Kettering, NN15 7QQ | Investment Property for Sale | VES-NN15-002

Opportunity to purchase a HMO in Kettering with the potential to generate a gross yield of 10.6%

£475,000

HMO Terraced House

VES-NN15-002

INITIAL INVESTMENT

£149,250

Based on

deposit: £118,750

stamp duty: £28,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£50,400

GROSS YIELD

10.6%

ADD TO FAVOURITES

Sold STC

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The property

TENANCY

Vacant

TENURE

Freehold

7 bedrooms

6 bathrooms

1 reception room

1,600

Fully Furnished

Property information

  • Brand new HMO under development
  • The works are expected to last 12-14 weeks from listing
  • Works are undertaken with the aim to create 7 bedrooms, which is reflected in this listing
  • The property is awaiting sign-off for the 7th bedroom, currently this is being built unless there is a negative outcome on the planning and this will revert to the current 6 rooms layout. When Vesta is made aware by the vendor of the outcome we will change the listing accordingly.
  • Spread over 3 floors
  • 7 x furnished bedrooms
  • 5 x bedrooms come with ensuite bathroom
  • All other tenants have the use of a shared bathroom
  • Communal kitchen and dining space
  • Low maintenance garden at the rear of the property
  • EPC rating E

Refurbishment information

The schedule of works consists 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
  • Brand new custom made furniture

Rental information

Once fully let the vendor estimates that the property will generate:

  • Aggregate rental income pcm: £4,200
  • Aggregate rental income pa: £50,400
  • Aggregate gross yield: 9.4%

Running costs

We are currently awaiting the running costs from the vendor.

Notes

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

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.

The Grove,

Kettering,

Northamptonshire,

England,

NN15 7QQ

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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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