- 4 Bedroom HMO Investment +
- C4 status confirmed +
- Current HMO License +
- Previously rented for £107 pp pw exc bills +
- Rental Uplift through Renovations +
- Off Street Parking +
- Golden Triangle of Lenton +
- Walking distance to UofN campus +
- £80,000 per bedroom +
- Sold with Vacant Possession +
DESCRIPTION FHP Student Living are delighted to offer this 4 bedroom student HMO property, with Certificate of Existing Lawful use (C4) approved, in the highly desirable location of Lenton.
Cottesmore Road is part of the fabled 'Golden Triangle' of Lenton, a well established prime location for students at the University of Nottingham. The road is accessed from Derby Road or Ashburnham Avenue. Derby Road leads directly to the main University Park campus as well as the City Centre. Local amenities include a Sainsburys Local, the main high street of Lenton Boulevard and Lenton Recreational Ground. Within a short drive, you have both Castle Marina Retail park & Castle Retail Park
The property itself appears as a 1950s/60s 3 bedroom end terrace that over time has seen its garage converted to a ground floor bedroom. In recent years, the property has been let as a Student HMO to 4 persons and has received a C4 certificate proving its use class. It has a current HMO License but is being sold with vacant possession but was previously let for £127 pp pw inc bills until the Summer of 2023.
The property has 4 double bedrooms, sharing a bathroom, separate WC, a kitchen & open plan living and dining room. The property has a small rear garden along with a driveway for off street parking.
The property is ready for a new investor to conduct renovations along with minor HMO works to be ready for occupancy in Summer 2024
The property is available for an asking price of £320,000
- £80,000 per bedroom
- Income of £21,400 pa (exc bills) at previously rented figure for a 6.5% yield
- Reversionary income of £155 pp pw exc bills post renovations / £31,000 pa
To book you viewing, contact FHP Student Living