Broadway, Kettering, Northamptonshire, NN15

FULLY OCCUPIED FIVE-ROOM HMO INVESTMENT – APPROXIMATELY 13.4% GROSS YIELD!

Your Move Nolan Throw are delighted to offer for sale this large Victorian terraced property, currently operating as a fully occupied five-room House in Multiple Occupation (HMO).

Generating a strong rental income with an established tenant base, this property presents an excellent opportunity for investors seeking an income-producing addition to their portfolio.

Ideally positioned within a popular and convenient area of Kettering, the property is within comfortable walking distance of local shops and everyday amenities, Kettering town centre and the railway station. The location offers tenants easy access to a range of shopping, leisure and transport facilities.

The accommodation is arranged over two floors, together with a useful cellar. The ground floor comprises an entrance hall, two letting rooms, a separate WC, laundry room and a communal kitchen/diner, providing a practical shared space for residents. There is also a small lean-to and access to the rear garden, offering additional useful space.

On the first floor, the landing leads to three further letting rooms, including two rooms which benefit from their own ensuite facilities. One of these rooms also enjoys the advantage of a separate dressing room. A further double room and a communal bathroom complete the first-floor accommodation.

In addition, the property benefits from a cellar, providing useful additional storage space.

All five letting rooms are currently occupied and generate a combined rental income of £670 per week (£34,840 per annum). The rental arrangements include bills, offering tenants the convenience of inclusive accommodation.

INVESTMENT FIGURES AND YIELD:

The property is being offered for sale at £260,000, with the current rental income and stated running costs providing the following indicative figures:

Asking price: £260,000

Weekly rental income: £670

Annual gross rental income: £34,840

Current occupancy: Five rooms, fully occupied

Gross rental yield: approximately 13.4%

We are advised that the current cost of providing bills and associated services is approximately £664 per calendar month (£7,968 per annum).

After deducting these stated costs, the indicative figures are:

Annual gross rental income: £34,840

Annual bills and utilities: £7,968

Annual income after stated bills: £26,872

Indicative yield after stated bills: approximately 10.3%

This equates to approximately £516.77 per week after the stated bills, before allowing for any other ownership, management, maintenance, insurance, licensing, compliance, financing or taxation expenses.

LOCATION:

Kettering offers a good range of shopping, dining and leisure facilities, with the town centre conveniently accessible from the property. The railway station is also within easy reach, providing useful connections for commuters and those travelling further afield.

OVERALL:

Offering five currently occupied letting rooms, two ensuite facilities, a communal kitchen/diner, separate laundry room, rear garden and useful cellar storage, this is an appealing established HMO investment. With an approximate gross yield of 13.4% and an indicative yield of 10.3% after the stated bills, it provides an attractive income opportunity in a convenient Kettering location.

For further information or to arrange a viewing, please contact Your Move Nolan Throw.

PLEASE NOTE:

All figures and financial information provided are believed to be correct to the best of our knowledge at the time of writing. They have been supplied in good faith but should be independently verified by prospective purchasers as part of their own due diligence.

The yield figures are illustrative calculations based on the asking price, stated rental income and bills advised to us. The yield after bills deducts only the stated utility and service costs and should not be regarded as a net return or profit figure. No allowance has been made for other ownership, management, maintenance, insurance, licensing, compliance, financing or taxation expenses. Prospective purchasers should make their own enquiries regarding the property's HMO licence, permitted occupancy and relevant safety and compliance requirements.

Some images may have been digitally enhanced for marketing purposes. Any enhancements are intended to improve the visual presentation only and are not intended to alter the layout, design, proportions or actual appearance of the rooms or misrepresent the property in any way.

IMPORTANT NOTE TO POTENTIAL PURCHASERS & TENANTS:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller. POTENTIAL TENANTS: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

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