Wakefield, WF1 4PW | Investment Property for Sale | VES-WF1-007

Opportunity to purchase a 5-bed HMO in Wakefield with the potential to generate a gross yield of 11.1%

£260,000

HMO Terraced House

VES-WF1-007

INITIAL INVESTMENT

£78,300

Based on

deposit: £65,000

stamp duty: £10,800

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£28,860

GROSS YIELD

11.1%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Freehold

5 bedrooms

5 bathrooms

1 reception room

1,159

Fully Furnished

Property information

  • Brand new HMO under development
  • Works are expected to complete in Q1 2022
  • Spread over 4 floors
  • All rooms will have their own ensuite shower room
  • Shared kitchen and reception room
  • EPC rating D

Rental information

Once fully let the property is expected to achieve the following rents:

  • Room 1 - £476.67 pcm
  • Room 2 - £476.67 pcm
  • Room 3 - £476.67 pcm
  • Room 4 - £476.67 pcm
  • Room 5 - £498.33 pcm
  • Total rent pcm: £2,405
  • Total rent pa: £28,860

Running costs

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

  • Council tax: £94.55 pcm
  • Gas: £50 pcm
  • Electricity: £50 pcm
  • Water: £41.67 pcm
  • Internet: £33.33 pcm
  • TV licence: £13.33 pcm
  • Total cost pcm: £282.88
  • Total cost pa: £3,394.54

Location information

  • The property is just a 10-minute walk outside of the city centre
  • Wakefield Kirkgate railway station can be reached in 5 minutes on foot
  • Easy access to the A61 and A638

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

The internal photos are not of the exact property and are for illustrative purposes only. However, they do represent the standard of previous developments from this vendor and to which this property will be refurbished.

The floorplan does reflect this property once the works are completed.

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 Wakefield, West Yorkshire

Wakefield is a cathedral city in West Yorkshire on the eastern edge of the Pennines.

Wakefield is very well connected with the intersection of the M1 and M62 motorways nearby, connecting it with London to Leeds and Liverpool to Hull respectively. The A61, A638 and A642 roads cross here and the A636 and A650 roads start in the city.

Leeds Bradford Airport is around 19 miles north of the city.

The city has two railway stations, one is Wakefield Kirkgate station which lies on the Hallam, Pontefract and Huddersfield lines. It also runs some services to London King’s Cross. Wakefield Westgate station runs services to Leeds, Doncaster as well as stations towards London King’s Cross. Other train services go to Newcastle, Edinburgh, Birmingham and the South West. There are limited trains to Sheffield, Derby and Leicester. Trains to London take less than two hours.

Wakefield has a lot to offer for all ages such as The Hepworth Wakefield, Yorkshire Sculpture Park, National Coal Mining Museum for England, National Trust Nostell, Pontefract Castle. Other adventurous activities include windsurfing across the lake at Pugneys Country Park, Gravity Trampoline Park or the snow slopes at Snozone.

For outdoor enthusiasts there are 69 managed parks and wildlife areas in the district, perfect for cycling, walking and wildlife spotting. In 2017 Wakefield was ranked as the tenth-fastest growing city economy in the UK. Part of the success is credited to the city’s location, with excellent transport links, ongoing regeneration and popular tourist attractions. A push to further develop the education sector is expected to bring further boost to the city.

Brunswick Street,

Wakefield,

West Yorkshire,

England,

WF1 4PW

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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.

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