MapProperty for sale
Key information
Features and description
- Tenure: Freehold
- High Yielding HMO (House in Multiple Occupation) Portfolio
- Secure Avenue for Income and Growth
- Immediate Income with all 31 Rooms Fully Occupied until July 2024
- Annual Rental Income £173,855.00
- 7.5% Gross Return
- Eight Separate Properties
- Strategically Situated in High demand, Sought after Student Areas
- Tenancies In Place For Next Academic Year
We are pleased to offer to auction this large private portfolio of eight, individual Licensed HMO (House in Multiple Occupation) properties located with in the high-demand, sought-after student area of St Johns WR2.
Each property has its own separate, non-transferable, 5 year HMO license in place.
Being offered fully tenanted the portfolio is drawing an income of - £173,855pa/£15,805pcm.
With tenants lined up for the next academical year, the property offers a turn key investment for any potential investor and will see the income rise to £179,850pa/£16,350pcm
Please note we have not inspected this property.
Rooms
Location
Worcester City, situated on the east side of the River Severn, offers road links to Birmingham in the north and Cheltenham and Bristol to the south via the M5. The A422 & A44 takes you east to Stratford Upon Avon and the vale of Evesham respectively. The bridge across the river heads west towards the suburb of St Johns, a prime area for property investment served by Worcester University. Alternative travel is offered by way of Crowngate Bus Station and Foregate Street railway station in the city centre. Worcester’s main High Street is supported by major brand retailers blended with traditional specialist shops to provide a comprehensive range of services. For leisure and entertainment there is a wide choice of pubs, restaurants, live music venues, night clubs and cinemas. In addition the river and canal water ways, Swan Theatre and Cathedral offer further opportunity for rest and relaxat...
Accommodation & Rental Income
The portfolio comprises:
72 Oldbury Road, 4 bedroom semi - £2045.00pcm,
74 Oldbury Road, 4 bedroom semi - £2060.00pcm,
76 Oldbury Road, 4 bedroom semi - £1975.00pcm,
167 Oldbury Road, 3 bedroom mid-terrace - £1625.00pcm,
1 Comer Gardens, 4 bedroom detached - £1950.00pcm,
72 Blenheim Road, 4 bedroom semi - £2045.00pcm,
41 Blenheim Road, 4 bedroom semi - £2045.00pcm,
14 Henwick Avenue, 4 bedroom mid-terrace - £2060.00pcm.
Combined total income per month - £15,805.00
Combine total annual income - £173,855.00.
Total Lettable Bedrooms - 31 and are fully let.
All tenancies are individual, 11 month HMO AST's starting 1st September 2023 to 31st July 2024.
Tenure
All freehold. Title numbers: HW40087, HW39456, HW138524, HW9198, HW157188, HW55134, WR38422 & HW99845.
EPC
72 Oldbury Road - Rating C.
74 Oldbury Road - Rating C.
76 Oldbury Road - Rating E.
167 Oldbury Road - Rating D.
1 Comer Gardens - Rating E.
72 Blenheim Road - Rating D.
41 Blenheim Road - Rating C.
14 Henwick Avenue - Rating E.
Council Tax
72 Oldbury Road - C.
74 Oldbury Road - C.
76 Oldbury Road - C.
167 Oldbury Road - B.
1 Comer Gardens - C.
72 Blenheim Road - C.
41 Blenheim Road - C.
14 Henwick Avenue - B.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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