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HMO Property Designs - Where Excellence Comes as Standard* 3 Bed HMO Net Returns from 14.01% *
Please see below for full financial breakdown
An exciting Design and Build project in Nelson that will enable a 3-bedroom, 3-bathroom unit with communal kitchen.
THE PROPERTY
Perfectly located just a 5 minute walk to the town centre and local amenities. Nelson Interchange is a 7 minute walk away where you can catch the train or bus to local towns such as Preston, Burnley, Blackburn and Accrington.
Spacious enough to enable a 3-bedroom multi let: all with double rooms and 3 bathrooms and a spacious kitchen.
Nelson is just off junction 13 of the M65 and a 12 minute drive to Burnley and 24 minute drive to Blackburn.
Returns in excess of 14.01%
CHOOSE NELSON : GREAT VALUE FOR MONEY : EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS
Nelson is a busy town just north of Burnley and is home to many large employers such as Buoyant Upholstery, Farmhouse Biscuits, SGL Co-packing, Refreshco and Woodheads Bros Meat Co.
Just a 10 minute train ride to Burnley means it's also a good location for students attending Burnley UCLan.
Lomeshaye Industrial Estate is a well-established and thriving industrial estate in Nelson which houses over 100 businesses.
With our years of experience and a solid track record in student accommodation we are able to recognise that this area offers us the chance to create bespoke, fully licenced, and regulated student properties. Once more offering fantastic prospects and excellent opportunities for high yields.
THE FINISHED PRODUCT
Will be refurbished to the highest standard and contain all the necessities required for comfortable living supplied within the furniture pack plus WIFI, bike storage etc.
All rooms will be rented at £80- £90 (ensuite) per person per week.
Will be supplied, fully regulated and compliant with the local council and passed for university accommodation approval on completion of the building work with all necessary approvals.
Will be completed including University required extras such as full fire safety accreditation. This comprises of interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors.
INVESTMENT OPPORTUNITY
Stott Street Nelson
3 bed, 3 bathroom HMO
with Net returns from 14.01%
10 Stott Street - Financial Breakdown 3 Bedroom 3 Bathrooms
Purchase Price: £50,000.00
Deposit: £12,500.00 - Finance (75% LTV)
Conversion/Build: £39,462* approx. (subject to further onsite visits)
Set up costs/ Design Build Fees inc VAT - £15,000.00
Legals - £1,300.00
Stamp duty - £1,500.00
Survey - £450.00
Furniture and flooring packs can be purchased at an additional cost - £7,261.00 plus VAT
Total Project Cost: £114,973.00
Total Cash outlay: £77,473.00
Rental Income: £90.00 PPPW x 3 net of bills (water, gas, electricity) = £14,040.00
Management: £1,872.00 including VAT- (10% fully managed)
Annual mortgage cost/interest: £1,312.50 approx.
TRUE NET INCOME: £10,855.50 per annum
NET RETURN ON INVESTMENT: 14.01% per annum
BASED ON A REFINANCE VALUATION OF £100,000 WE CAN RELEASE APPROXIMATELY £80,000 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £34,973.00 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £8,736.00 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 24.98%
Do not hesitate in contacting us on 0161 230 3367 if you require any further information on the above deal.
www.hmodesigns.co.uk