3 Whiteway Close, Bristol

Excellent 6 Bed HMO for Sale in St George, Bristol

Whiteway Close:

Whiteway Close, is 1 of 4 HMO's currently for sale by the vendor. The property is currently in use as a 6 bedroom HMO being let to a mixture of working professionals and students. 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 Bristol centre. To note, any purchaser would be responsible for arranging for the decanting of tenants post completion of a sale.

Summary of Accommodation

Licenced 6 bed HMO in St George, Bristol. The Property boasts 5 bathrooms, with 2 of those being ensuite. The property is well finished and benefits from all the facilities required to function as a HMO.

Location:

St George, 2.5 miles east of Bristol's centre, attracts young professionals with its accessibility and community feel. It offers independent shops on Church Road, St George Park for recreation, and efficient public transport, appealing to those seeking urban living with a local touch.

Rental Income:

Currently fully let @ £52,860, with potential for reversionary rental income of £53,760.

The property is full let and 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:

£557,500

Yield:

9.48%, with a reversionary yield of 9.64%

Monthly Bills:

c.£650pcm or £108 per room pcm

Planning - Licencing

A HMO licence is in place and available on request.

Other Material Information:

Tenure: Freehold

Local Authority: Bristol City Council

HMO Licence: Yes - 6 persons

Article 4 Area: No

EPC: D (EPC is in the process of being updated - C rating expected)

Council Tax Band: C

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:

Whiteway Close is 1 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 - Asking Price £557,500

- 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.