Milton Road, Swindon, Wiltshire
- PROPERTY TYPE
Terraced
- BEDROOMS
10
- BATHROOMS
10
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Strategic Location: Situated adjacent to Faringdon Park and just a short walk from Swindon's bustling city centre and major amenities.
- Exceptional Income Potential: Generates an annual rental income of £81,948, offering a robust gross yield of approximately 11.38%.
- High Tenant Demand: Maintains a 99% occupancy rate, appealing predominantly to working professionals.
- Luxury Accommodations: Features 10 high-standard en-suite rooms, including a studio, each with modern fixtures and neutral decor.
- Substantial Investment: Over £300,000 invested in transforming the property from a former commercial space into a leading HMO.
- Excellent Facilities: Includes two well-equipped kitchens, guaranteed superfast broadband, and off-street parking for two vehicles.
- Seamless Transport Access: Exceptionally well-connected with Swindon Bus and Train Stations nearby, facilitating easy commutes.
- Ready-to-Manage Investment: The property is fully managed, with the option for transitional support to the new owner, ensuring a seamless handover.
Description
Milton Road in Swindon offers a remarkable investment opportunity, featuring a meticulously developed HMO with 10 en-suite bedrooms, including one studio. After purchasing the property in 2018, the current owners invested over £300,000 to transform this former commercial property into a modern, fully compliant HMO. The property boasts two well-equipped kitchens, modern neutral décor throughout, and practical additions like guaranteed superfast broadband and off-street parking for two vehicles.
Income Breakdown (Monthly):
Room 1: £855.00
Room 2: £690.00
Room 3: £735.00
Room 4: £699.00
Room 5: £640.00
Room 6: £700.00
Room 7: £630.00
Room 8: £720.00
Room 9: £575.00
Room 10: £585.00
Total Monthly Income: £6,829.00
Annual Income: £81,948.00
Expenditure Breakdown (Monthly):
Light/Power/Heating/Water: £440.00
Council Tax: £257.00
TV/Media/Internet/Telephone: £81.00
Cleaner: £70.00
Management: £0.00 (not listed)
Total Monthly Expenditure: £848.00
Annual Expenditure: £10,176.00
Net Annual Income: £71,772.00 (calculated as Total Income - Total Expenditure)
Gross Yield: 11.38% (calculated as Annual Income / Asking Price)
The room rates and expenditure figures are based on current data. The property's financial performance indicates a gross yield of 11.38%, reflecting its potential as a valuable investment. This financial summary does not account for potential vacancy periods or additional management costs not listed, which could impact net income and yield calculations.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
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- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Milton Road, Swindon, Wiltshire
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Visit our security centre to find out moreDisclaimer - Property reference XFG-49996925. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by HMO Sales Expert, Bournemouth. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited. **This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.
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