Rugby, CV21 2PN | Investment Property for Sale | VES-CV21-002

Opportunity to purchase a 10-bed HMO in Rugby generating £68,916 rent pa & gross yield of 10%

£690,000

HMO Terraced House

VES-CV21-002

INITIAL INVESTMENT

£220,200

Based on

deposit: £172,500

stamp duty: £45,200

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£68,916

GROSS YIELD

10.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

10 bedrooms

10 bathrooms

1 reception room

2,659

Fully Furnished

Property information

  • Spread over 3 floors
  • Fully licenced 10-bed HMO
  • The HMO licence allows for 16 occupants and specifies which rooms can accommodate couples
  • Victorian building, previously used as offices, purchased and converted into a large 10-unit HMO
  • Property was also extended over 2 storeys at the rear
  • All bedrooms come with ensuite shower rooms
  • 9 of 10 rooms come with a kitchenette
  • Large shared open plan kitchen, living room and guest toilet on the ground floor
  • Laundry (including washing machines & tumble dryers) and plant room in the basement
  • Large rear garden with bike storage area
  • The property is managed by an agent

Rental information

The current rental information and occupancy levels are:

  • Room 1 - £600 pcm - single occupancy
  • Room 2 - £550 pcm - single occupancy
  • Room 3 - £625 pcm - single occupancy
  • Room 4 - £600 pcm - single occupancy
  • Room 5 - £495 pcm - single occupancy
  • Room 6 - £500 pcm - single occupancy
  • Room 7 - £560 pcm - single occupancy
  • Room 8 - £595 pcm - double occupancy
  • Room 9 - £600 pcm - single occupancy
  • Room 10 - £618 pcm - single occupancy
  • Total rent pcm: £5,743
  • Total rent pa: £68,916

Running costs

The vendor provided us with the following running costs of this property for the last 12 months:

  • Gas bill: £3,173.85 pa
  • Electricity bill: £1,239.14 pa
  • Water bill: £2,003.97 pa
  • Internet bill: £473.88 pa
  • Total cost pa: £6,890.84
  • Total cost pcm: £574.24

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 Rugby, Warwickshire

Rugby is a market town in Warwickshire, England, and lies around 83 miles north of London, 30 miles east of Birmingham and 11 miles east of Coventry.

The town is located near several major roads such as the M6, M1 and M45 motorways, the A5, A14 and A45 roads, connecting it to the rest of the country.

Rugby railway station is on the West Coast Main Line and runs regular services to London Euston, Birmingham New Street, Stafford and Crewe. Less frequent train services go to Glasgow Central, Manchester, Chester, Liverpool, Blackpool, Preston, Carlisle, Wolverhampton and Lancaster.

There are two airports nearby, Birmingham Airport, which can be reached via direct rail links, and Coventry Airport. Coventry Airport currently doesn’t offer any public or chartered flights.

Rugby is most famous for the invention of rugby football by pupils of the local school. The statue of William Webb Ellis is one of the most visited parts of town. Other places of interest include the Rugby School Museum, the Webb Ellis Rugby Football Museum, Benn Hall, Newbold Quarry Park and Swift Valley Nature Reserve. Other nearby places of interest include Brandon Marsh, Dunchurch, Draycote Water, Stanford Hall, Brownsover Hall and Ryton Organic Gardens.

The main shopping area in town is centred around the streets surrounding the Clock Tower, including the Rugby Central Shopping Centre and the street market which is open every Monday, Friday and Saturday. There area also several out of town retail parks. Education is provided by several primary and secondary schools as well as Rugby College.

The local economy is made up of the engineering sector, cement making, tourism, as well as warehousing, distribution and light industry. Some of the larger employers include Alstom, Rolls-Royce, Cemex and Hermes.

Regent Place,

Rugby,

Warwickshire,

England,

CV21 2PN

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Important Note

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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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