Opportunity to purchase a HMO property in Woking generating £52,980 rent pa & gross yield of 9.9%
£535,000
HMO Terraced House
VES-GU22-001
INITIAL INVESTMENT
£169,050
Based on
deposit: £133,750
stamp duty: £32,800
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£52,980
GROSS YIELD
9.9%
The property
TENANCY
Tenanted
TENURE
Leasehold
6 bedrooms
4 bathrooms
1 reception room
1,410
Fully Furnished
Please note that this property is part of a portfolio listing. The vendor may consider selling the units individually.
Property information
- Fully licenced HMO
- The property is three storey and comprises:
- 6 x bedrooms
- 2 bedrooms have ensuite shower rooms
- 4 tenants have the use of 2 shared bathrooms
- Sunny patio
- Shared kitchen/diner
- Shared lounge
- EPC rating C
- Council tax band D
- Parking is available
Leasehold information
The property is held on a long lease from the same freeholder, brief terms as follows:
- Length of lease: 999 years
- Year lease started: 1962
- Years left on lease: 938 years (from 2023)
- Service charge: upon request, in defined circumstances. A single payment of £105 has been sought during current ownership
- Service charge review period: n/a
- Ground rent: £5 pa
- Ground rent review period: none
Rental information
- All rooms are fully let to professional tenants
- Monthly room rental income: £4,415
- Monthly room rental income: £52,980
- Vendor also collects £60 pcm towards the use of the washing machine and tumble dryer
Running costs
The vendor provided us with the following running costs for the property:
- Gas and electric: £222 pcm
- Council tax: £181 pcm
- TV, broadband: £47 pcm
- Water: £59 pcm
- TV licence: £13 pcm
- Cleaner: £60 pcm
- Total monthly cost: £582
- Total annual cost: £6,984
Location information
- The property is located just south of Woking town centre
- The town centre can be reached on foot in under 10 minutes
- Woking railway station is 0.4 miles from the property (7 minutes)
- Extensive sports facilities are available at Woking Park with its swimming pool and Leisure Centre (5 minutes walk), plus the Sportsbox and David Lloyd Leisure Centres (approx. 10 minutes walk)
- Extensive areas of common land and countryside nearby
Local employment and tenant pool
Woking is a vibrant commuter town (fast and frequent trains into London, 26 minutes), with a significant pool of professional tenants, some of whom work in central London and many more who are employed locally; the town has a broad range of major industries and employers, including McLaren Racing / Automotive, WWF, SouthWest Trains, various Healthcare facilities (two hospitals and hospice) with another two major hospitals nearby, Local Government – County and Borough offices, Consulting firms including Cap Gemini, various Oil & Gas consultants and several professional services firms, Construction – Balfour Beatty, Taylor Wimpey and others (extensive construction in progress, with more planned), plus extensive retail, hospitality and entertainment companies.
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 Woking, Surrey
Woking is a town in the northwest of the county of Surrey, it is 5.4 miles north of Guildford and 23 miles southwest of Charing Cross Station. Woking is less than 10 minutes from the M25 motorway and excellent airport access to Heathrow (25 minutes) and Gatwick (45 minutes).
This area is served by Woking railway station which lies on the South Western Main Line and provides links to the city of London for many commuters. There are 14 trains per hour to London Waterloo some via Clapham junction and fast train services to Waterloo taking only a mere 25 minutes, making Woking one of the very best London commuter towns. Routes are also run from this station down the Portsmouth Direct Line via Guildford to Portsmouth and other destinations such as Winchester, Weymouth and Exeter. RailAir bus services also run two buses per hour from this station, providing a link to Heathrow Airport in around 50 minutes.
Woking town centre is home to various attractions and public art such as the Martian tripod and the Hawker Hunter. Woking town centre is home to The Peacocks which is a modern multi-storey shopping and leisure complex, that is equipped with a 1200-seat theatre, three cinemas, nightclub and a library. Between the Peacocks, Wolsey Place and the surrounding area which makes up a shopping hub where there are over 170 retail stores where you could find everything you need and more. This town centre has a plethora of restaurants serving cuisines from across the globe, as well as several bars and pubs. The Lightbox is a public gallery and heritage centre that hosts three exhibitions at a time as well as a display of local history known as ‘Woking’s Story’. This property is a short walk (less than 5 minutes) from a major leisure centre and park offering swimming, gymnastics, football, tennis and a gym.
As this property is close to Greater London and has quick transport routes to the City of London there are thousands of job opportunities that one could take advantage of by commuting from Woking.
This area could be ideal for young families looking for schooling options for their children in the local area. There are two mixed-sex primary schools that are both under a 20-minute walk away, which are Greenfield School and Barnsbury Primary School. For those looking for secondary school education there is Hoe Valley School which is also mixed and includes a sixth form also.
Fairview Avenue,
Woking,
Surrey,
England,
GU22 7NU
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