Newly Refurbished HMO 10% Yield

Goadsby Commercial present elevated site. Conveniently located for student hub and business district. Complete refurbishment programme in current ownership. South facing rear garden. Off road forecourt parking. Flexible purchasing terms. Ideal letting investment or home and income. Rent–back scheme available offering a minimum guaranteed income of £49,000 per annum over a 5 year term. Also suiting Guest House use. Share purchase option available reducing stamp duty liability.

SUMMARY OF ACCOMMODATION
11 Letting Rooms (4 en-suite). Communal Dining Room/Kitchen. 2 Communal Shower Rooms with WC. 1 Communal WC.

LOCATION
Travel Interchange approx. 0.5 miles. Boscombe Shopping thoroughfare just over 0.5 miles. Bournemouth Business District approx. 0.5 miles. East Cliff – Cliff Top approx. 0.75 miles. Lansdowne College Campus approx. 0.8 miles. Bournemouth Town Centre approx. 1.5 miles.

TRADING & BUSINESS

The rent roll as at 17th June 2020 was:

Room 1             £160 per week                     Room 5           £150 per week                       Room 9               £110 per week 

Room 2             £180 per week                     Room 6           £110 per week                       Room 10             £110 per week

Room 3             £195 per week                     Room 7           £120 per week                       Room 11             £110 per week

Room 4             £170 per week                     Room 8           £150 per week                       TOTAL                £1,565 PER WEEK

LICENCES/PERMISSIONS
We understand that a current HMO licence is held.

PRICE
£795,000.

The property is also available by way of a transfer of shares, with any multiple of the 100 shares issued being available. The limited company is subject to an existing £510,000 mortgage at a 5 year fixed rate of 4% which we understand would be available to a future purchaser thus requiring a cash input of £285,000.