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For Sale 6 Bed, 6 bath Fully Licensed HMO In Middlesbrough with ultimate returns of 40.51%!

Price: £120000
Views 63672
31.03.2025
Owner
Price: £120000 -31.03.2025
Views 63672

Bids:
Views 63672
31.03.2025
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Details

The Property, , ALL OUR PROPERTIES WILL BE ELIGIBLE FOR THE GOVERNMENT ENERGY CAP SCHEME, , A sought-after area with easy access to the University, local amenities and the town centre. Only a 17 minute walk to the University campus and the Student Union bars. Teesside University has over 20,000 students, has a lively student community and the town centre is just a 15 minute walk away., Spacious enough to enable a 5-bedroom multi let: all with double rooms and 4 bathrooms plus a spacious living room & communal kitchen., , CHOOSE MIDDLESBROUGH: GREAT VALUE FOR MONEY: EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS, , , Excellent road and rail connections to Darlington, Newcastle, York, Leeds and Manchester – and direct connection to London., , Almost 100% superfast broadband coverage and 5G coverage imminent., , Recently overhauled Victoria Square and Central Gardens form the largest civic space in Europe., , Significant investment in the area including £160m improvements to the Transporter Bridge and development of a digital hub/Boho Zone where global companies such as Double Eleven and Big Bite are now based, £0.5m investment in retail & leisure, £21m investment in new Sports Village and Velodrome and £12m city centre hotel investment., , Benefits from a large commuter area with over 24,000 people travelling in from surrounding areas each day., , 2 leading education institutions located in the heart of Middlesbrough, with Teesside University investing £275m in their town centre campus, and a further £300m planned over the next 5 years., , Population of around 139,000 people and a further 700,000 regular visitors from surrounding areas., , Just over 21,000 students attend Teesside University, , There is also a large campus for the prestigious Durham University based on in Stockton-on-Tees, , THE FINISHED PRODUCT, , New inspire landlord thermostatic system fitted to control the usage of the properties central heating which will help with the significant rise in energy prices and keep the bills affordable for the landlord. Savings can be up to £1000 a year., , Will be refurbished to the highest standard and contain all the necessities for student life within the furniture pack plus WIFI, bike storage etc., , All rooms will be rented at £110 (ensuite) per person per week., , Will be supplied, fully regulated and compliant with the local council and passed for university accommodation approval on completion of the building work with all necessary approvals., , Will be completed including University required extras such as full fire safety accreditation. This comprises of interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors., , , Harrison Street - Financial Breakdown – 6 Bedroom – 6 Bathrooms, Purchase Price: £120,000.00, Deposit: £36,210.00 (including 6 months interest for the bridging loan), Conversion/Build: £70,375.32* approx. (subject to further onsite visits), Set up costs/ Design & Build Fees - £14,750.00, Legals Estimate - £1,400.00, Stamp duty - £3,600.00, Survey - £650.00, Furniture and flooring packs can be purchased at an additional cost - £11,522.01., Total Project Cost: £222,297.33, Total Cash Outlay: £138,507.33, Projected Rental Income: £115.00 PPPW net of bills (water, gas, electricity) = £35,880.00, Management: £5,428.80 including VAT- (10% fully managed), NET RETURN ON INVESTMENT AFTER REFINANCE: 40.51%, BASED ON A REFINANCE VALUATION OF £225,000.00 WE CAN RELEASE APPROXIMATELY £180,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £48,507.33 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £19,651.20 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 40.51%.

Seller

Vicki

Owner

On website since. 2024

Price: £120000

London, Barking and Dagenham

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