Opportunity to purchase a 12-bed HMO in Lytham St Annes generating £55,980 rent pa & gross yield of 9.4%
£595,000
HMO Semi-Detached House
VES-FY8-001
INITIAL INVESTMENT
£173,850
Based on
deposit: £148,750
stamp duty: £22,600
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£55,980
GROSS YIELD
9.4%
The property
TENANCY
Tenanted
TENURE
Leasehold
GROUND RENT
£30
12 bedrooms
7 bathrooms
5,630
Fully Furnished
The vendor is also open to selling the 1-bed mews cottage located at the rear of this property for an additional £140,000. See photo 19.
Leasehold information
- Length of lease: 999 years
- Year lease started: 1894
- Service charge: not applicable
Property information
- Fully licenced HMO
- Spread over 4 floors
- 5 shared kitchens
- Bedroom 2, 3 and 4 are ensuite
- All other tenants have access to shared bathroom facilities
- Parking spaces for 6 cars at the front of the house
- EPC rating E
The local authorities describe the property as follows: a stone-fronted villa known as a Porritt-built House, which is among the oldest and most attractive properties in the town. The property is part of a designated conservation area, recognised as being of special architectural and historic interest, which includes the adjacent Ashton Gardens.
Rental information
- 11 out of 12 rooms are currently let
- Current monthly rental income is £4,665
- Expected monthly rental income is £5,135
- ERV is based on the renovation of room 12 and a new kitchen in the basement area
- Expected gross yield 10.4%
Running costs
The vendor provided us with the following running costs of this property:
- Council tax: £285 pcm
- Gas & electric bill: £450 pcm
- Water bill: £145 pcm
- Internet & TV licence: £40 pcm
- Buildings & contents insurance: £85 pcm
- Cleaner: £100 pcm
- Total cost pcm: £1,105
- Total cost pa: £13,260
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 Lytham St Annes; Lancashire
Lytham St Annes is a seaside resort on the Fylde coast in Lancashire and lies around 6 miles north of Blackpool. The M55 motorway starts nearby connecting it to the M6 at Preston.
Lytham St Annes is made up of the dual seaside towns of Lytham and St Annes, which are located along a picturesque stretch of coastline.
There are three local railway stations which are on the Blackpool South to Preston branch of the Blackpool Branch Lines. The stations are Lytham station, St Annes-on-the-Sea, Ansdell & Fairhaven station. From Blackpool trains run to Preston, Liverpool Lime Street, Manchester Piccadilly, as well as London Euston.
Some of the local attractions include St Anne’s beach, pier and award-winning beach huts, the Georgian Lytham Hall, Ashton Gardens and Lytham Windmill. A number of annual festivals are also held in Lytham and St Annes, such as the five-day Lytham Music Festival, Lytham 1940s Weekend and St. Annes International Kite Festival.
With its close proximity to Blackpool there are many other attractions and shopping options to be found.
Some of the largest local employers include British Aerospace Systems at nearby Warton and Samlesbury, AXA Insurance at Lytham and British Nuclear Fuels at Salwick.
Clifton Drive North,
Lytham Saint Annes,
Lancashire,
England,
FY8 2PA
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