Detached house for sale in Forest Road West, Nottingham NG7

10 Bedroom Student HMO Investment Opportunity
Stunning Period Detached Residence of nearly 3,800 SqFt
Annual Income of £76,800 pa (£160 pp pw inc bills) - let for 24/25 Academic year
Fully HMO licensed with historic usage

Introduction FHP Living are delighted to offer this truly outstanding detached Student Investment Opportunity, bursting with period features. The prominently located property on the junction of Forest Road West, Burns St & Southey St is a stone's throw from ntu making it a perfect investment opportunity, acting as the jewel in the crown of any portfolio. This is a unique property and a rare visitor to the market.

Location The Arboretum area of Nottingham is a prime spot for students at Nottingham Trent University, with the main city campus adjoining Historically, it was the Cities first designated park area, featuring a number of listed buildings, an aviary and over 800 trees. Nowadays, it is a tranquil place to relax as well as being used for many functions and festival, you'll always find the park filled with students on a summers day.

The property The stunning detached residence has an enchanting Gothic aesthetic, with a host of original features such as high ceilings, original corniches, tiling & fire places. The property has been lovingly operated as a 10 bedroom Student HMO for a significant period of time, with current ownership dating back to 2010. The house is just under 3,800 SqFt offering 10 double bedrooms, 4 showers and 6 toilets, 2 large open plan kitchen, living and dining rooms, laundry room and a welcoming entrance hall.
The large plot and gated access allows room for a significant number of cars, with a relatively low maintenance garden.

Investment summary The property has a longstanding use as a 10 bedroom Student HMO and is currently let for the 23/24 academic year and is pre-let for the 24/25 academic year.

Next years letting is for £160 pp pw inc bills, over a 48 week period producing a total of £76,800 pa. An allowance of £20 pp pw is allocated towards utilities leaving an income of £67200 producing a net yield of 8%.

The property has recently had its HMO license renewed.