HMOs for Sale
16 Market Square, Wellington, Telford
6 0 1
£550,000 Asking Price Terraced for sale
Description
Introducing a fantastic opportunity to purchase this fully occupied 6 bed all ensuite HMO with commercial unit. This HMO property is a Grade II listed, freehold building constructed with brick and tile. It spans three storeys, comprising six double ensuite bedrooms and a commercial space on the ground floor. The property has been recently refurbished to a good standard, with full double glazing and modern amenities such as wireless broadband. Tenants have access to a shared kitchen and dining area. While there is no garden or parking available, the property is fully compliant with HMO licensing requirements, including fire safety measures. The commercial unit adds an extra income stream, producing £1,062 monthly. The building features underfloor heating powered by an air source heat pump, making it energy-efficient despite its commercial energy rates.
Situated in Wellington, Telford, this property benefits from a central location in a thriving market square. Wellington offers strong transport links, with easy access to the M54 motorway and regular train services from Wellington station, making it a popular area for commuting professionals. The local area is home to a variety of shops, cafes, and essential services, contributing to high rental demand and ensuring strong occupancy rates. The property's proximity to local amenities enhances its appeal to tenants and supports the potential for capital growth. The property operates under an HMO license, accommodating six tenants with multi-tenancy agreements (AST) and is self-managed, with a 14% management fee applied.
Income:
Unit 1 - £ 685 / Unit 2 - £648 / Unit 3 - £651 / Unit 4 - £700 / Unit 5 - £700 / Unit 6 - £670 / Unit 7 (Commercial) - £1,062
Total; £5,116.00 PCM / £61,392.00 PA
Expenditure:
Electric £470 / Cleaner £100 / Council Tax £208 / Water £45 / Broadband £50 / Insurance £50 / Management - £716
Total; £1,639 PCM / £19,668.00 PA
Gross Yield: 11.16%
Additional Details
- Bedrooms: 6 Bedrooms
- Receptions: 1 Reception
- Ensuites: 6 Ensuites
- Kitchens: 1 Kitchen
- Buyer Fee: 2.00% + VAT
- Tenure: Freehold
- Rights and Easements: Ask Agent
- Risks: Ask Agent
Brochures
Features
- 6 Bed HMO with Commercial Unit
- Fully Licensed
- 100% Occupancy
- Recently Refurbished
- Gross Income £61,392.00 PA
- Gross Yield 11.16%
Enquiry
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