Opportunity to purchase a HMO property in Wakefield with the potential to generate a net yield of 10.8%
£285,000
HMO Terraced House
VES-WF2-002
INITIAL INVESTMENT
£86,550
Based on
deposit: £71,250
stamp duty: £12,800
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£30,680
GROSS YIELD
10.8%
The property
TENANCY
Vacant
TENURE
Freehold
5 bedrooms
5 bathrooms
2 reception rooms
1,498
Fully Furnished
Property information
- Fully HMO licenced
- The property was fully refurbished, see below for more info
- Works were completed in August 2023
- 5 x bedrooms with ensuite bathrooms
- Bedroom 5 comes with its own lounge
- Shared kitchen
- Shared dining room
- EPC rating D
- Council tax band A
Refurbishment information
- The property was fully refurbished from a 6-bed HMO into a 5-bed HMO with ensuites
- The works included:
- Installation of grade A/D fire alarm system
- Installation of emergency lighting
- Electrical works
- Plumbing works
- New combi boiler
- New bathrooms
- New kitchen
- New flooring throughout
- Redecoration throughout
- All required certifications and approvals
Rental information
The property is advertised to let, the following rents are expected to be achieved once fully let:
- Rates: £118 average per week
- Expected total rent pcm: £ 2,556,67
- Expected total rent pa: £ 30,680
Running costs
The vendor provided the following expected running costs for the property:
- Total cost pcm: £770.44
- Total cost pa: £9,245.30
Location information
- The property is located outside Wakefield town centre
- The town centre is a 12-minute walk from the property
- Wakefield Westgate railway station is 0.6 miles from the property
- There is a local shop a short walk away
- Easy access to the local road network
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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.
Lincoln Street,
Wakefield,
West Yorkshire,
England,
WF2 0EB
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