Opportunity to purchase a HMO in Kettering generating £45,000 rent pa & a gross yield of 9.5%
£475,000
HMO Terraced House
VES-NN15-004
INITIAL INVESTMENT
£149,250
Based on
deposit: £118,750
stamp duty: £28,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£45,000
GROSS YIELD
9.5%
The property
TENANCY
Tenanted
TENURE
Freehold
6 bedrooms
6 bathrooms
TBC
Fully Furnished
Property information
- Brand new HMO
- The property underwent full refurbishment, see details below
- Spread over 2 floors
- 6 x furnished bedrooms
- 5 x bedrooms come with an ensuite bathroom
- The other tenant has exclusive use of a single bathroom
- Communal kitchen and dining space
- Separate utility room
- Low maintenance garden at the rear of the property, access via the kitchen and utility room
- EPC rating C
Refurbishment information
The schedule of works consisted of:
- Full back to brick renovation
- Rewiring, with a full fire alarm system including smoke and heat detectors along with emergency lighting
- Replumbing, including new boiler, cylinder and radiators throughout
- Full re-plastering
- New decoration throughout
- All new flooring throughout
- All new bathrooms
- Fully redesigned brand new kitchen
- All new appliances
Rental information
The property is fully tenanted and generates:
- Aggregate rental income pcm: £3,750
- Aggregate rental income pa: £45,000
- Aggregate gross yield: 9.5%
Running costs
The vendor estimates the running costs to be £465 pcm, excluding management and mortgage.
Location information
- The property is about 10 minutes from Kettering town centre
- Kettering railway station is 0.4 miles from the property and can be easily reached on foot
- There are several bus stops within a short walk from the property with regular services
- Easy access to the A14
Notes
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
The first 2 photos are of the actual kitchen. The rest of the photos are not of the exact property and are for illustrative purposes only. However, they do represent the standard of previous developments from this vendor and to which this property will be refurbished.
The floorplans do reflect this property following the completed works.
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 Kettering, Northamptonshire
Kettering is a town in the county of Northamptonshire in the East Midlands. It is situated on the west side of the River Ise, around 67 miles north of London, 27 miles northwest of Peterborough and 15 miles northeast of Northampton.
This area is serviced by Kettering railway station which lies on the Midland Main Line and is managed by East Midland Trains. East Midland Trains operates a half-hourly service to London St Pancras and hourly to Nottingham via Leicester or to Corby. During peak times one Nottingham service continues to Lincoln via Newark and one Corby service on to Melton Mowbray.
In town there is a range of retail options centred around Newland Street, where one can find the market on one side and the Newlands Shopping Centre on the other. Newlands Shopping Centre has a collection of around 45 stores and services including some of the national favourites. Along the high street leading up to this shopping centre are an array of restaurants, pubs and bars for all of one’s dining needs.
The economy of Kettering is based on service and distribution industries due to its central location in the country and its great transport links. Kettering’s unemployment rate is amongst the lowest in the country with 80% of its adults in full-time employment. A wide range of companies run their operations from Kettering, including Aryzta, Pegasus Software, Weetabix and Morrisons Distribution to name a few. Kettering Business Park is a recent commercial property development which houses many office buildings as well as large distribution warehouses, which in turn created thousands of jobs in the local economy.
This location could be ideal for a young family seeking local educational options for their children. Primary schools in town include St Peter’s School, Park Road School and St Thomas More Catholic School, all of which are co-educational and educate children to the age of 11. For those looking for secondary school education there is Bishop Stopford School and Kettering Science Academy, both schools educate from the age of 3 all the way to 18.
Garfield Street,
Kettering,
Northamptonshire,
England,
NN15 7HX
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