29 Park Road, Bristol

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 £42,420 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:

£440,000

Yield:

9.64%, with a reversionary yield of 10.46%

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 £1.775m

- 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 £165,360 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 £1,775,000 at a Gross Yield (ARY) of 9.32% (Reversionary Yield at 9.91%)

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.