Bootham Crescent, York

A substantial former guest house occupying a prominent position on Bootham Crescent, offering an outstanding investment opportunity as an established HMO asset in one of York’s most consistently in demand rental locations.

This attractive Victorian brick built terrace dates back to circa 1890 and has a strong history of use as both a bed and breakfast and, more recently, a successful house in multiple occupation. The property has been fully operational as an HMO since January 2022, with minimal void periods and consistent occupancy by professional tenants, including graduates and employed individuals, all fully referenced through a managed letting agency.

Planning permission has been granted for change of use from a bed and breakfast to a small HMO, currently configured as six bedrooms. A further approved application allows extension to a seven bedroom HMO subject to a minor bathroom alteration, with clear potential to increase to an eight bedroom HMO subject to the necessary planning consent and internal adjustments.

The current layout provides six well proportioned bedrooms with ensuite facilities, alongside communal areas including a large shared bathroom and additional shower room, supporting comfortable multi occupancy living. The property is well suited to continued HMO operation and offers scope for income enhancement through the approved and potential additional bedroom configurations.

The property currently generates a gross rental income of approximately £55,800 per annum at full six bedroom occupancy, with projected income increasing to around £64,200 per annum once the approved seventh bedroom is implemented, reflecting a strong gross yield for the area.

Ideally located close to York city centre, York St John University, the railway station and major employment hubs, the property benefits from strong and sustained tenant demand. On street permit parking is available within the surrounding area.

Anti-Money Laundering Compliance - We are legally required to conduct Anti Money Laundering checks on all purchasers, sellers, and giftors. These checks become mandatory when a seller accepts a purchaser's offer on a property. Anti-Money Laundering checks are valid for 6 months from the date they are completed. If your purchase does not proceed and you make an offer on another property more than 6 months later, or if your checks are more than 6 months old when making a new offer, you will need to complete and pay for new checks. We use a partner supplier MoveButler, to carry out these checks on our behalf. They will contact you directly once your offer has been accepted (subject to contract) to complete the electronic verification process securely. There is a non-refundable charge of £30 + VAT per purchaser and per giftor for these checks.. This fee must be paid before we can issue a memorandum of sale to solicitors and is non-refundable under any circumstances. Ashtons receive a portion of this fee from MoveButler as compensation for facilitating these checks and our administrative role in the compliance process.