Beaconsfield Road, Leicester, LE3

An established, licensed five bedroom HMO in Leicester's West End, around a mile from the city centre. For a number of years it has been let on a fixed, guaranteed rent of £21,000 a year, which is below what the rooms can achieve on today's market. At £220,000 that historic rent alone gives a gross yield of 9.5%. A light refurbishment and letting the rooms individually at current rents should lift both income and yield, with no change of use or planning risk.

This bay fronted Victorian end terrace is arranged over three floors. It has five letting bedrooms, a communal living room, kitchen, and three bathrooms between five tenants. The property has mains gas central heating, and an EICR was completed in 2023. The property is freehold, in council tax band B, and is offered with vacant possession.

Ground floor: a communal living room of 4.19m x 2.95m (13'9" x 9'8") with a bay window and period fireplace. Bedroom 1 is 3.66m x 2.95m (12'0" x 9'8"). The kitchen is 4.11m x 2.16m (13'6" x 7'1") with a gas hob and built-in oven. The shower room is 1.73m x 1.22m (5'8" x 4'0") with a WC, basin and electric shower.

First floor: Bedroom 2 is 4.27m x 4.01m (14'0" x 13'2") with a bay window and period fireplace. Bedroom 3 is 3.12m x 2.97m (10'3" x 9'9") with a period fireplace. Bedroom 4 is 2.90m x 2.16m (9'6" x 7'1"). The bathroom is 1.93m x 1.30m (6'4" x 4'3") with a bath, WC and basin.

Second floor: Bedroom 5 is 5.56m x 3.53m (18'3" x 11'7") with an open en-suite shower room.

The total internal area is approximately 131.5 sq m (1,415 sq ft).

Location: Westcotes has had an HMO Article 4 Direction since 2013, so new HMOs need planning permission. That makes existing licensed HMOs like this one scarce. The city centre, De Montfort University, the University of Leicester and Leicester Royal Infirmary are all within easy reach, giving strong demand from young professionals, key workers and postgraduates. The shops, cafés and restaurants of Narborough Road and Hinckley Road are close by, along with regular buses into the centre.

Acquisition costs at £220,000:

• Purchase price: £220,000

• Stamp duty at the higher rates for an additional property: £12,900

• Legal fees (estimate): £1,750

• Refurbishment allowance (estimate): £10,000

• Total investment: £244,650

Disclaimer

In accordance with current legal requirements, all prospective purchasers are required to undergo an Anti-Money Laundering (AML) check. An administration fee of £40 per property will apply. This fee is payable after an offer has been accepted and must be settled before a memorandum of sale can be issued.