Worcester, WR1 1JZ | Investment Property for Sale | VES-WR1-001

Opportunity to purchase a HMO property in Worcester generating £75,120 rent pa & gross yield of 10%

£750,000

HMO House & commercial unit

VES-WR1-001

INITIAL INVESTMENT

£225,000

Based on

deposit: £187,500

stamp duty: £35,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£75,120

GROSS YIELD

10.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

10 bedrooms

10 bathrooms

1 reception room

2,591

Fully Furnished

Property information

  • Terraced block containing:
    • Commercial unit on the ground floor
    • HMO on the first and second floor
  • Fully licenced HMO for 10 occupants in 10 bedrooms
  • The property has been fully refurbished
  • Each bedroom has its own ensuite bathroom
  • Shared kitchen on the lower ground floor
  • Shared living room on the first floor
  • EPC rating C
  • The property is fully managed by a third party

Rental information

  • Room 1 - £550 pcm
  • Room 2 - £550 pcm
  • Room 3 - £550 pcm
  • Room 4 - £550 pcm
  • Room 5 - £595 pcm
  • Room 6 - £595 pcm
  • Room 7 - £550 pcm
  • Room 8 - £550 pcm
  • Room 9 - £550 pcm
  • Room 10- - £595 pcm
  • Commercial unit - £625 pcm - currently vacanct
  • Total rent pcm: £6,260
  • Total rent pa: £75,120

Running costs

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

  • Council tax: £121 pcm
  • Gas: £225 pcm
  • Water: £55 pcm
  • Electric: £200 pcm
  • Broadband: £33 pcm
  • Insurance: £76 pcm
  • Total cost pcm: £710
  • Total cost pa: £8,520

Location information

  • The property is in a great location less than 10-minute walk from the city centre
  • Many amenities and shops on the doorstep
  • Worcester Foregate Street railway station is half a mile from the property

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 Worcester, Worcestershire

Worcester is a cathedral city and the county town of Worcestershire in the West Midlands. It lies around 30 miles south-west of Birmingham, 27 miles north of Gloucester and 23 miles north-east of Hereford.

Worcester is ideally located with the M5 motorway running past to the east of the city. The M5 connects Worcester to most of the country as well as London, which is only 118 miles away. A number of A-roads also pass through Worcester connecting it to Malvern, Kidderminster, Evesham, Leominster, Aberystwyth, Tewkesbury, Gloucester, as well as Droitwich, Bromsgrove and Birmingham.

There are three railway stations serving the city, Worcester Foregate Street and Worcester Shrub Hill, which are both located in the city centre, as well as Worcestershire Parkway, which is on the edge of the city. West Midlands Trains from Worcester Foregate Street and Shrub Hill run to Birmingham New Street or Birmingham Snow Hill, whilst Great Western operate services to London Paddington via the Cotswold Line and Oxford, Bristol Temple Meads via Gloucester through to Westbury and Weymouth, and a service to Southampton Central and Brighton. Trains from Worcester Parkway run to London Paddington via Oxford, Great Malvern and Hereford, as well as Cardiff Central via Gloucester and Nottingham via Birmingham New Street.

The closest major airport is Birmingham, which can be reached by train or road.

Worcester cathedral, which dates to 1084, is the city’s most famous landmark. Other landmarks include parts of the remaining city wall, the Hive, a joint public and university library and archive centre. Other places to visit are the Museum of Royal Worcester, Greyfriars’ House and Garden, Tudor House Museum and Worcester City Art Gallery & Museum. The city’s green spaces include Cripplegate Park, Gheluvelt Park and Fort Royal Park as well as Pitchcroft, a public space except on days when it is used for horse racing.

Worcester is also home of Royal Worcester Porcelain, the composer Edward Elgar, Lea & Perrins, the most picturesque cricket ground in the country and Berrow’s Worcester Journal claimed as the world’s oldest newspaper.

There are three main shopping centres in the city centre, CrownGate Shopping Centre, Cathedral Plaza and Reindeer Court. The Hight Street also offers plenty of shops including independent boutiques.

Education is provided by a number of high schools and independent schools, two colleges and University of Worcester, a public research university.

Upper Tything,

Worcester,

Worcestershire,

England,

WR1 1JZ

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