* PLANS PASSED * LARGE HMO OPPORTUNITY * Station Road, Leigh-on-Sea

* £600,000- £650,000 * The current property stands proudly on a popular one way road in Leigh, close to the vibrant bustle of Leigh Broadways array of amenities. Offering 9 bedrooms across two floors currently, planning has now been passed to create an 8 much larger double bedroom HMO across three floors. With an asking price of £650,000 – £700,000 and anticipated room rents averaging approximately £1,000- £1,100 per calendar month, the proposed eight-bedroom HMO presents an attractive potential investment opportunity. Based on eight double bedrooms, the property could generate an illustrative gross rental income of £8,000-£8,800 per month, equivalent to £96,000- £105,600 per annum. This equates to an indicative gross yield of approximately 15% against mid range rents and purchase price, before allowing for conversion costs, void periods, management, maintenance, utilities, insurance, finance and other operating expenses. All rental figures and yields are estimates for illustrative purposes only and are not guaranteed. Actual performance will depend on the completed scheme, lawful occupancy, achievable rents and operating costs.

Property Description - An exciting opportunity to acquire a substantial detached property in Leigh-on-Sea, Essex, with planning permission granted for conversion into a House of Multiple Occupation (HMO). Offered to the market with an asking price of £650,000–£700,000, this sizeable property presents an opportunity for investors and developers seeking to establish a substantial shared accommodation investment in an established South Essex location. The approved scheme provides for eight double bedrooms arranged over three floors, complemented by four en-suite shower rooms, an additional bathroom, a separate shower room and two further WCs. The proposed configuration offers the potential to create well-appointed accommodation for multiple occupants, subject to the approved plans and all necessary regulatory requirements. Externally, the property benefits from a west-facing rear garden, providing valuable outdoor space for future occupants. The property is detached and offers considerable scope for purchasers looking to undertake a planned HMO conversion.

Current Property - Current Property Accommodation:

Ground Floor:

Entrance porch and hallway

Three rooms, each with wash hand basins

Lounge Diner

Kitchen

Dining area

Two separate W.C.s

Bathroom with W.C.

First Floor:

Five rooms, each with wash hand basins

Study
ursery room

Shower room with W.C.

Outside:

Private West facing rear garden with side access via gates

Investment Potential - With an asking price of £650,000– £700,000 and anticipated room rents averaging approximately £1,000- £1,100 per calendar month, the proposed eight-bedroom HMO presents an attractive potential investment opportunity. Based on eight double bedrooms, the property could generate an illustrative gross rental income of £8,000-£8,800 per month, equivalent to £96,000- £105,600 per annum. This equates to an indicative gross yield of approximately 15% against mid range rents and purchase price, before allowing for conversion costs, void periods, management, maintenance, utilities, insurance, finance and other operating expenses. All rental figures and yields are estimates for illustrative purposes only and are not guaranteed. Actual performance will depend on the completed scheme, lawful occupancy, achievable rents and operating costs.

Additional Information: - EPC Rating: D

Council Tax Band: D

Tenure: Freehold

Offered with Vacant Possession