Opportunity to purchase 3 HMO properties with FH with the potential to generate a 15.6% gross yield
£600,000
3-unit HMO Portfolio
VES-CH44-005
INITIAL INVESTMENT
£190,500
Based on
deposit: £150,000
stamp duty: £38,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£93,600
GROSS YIELD
15.6%
The property
TENANCY
Tenanted
TENURE
Freehold
15 bedrooms
15 bathrooms
3 reception rooms
4,200
Unfurnished
Portfolio information
- Bespoke development completed in 2021 of former semi-detached commercial end of terrace house and separate 2-storey commercial warehouse into 3 large HMO apartments
- C3 planning obtained for residential conversion and each unit has been let for 1+ year under AST to establish permitted development rights for C4
- 2 units recently vacated with remaining still tenanted. All services ready to install remaining 5 ensuites to complete 15 bedroom all ensuite HMO spread across 3 properties on the same site
Property information
House - currently vacant
- Designed to full HMO compliance standards
- 4 good size double bedrooms on 1st floor all with ensuite shower rooms
- 2 large ground floor rooms requiring installation of 2 ensuites (all services ready) to create 5th & 6th bedrooms
- Kitchen/dining/living room
- Well-insulated external walls
- EPC rating C
- Council tax band A
Ground floor flat - currently vacant
- Designed to full HMO compliance standards
- 3 large double bedrooms all with ensuite shower rooms
- 1 large living room requiring installation of 1 ensuite to create 4th bedroom (all services ready)
- Large central open plan kitchen/dining/living room
- Well-insulated floor and all external walls
- EPC rating C
- Council tax band A
First floor flat - currently tenanted
- Designed to full HMO compliance standards
- 3 large double bedrooms all with ensuite shower rooms
- 1 large living room requiring installation of 1 ensuite to create 4th bedroom (all services ready)
- 1 other good sized study bedroom and store room requiring installation of 1 ensuite to create 4th bedroom (all services ready)
- Large kitchen/dining room with vaulted ceiling
- Well-insulated roof and insulated external walls
- EPC rating C
- Council tax band A
Refurbishment information
Works designed and supervised by chartered building surveyors
House
- Bespoke conversion from former commercial shop unit and flat above creating a 6-bed HMO with large rooms throughout
- External wall insulation plus loft insulation
- Full electrical re-wire and plumbing throughout
- New efficient system boiler, mains pressure hot water cylinder, and radiators to all areas
- Fire doors throughout, ironmongery, architraves, skirtings
- Smoke and heat detection throughout
- Emergency lighting and corridor lighting on PIR
- Composite front door and upvc windows
- Full decorations
- Flooring to all areas
- External decorations and maintenance repairs carried including gutters
Ground floor and first floor flats
- Bespoke conversion from former garage to create two large apartments
- New natural slate roof and rainwater goods, external decorations, and repairs
- Highly insulated throughout
- Full electrical re-wire and plumbing
- New efficient system boilers, mains pressure hot water cylinders, and radiators
- Fire doors throughout, ironmongery, architraves, skirtings
- Smoke and heat detection throughout
- Emergency lighting and corridor lighting on PIR
- Composite front doors and new upvc windows
- Full decorations
- New flooring to all areas
Service yard with large gates between the properties
Hardstanding amenity areas, storage areas, and shared bin store area
Rental information
- Following the installation of the last 5 ensuite shower rooms each room is expected to be let for £120 per week
- Monthly rental income: £7,800
- Annual rental income: £93,600
Running costs
- Individual gas and water supplies to each of the three units
- 3-phase electricity supply serving the development with individual distribution to each apartment
- All properties are highly insulated with efficient heating and hot water systems
- Expected running costs:
- Council tax: £114.03 pcm x 3 properties
- Gas: £225 pcm (highly insulated, efficient system boiler)
- Electric: £225 pcm
- Water: £30 pcm x 3 properties
- Broadband: £30 pcm x 3 properties
- Total cost per month: £972.09
- Total cost per annum: £11,665.08
Compliance information
- Full building regulations certificate for all completed works.
- Certified new electrical installations and 5-year certificates
- Electrical certification including fire detection and emergency lighting
- Gas installation and test certificates
- Guarantees for new boilers and hot water cylinders
- High ‘C’ rated EPC for each unit
- All asbestos located and removed, with removal certification
- Fire risk assessments to all areas – all minor matters addressed
Location information
- Off Poulton Road, Wallasey
- 5 minutes walk to Liscard shopping centre
- Bus routes very close, Birkenhead North / Birkenhead Park train stations 1.2miles
- Easy road access to Liverpool tunnels and motorway
Note
Please note that Vesta has not visited the properties 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 Wallasey, Merseyside
Wallasey is a town in Merseyside on the mouth of the River Mersey and adjoining the Irish Sea. It lies around 6 miles west of Liverpool and 4 miles north of Birkenhead.
Wallasey comprises of 6 distinct districts and doesn’t have a single Wallasey town centre. The districts are Egremont, Liscard, New Brighton, Poulton, Seacombe and Wallasey Village.
There are a number of important road links such as the Kingsway Tunnel which links Wallasey with the centre of Liverpool and the M53 motorway with begins in Poulton and goes to Chester and the M56 motorway, continuing on to Manchester Airport.
There are three railway stations, Wallasey Village, Wallasey Grove Road and New Brighton. Trains to Liverpool and Birkenhead depart regularly here. A change at Birkenhead North provides access to West Kirby, Liverpool city centre and routes towards Chester and Ellesmere Port.
In the centre of Wallasey is the Cherry Tree Shopping Centre offering several popular high street brands whilst outside of Wallasey is a retail park and a large supermarket in nearby Bidston. Wallasey village and Liscard offer a variety of shops and independent stores including florists, pet shops, arts and crafts shops and others.
Sport activities are provided by the Guinea Gap Recreation Centre which includes a gym, swimming pools, sauna facilities and more as well as Wallasey Golf Club. Ladies only fitness is provided at Hearts Ladies Health Club.
For outdoor lovers Central Park in Wallasey offers three formal gardens, large open spaces, nature ponds, a lake a visitor’s centre, children’s playground and sports facilities for bowls, cricket and basketball. Wallasey beach is also popular with dog walkers, kitesurfers and explorers.
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