St. Lawrence Road, Devon

This late Victorian HMO, circa 1889, is a substantial and characterful investment property extending to approximately 2,334 sq ft / 217 sq m, arranged over two floors and currently operating as an established six-bedroom HMO.

The property is offered for sale with tenants in situ and currently produces a passing rent of £2,913 per calendar month, equivalent to £34,956 per annum. At the asking price of £285,000, this represents a gross yield of approximately 12.27%.

The accommodation is particularly generous and comprises six letting bedrooms, a communal lounge, separate dining room, kitchen, utility room, two bathrooms, separate WC, entrance porch and useful storage accommodation.

The ground floor extends to approximately 1,222 sq ft / 114 sq m and includes Bedrooms 1 and 2, the communal lounge, dining room, kitchen, utility room and separate WC.

The first floor extends to approximately 1,112 sq ft / 103 sq m and provides Bedrooms 3, 4, 5 and 6 together with two bathrooms and additional storage.

Significant work has recently been undertaken to bring the property up to the current HMO and fire-safety standards and requirements applicable in 2026. This has included new fire doors to the six bedrooms, living room and kitchen, together with fire alarm and emergency lighting works and associated compliance improvements. A comprehensive compliance file is held for the property and can be handed over to the purchaser on completion.

The property is being marketed transparently and prospective purchasers should be aware that further works are required. These include roof repairs, general redecoration, areas of plastering and internal repair, and ongoing treatment or remedial works in areas previously affected by damp and mould. Bathroom flooring and other general maintenance items should also be factored into any future refurbishment programme.

The scale of the property provides further potential for an investor looking to add value. There may be scope to investigate the creation of an additional seventh letting room and/or the introduction of en-suite facilities to selected bedrooms. Any alterations would be subject to the necessary planning, HMO licensing, building regulations and other statutory consents.
Externally, the property benefits from a courtyard and garden together with a driveway and rear carport.

Atlantic Keys currently manages the HMO and can remain in place following completion if required, providing continuity of management for the new owner and existing tenants.

The existing HMO licence does not automatically transfer to a purchaser. The new owner will therefore need to make their own HMO licence application to Plymouth City Council following the purchase. The existing HMO and compliance documentation held for the property can be provided to assist with that process.