65 Cassell Road, Bristol

Excellent 5 Bed HMO for Sale in Fishponds, Bristol

Cassell Road:

Cassell Road, is number 2 of 4 HMO's currently for sale by the vendor. The property is currently in use as a 5 bedroom HMO being let to a 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, following reconversion, 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 5 bed HMO in Fishponds, Bristol. The Property boasts 2 bathrooms. The property is well finished and benefits and benefits from all the facilities required for use as a HMO.

Location:

Fishponds, 3 miles northeast of Bristol's centre, balances urban convenience with suburban appeal. It holds strong rental demand and is a popular location among students and young professionals, due to excellent transport links and proximity to UWE campuses.

Rental Income:

Currently fully let @ £40,020 pa, with potential for reversionary rental income of £43,140 pa.

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:

£427,500

Yield:

9.36%, with a reversionary yield of 10.09%

Monthly Bills:

c.£436 pcm or £87 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 - 5 persons

Article 4 Area: No

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:

Cassell Road is number 2 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.