles north of Oxford, 65 miles north-west of London and 31 miles south of Northampton. Bicester has very good transport links and is close to junction 9 of the M40 motorway, linking it with London, Birmingham and Banbury. It also has good road links to Oxford, Kidlington, Buckingham, Aylesbury and Witney.

The town has two railway stations, Bicester North and Bicester Village. Bicester North is on the Chiltern Main Line and runs services south to London Marylebone and north to Banbury, Birmingham Snow Hill and Stratford-upon-Avon. Bicester Village station is on the Chiltern Main Line and also runs services between London Marylebone and Oxford. In the future there will also be East West Rail services connecting East Anglia with central, southern and western England. There are plans to link Oxford and Cambridge via Bicester, Milton Keynes and Bedford.

Bicester is close to three international airports, Luton, Heathrow and Birmingham. All are within an hour’s drive away. Oxford airport, a privately owned airport is around 10 miles away.

The town is a popular tourist attraction thanks to its nearby fashion outlet, Bicester Village. It is actually the second most visited location in the UK by Chinese tourists after Buckingham Palace.

Sheep Street and Pioneer Square in the centre of town offer a more relaxed shopping experience, with a range of high-street shops and a regular marketplace. There are plenty of restaurants and cafes offering mouth-watering dishes. As well as the Bicester institution Nash’s Bakery on Sheep Street. The bakery opened in 1930 and has won several awards for its bread, cakes and pies.

Bicester also has strong links to the military; the MoD Bicester is the army’s largest ordnance depot with its own railway and a bomb disposal training base. One of the town’s largest events of the year is the Bicester Carnival in association with Armed Forces Day. It includes a parade from Sheep Street to Pingle Field, circus workshops and a fair.

Fallowfields,

Bicester,

Oxfordshire,

England,

OX26 6QT

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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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