Loughborough, LE11 1GG | Investment Property for Sale | VES-LE11-001

Opportunity to purchase a HMO in Loughborough generating £23,400 rent pa and 10% gross yield

£235,000

HMO Terraced House

VES-LE11-001

INITIAL INVESTMENT

£68,300

Based on

deposit: £58,750

stamp duty: £7,050

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£23,400

GROSS YIELD

10.0%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Vacant

TENURE

Leasehold

GROUND RENT

£500

SERVICE CHARGE

£1,420

6 bedrooms

2 bathrooms

1 reception room

1,315

Fully Furnished

Leasehold information

  • Length of lease: 99 years
  • Year lease started: 2007

Property information

  • Fully licenced HMO
  • Spread over 3 floors
  • Large kitchen/diner
  • Separate reception room
  • 2 dedicated parking spaces
  • EPC rating D
  • Bills included
  • Expected monthly rental income £1,950, based on previous performance

Running costs

The vendor provided us with the following running costs of this property:

  • Council tax £170
  • Utilities £100 pcm
  • TV/cable £40 pcm
  • Total cost pcm: £310
  • Total cost pa: £3,720

Property location

  • Bus link just outside of the property
  • Loughborough train station is less than 10-minute walk from the property
  • The city centre is around half a mile from the property

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 Loughborough, Leicestershire

Loughborough is a town in Leicestershire and lies 12 miles north of Leicester, 16 miles south of Nottingham and 20 miles south-east of Derby.

Just west of Loughborough is Junction 23 of the M1 motorway connecting it to Leeds and London.

The town’s railway station is operated primarily by East Midlands Railway with services on the Midland Main Line south-bound to Leicester, Bedford, Luton and London St Pancras, and north-bound to Lincoln, Derby, Sheffield, Leeds and York. The service to London also provides a link to Europe via Eurostar, whilst changing trains at Leicester and Derby allow travel on CrossCountry train services between the north-east of Scotland and the south-west of England.

The closest airport is East Midlands Airport, which is under 9 miles outside of town. Flight destinations from this airport are mainly in Europe, with some domestic locations too.

Loughborough has five museums, Charnwood Museum, Carillon and War Memorial, Loughborough Library, the Old Rectory of the medieval All Saints parish church. The fifth museum is the Bellfoundry Museum telling the story of bell making by John Taylor & Co, who made bells for St Paul’s Cathedral and for York Minster.

The town’s main shopping area is centred around Market Street, Market Place and The Rushes/Swan Street. The Rushes Shopping Centre and Carillon Court offer a variety of well-known retail shops. In addition there is a large outdoor market held in Market Place every Thursday and Saturday as well as a monthly farmers market.

Loughborough is also home to Loughborough University, a public research university, which has the largest sports scholarship in the UK. It acquired the former broadcasting centre at the Queen Elizabeth Olympic Park in London and opened it as a second campus in 2015.

Some of the boroughs largest employers are Loughborough University, Loughborough College of Further Education, 3M Healthcare, Fisher Scientific, Lafarge, Intelligent Energy and William Davis.

Queens Road,

Loughborough,

Leicestershire,

England,

LE11 1GG

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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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