8 Bed HMO, Reading, RG1 7XX, £425,000

• Investment Opportunity with gross yield of 8.4%* +
• Licensed HMO for 8 households/9 occupants +
• 8 Rooms; Bathroom with shower; Shower and WC x2 +
• Motion sensor lighting to communal areas; Emergency lighting and fire alarm +
• Tenants have individual electricity coin meters +
• Shared garden; Walking distance to mainline station +

An opportunity to acquire a period townhouse in a town centre conservation area which is a licensed House in Multiple Occupation. The property is being sold as an investment property with tenants on AST's and is licensed for 9 occupants or 8 households and is currently producing a gross annual income of £36,840. The property is ideally positioned for the town centre and both the mainline and Reading West station with local shops and amenities within walking distance.

Garden - There is a lawned garden for shared use with an area of timber decking.

Rental Yield - *The rooms are let with AST's on an individual basis which are now statutory periodic tenancies and the current rental is £3120 pcm which based on the asking price, represents a gross rental yield of 8.8%
Landlord pays for the following:
Council Tax is £2104
Water charge £571.76
Electricity-The cost for the communal areas is approximately £680pa

Additional Information: - Parking
On-street parking requires residents and visitors permits which are issued upon application by Reading Borough Council, charges apply, for an up to date list of charges please check reading.gov.uk "permit charges"

Part B
Property construction – Standard form
Services:
Water – mains
Drainage – mains
Electricity - mains
Heating - electric
Each room has an electric coin meter which the tenants are responsible for paying. The communal washing machine and dryer is key operated, which tenants pay to access. The owner pays for the water, council tax and electricity for the communal areas. RES service and maintain the fire alarm, extinguishers and smoke/heat detectors, and emergency lighting.
Broadband connection available (information obtained from Ofcom):
Ultrafast – Fibre to the premises (FTTP)

Mobile phone coverage
For an indication of specific speeds and supply of broadband and mobile, we recommend potential buyers go to the Ofcom web-site “Broadband and mobile coverage checker”

Part C
It has been noted that there are textured ceilings at the property. Up until 1985, low levels of asbestos were used in Artex. Since the age and type of texture used on the ceilings cannot be verified, the presence of asbestos cannot be confirmed.
The property is located in a conservation area.
The rear garden boundary has been altered and is as seen, a revised boundary plan will be provided by the vendors solicitors.