Kettering, NN16 | Investment Property for Sale | VES-NN16-001

Opportunity to purchase a portfolio of 5 HMOs in Kettering generating £90,740 & a gross yield of 8.5%

£1,070,000

5-Unit HMO Portfolio

VES-NN16-001

INITIAL INVESTMENT

£480,000

GROSS RENT / YIELD

£90,740 / 8.5%

NET RENT / YIELD

£69,695 / 6.5%

ADD TO FAVOURITES

Above average yield

Through our expertise and research, we have found that this property is above the average of this location based on data from REalyse, PropertyData and Zoopla

The higher the yield the stronger the return on investment.

The portfolio

TENURE

Freehold

NO OF UNITS

5

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

TBC

PRICE SQ FT

£0

Property details:

  • Fully let 5-unit HMO portfolio in Kettering & Northampton
  • 2 x semi-detached houses and 3 x terraced houses comprising of
  • 2 x 5-beds, 2 x 4-beds and 1 x 3-bed house
  • The vendor is open to selling the properties individually.

The portfolio achieves an annual gross rent of £90,740.04 and we can provide a payment breakdown by room upon request.

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

Running costs:

  • Council tax: £5,500
  • Water bill: £2,750
  • Gas & electricity bills: £6,000
  • Virgin Wi-Fi bill: £1,800
  • Maintenance: £2,500
  • Total pa: £18,550
  • Total pcm: £1,545.83

Please contact us for a bespoke financial analysis.

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 the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

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Rental Income

GROSS RENT PER ANNUM

£90,740

Equivalent of £7,562 per calendar month (PCM).

GROSS RENTAL YIELD

8.5%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£69,695

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

6.5%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£21,045

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

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.

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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.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

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