Terraced house for sale in Park Road, Northville, Bristol BS7

Overview

Excellent 5 Bed HMO for Sale in Northville, Filton, Bristol

Park Road:
Park Road, is number 4 of 4 HMO's currently for sale by the vendor. The property is currently in use as a 5 bedroom HMO being let to working professionals. The property is fully let and benefits from strong rental demand. Whilst a preference to sell all 4 properties within the portfolio / spv, the vendor is will consider selling each property individually.

Alternative Use:
Given the location and nature of the property, it would be an excellent family home, with its good locality, access to shops, recreation space, schools and proximity to Filton / Patchway employment area. To note, any purchaser would be responsible for arranging for the decanting of tenants post completion of a sale.

Summary of Accommodation
Licenced 5 bed HMO in Northville, Filton, Bristol, South Glos. The property is in an Article 4 Area, and provides 5 double bedrooms. The property is well finished, provides 2 bathrooms (being shower rooms with toilets) and benefits from a Certificate of Lawful Development and Licence for use as a HMO.

Location:
Northville, Filton, 5 miles North of Bristol, is a key employment hub hosting major aerospace companies and uwe's main campus. It features strong infrastructure including The Mall at Cribbs Causeway and Filton Abbey Wood station ensuring easy city centre access and beyond.

Rental Income:
Gross rental income is £43,620 pa, with potential for reversionary rental income of £46,020 pa.
The property is currently managed by an external agent at 11.5% +VAT management and lettings fee. The agent has advised on potential rent increases which can be implemented on an iterative basis as and when tenants vacate.

Asking Price:
£455,000

Yield:
9.5%, with a reversionary yield of 10.02%

Monthly Bills:
C.£524 pcm or £105 per room pcm

Planning - Licencing
HMO Licences and Certificates of Lawful Development are in place and available on request.

Other Material Information:
Tenure: Freehold
Local Authority: South Gloucestershire Council
HMO Licence: Yes - 5 persons
Article 4 Area: Yes - Certificate of Lawful Development
EPC: C - Potential to improve to B
Council Tax Band: B
Services: We understand all services to be connected
Heating: Gas Central Heating
Internet: High Speed Broadband / Wifi
Mobile Phone: Coverage for EE, 02, Vodaphone and Three

Portfolio Sale:
Park Road is number 4 of 4 HMO's being marketed as part of a portfolio sale for a total of £1.75m
- HMO 1: Whiteway Close, St George, Bristol - 6 bed, 5 bath HMO
- HMO 2: Cassell Road, Fishponds, Bristol - 5 bed, 2 bath HMO
- HMO 3: Charles Road, Filton, Bristol - 4 bed, 2 bath HMO
- HMO 4: Park Road, Filton, Bristol - 5 bed, 2 bath HMO

Portfolio Details:
- Ready Made HMO Portfolio
- 4 x Properties consisting of 20 rooms
- Fully let and income producing
- Current income £166,500 pa
- Reversionary income £175,925 pa
- All properties are held within a spv
- Located in strong rental areas throughout Bristol
- Scope to increase rents
- Scope to increase lettable space

Offers invited at £1,750,000 at a Gross Yield (ary) of 9.5% (Reversionary Yield at 10.02%)

Portfolio Particulars:
Full particulars can for the portfolio be downloaded or available upon request.

Viewings:
As an Investment Property/Portfolio, viewings will only be granted to proceedable and qualified investor/purchasers. Therefore, any person wishing to view the property/ies will be required to provide I.D. And Proof of Funds in line with aml regulations prior to viewings.

Legal Costs:
Each side to be responsible for own legal costs

Buyers Fees:
As a broker and investors agent, buying / sourcing fees apply to the purchase of the property and are to be paid on completion. Please discuss with the agent.
Council tax band: B

Bedroom 1

Bedroom 1 is situation at the front of the house on the ground floor. The room is a generous size at 14.8 sq.m and provides for a double bed, desk and wardrobe. The room is airy and receives good natural light.

Bedroom 2

Bedroom 2 is located at the rear of the house on the ground floor. Generous in proportions measuring at 14.8 sq.m, the room easily accommodates a large double bed, wardrobe and desk, with an additional benefit of direct access to the rear garden by way of french doors. The ground floor bathroom is located directly adjacent to the room.

Bedroom 3

Bedroom 3 located on the first flood is modest in size and provides for a single bed, alongside storage space for clothing. The room receives good natural light.

Bedroom 4

Bedroom 4 is situated at the front of the house on the first floor and is generous in size, being 10.5 sq.m and have ample space for a large double bed, desk, wardrobe and storage.

Bedroom 5

Bedroom 5 is located on the first floor, and sits to the rear of the property providing views into the rear garden and beyond. The room provides for a large double bed, storage and a desk

Kitchen

The kitchen is located on the ground floor, to the rear of the property and can be accessed from the main hallway. The owner has installed a large, modern galley kitchen, which provides full facilities required for the properties use and tenant numbers. The kitchen leads into a conservatory and the spacious rear patio and garden combining to provide for generous communal spaces for socialising.

Conservatory

The property benefits from a conservatory to the rear of the property, providing additional communal space for tenants.