Kettering, NN16 9NB | Investment Property for Sale | VES-NN16-002

Opportunity to purchase a brand new HMO in Kettering with the potential to generate a gross yield of 9.9%

£450,000

HMO End of Terrace House

VES-NN16-002

INITIAL INVESTMENT

£128,500

Based on

deposit: £112,500

stamp duty: £13,500

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£44,340

GROSS YIELD

9.9%

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The property

TENANCY

Vacant

TENURE

Freehold

6 bedrooms

6 bathrooms

0

1,800

Fully Furnished

Property information

  • Brand new HMO
  • HMO licence not yet in place; the vendor will begin the application process once all works are completed and the relevant certificates (gas, electric, fire alarm, etc.) are in place
  • The property recently underwent extensive refurbishment works, see below for details
  • Spread over 2 floors
  • Communal kitchen and dining space
  • Separate utility room
  • Low maintenance garden at the rear of the property
  • EPC rating E
  • Video walkthrough available upon request

Refurbishment information

The vendor has extensively refurbished the property to ensure many years of maintenance-free usage. Works include:

  • Fully rewired and replumbed
  • Fully replastered and redecorated
  • First floor reconfigured including new stud walls with acoustic insulation and fireboard
  • New carpets and LVT flooring laid throughout
  • New custom-made kitchen
  • New appliances and white goods
  • Added 6 ensuite bathrooms with heated towel rails and 900mm shower trays
  • Installation of a new boiler and 300L water cylinder
  • New fully compliant alarm system installed
  • Installation of WiFi nodes
  • External front of the house painted including bay windows and retaining brick wall
  • Rear garden cleared and gravelled for low maintenance
  • Installation of a new front door
  • Installation of new internal doors including fire doors where required
  • Installation of a new soil pipe and all drainage checked and upgraded
  • New water supply installed and lead pipework removed

Rental income

The vendor estimates that the property will be fully tenanted from April 2021 and it is expected to generate:

  • Aggregate rental income pcm: £3,695 (includes £130 pcm for the garage)
  • Aggregate rental income pa: £44,310
  • Aggregate gross yield: 9.9%

Running costs

The vendor estimates the running costs of this property to be £450 - £475 pcm.

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 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.

Bath Road,

Kettering,

Northamptonshire,

England,

NN16 9NB

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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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