Park Road, Rugby, Warwickshire, CV21

A fantastic opportunity for buy to let investors. This substantial town house, located in a popular residential area, extends to 1,509 Sq.' (140 Sqm.) and has been converted into a 6 bedroom HMO, that is currently let with a GUARANTEED income until the 26th of September 20230. The property was subject to an £80,000 refurbishment program, circa 2020, to provide the six bedrooms, five shower rooms (four en-suite), and a 24'8" x 10'8" kitchen/dining room. The property also has a low maintenance rear garden and a double garage.

Current Tenancy Agreement

The property is currently let on an AASC agreement between the current owner and Serco Ltd, a multi-million pound company that is contracted by the Government to provide accommodation for asylum seekers. The contract provides a PCM income of £2,193.10 (£26,317 PA) that is guaranteed until the 26th September 2030.

A very important feature of this contract is that the Landlord has NO BILLS and NO MAINTENANCE COSTS with respect to his property. These are all covered by Serco Ltd., as per the terms of the AASC contract. We have estimated that this confers an additional benefit to the Landlord of approximately £11,000. In addition, the Landlord has chosen not to appoint a managing agent, saving an additional £4,478 (10% + VAT) when compared to a similar managed HMO being run as individual room lets.

Overall, we feel that this property offers a fantastic investment opportunity requiring little involvement and no expense to the Landlord. Please contact the office if you have any additional questions regarding the AASC contract.

In more detail the accommodation comprises:

ENTRANCE HALL:

Original Tiled Flooring.
Single Panel radiator.
Wall mounted fuse board
Wall mounted fire alarm panel.
Doors to all ground floor accommodation.

BEDROOM ONE: 14'1" x 11'11" (4.29m x 3.63m)

Square bay to front aspect.
Single panel radiator.

BEDROOM TWO: 10'9" x 10'3" (3.28m x 3.12m)

Window to rear aspect.
Single panel radiator.

GROUND FLOOR SHOWER ROOM: 7'0" x 4'6" (2.13m x 1.37m)

Fully tiled shower room.
Low flush WC
Pedestal wash basin
Quadrant shower cubicle with thermostatic shower.
Chrome, ladder style, towel rail.

KITCHEN / DINING ROOM: 24'8" x 10'8" (7.52m x 3.25m )

Extensive range of base and wall mounted cabinets.
Extensive work surface area with tiled upstands.
Double bowl sink unit.
Plumbing for automatic washing machine.
Space for Tumble dryer.
Space for fridge freezer.
Range oven with cooker hood over
uPVC double glazed window to the side aspect.
uPVC double glazed sliding patio door to the rear garden.

FIRST FLOOR LANDING:

Doors leading to all first floor accommodation.
Staircase leading to the second floor.

BEDROOM THREE DRESSING AREA: 9'11" x 4'9" (3.02m x 1.45m)

Double panel radiator.
Door to ensuite shower room.
Archway to:

BEDROOM THREE: 15'11" x 14'1" max (4.85m x 4.29m max)

Square bay window to the front aspect.
Double panel radiator.
Fitted wardrobes

ENSUITE SHOWER ROOM: 6'0" x 5'3" (1.83m x 1.60m)

Fully tiled shower room.
Low flush WC
Pedestal wash basin
Quadrant shower cubicle with thermostatic shower.
Chrome, ladder style, towel rail.
Frosted uPVC double glazed window to the rear aspect.

BEDROOM FOUR: 12'1" x 7'0" (3.68m x 2.13m)

Window to the side aspect.
Double panel radiator.
Door to:

ENSUITE SHOWER ROOM: 7'0" x 5'1" (2.13m x 1.55m)

Fully tiled shower room.
Low flush WC
Pedestal wash basin
Quadrant shower cubicle with thermostatic shower.
Chrome, ladder style, towel rail.

BEDROOM FIVE: 10'8" x 9'11" plus hallway (3.25m x 3.02m plus hallway)

uPVC double glazed window to the rear aspect.
Double panel radiator.
Door to:

ENSUITE SHOWER ROOM: 7'0" x 5'1" (2.13m x 1.55m)

Fully tiled shower room.
Low flush WC
Pedestal wash basin
Quadrant shower cubicle with thermostatic shower.
Chrome, ladder style, towel rail.
Frosted uPVC double glazed window to the side aspect.

SECOND FLOOR LANDING:

Door to:

BEDROOM SIX: 11'6" x 9'3" plus large window recess (3.51m x 2.82m plus large window recess)

Double glazed Velux style window.
uPVC double glazed dormer window to the front aspect.
Double panel radiator.
Door to:

ENSUITE SHOWER ROOM: 7'6" x 4'5" (2.29m x 1.35m)

Fully tiled shower room.
Low flush WC
Pedestal wash basin
Quadrant shower cubicle with thermostatic shower.
Chrome, ladder style, towel rail.

OUTSIDE:

FRONT GARDEN:

There is a small fore garden, enclosed by a low, blue brick wall set with capping stones.

REAR GARDEN:

A low maintenance rear garden, enclosed by walling, and with a pedestrian door leading to the:

GARAGE: 19'0" x 18'6" (5.79m x 5.64m)

LOCATION:-

Park Road is a very popular residential location within easy walking distance of Rugby Town Centre, and with Rugby railway station only about a 1/3 of a mile away.

Rugby's retail parks 'Elliots Field' and 'Junction 1' are only a short distance from Park Road. These modern, easy-to-reach shopping parks contain many flagship retail stores such as Debenhams, Marks and Spencer, Next, Nike and DFS to name just a few. There are also coffee shops, restaurants and not to forget the free parking. There are many excellent private and public schools with Rugby School being the most famous. Leisure amenities are plentiful, including the Queen's Diamond Jubilee Sports Centre, a multiplex cinema, a theatre, and many pubs and restaurants.

Rugby's train station is served by London Midland and Avanti West Coast. Rugby to London Euston is less than 50 minutes by fast train and Birmingham is only 20 minutes. Rugby is also located centrally to a host of major road networks M1, M6, M40, A45, A5 and A14. This is just one of the reasons why Rugby has become extremely popular with many commuters.

Local Authority
Rugby Borough Council.
Telephone .
Council tax band: C - currently £1,925.00

Mortgage Advice:

IF YOU WOULD LIKE A FREE MORTGAGE CONSULTATION, PLEASE ASK TO SEE OUR IN-HOUSE MORTGAGE SPECIALISTS.

General Information:

TENURE: The property is freehold.

SERVICES: All mains services are connected or available but not tested. A telephone line is installed the transfer of which is subject to BT regulations. Life Investments have not tested any apparatus, equipment, fittings, etc, or services to this property, so cannot confirm they are in working order or fit for the purpose. A buyer is recommended to obtain confirmation from their Surveyor or Solicitor.

FIXTURES AND FITTINGS: Only those as mentioned in these details will be included in the sale.

MEASUREMENTS: The measurements provided are given as a general guide only and are all approximate.

VIEWING: By prior appointment through the Sole Agents.

ADDITIONAL SERVICES: Do you have a house to sell? Life Investments offer a complete and professional service to home owners throughout Warwickshire. If you are thinking of selling your home, Life Investments offer you a Free Valuation with no obligation whatsoever. Please call us today for details of our service and our competitive fees.
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