Description

SOLD FULLY TENANTED

TOTAL CASH REQUIRED FROM CLIENT INCLUDING REFURBISHMENT, FURNITURE, FLOORING AND TENANT MARKETING £129,811.00

* 6 Bed HMO RETURNS, NET OF ALL COSTS AND FINANCE PAYMENTS ON CASH INVESTED - 17.87 % !! *

PLEASE CALL OR EMAIL US FOR FURTHER INFORMATION AND OPTIONS WITH REGARDS TO THE FULL FINANCIAL BREAKDOWNS

Tel 0161 870 0010


** 6 Bed HMO Net Returns from 17.87% **

Please see below for full financial breakdown

An exciting Design and Build project in Preston that will enable a 6-bedroom, 6-bathroom unit with large communal kitchen.

THE PROPERTY

A sought-after area with easy access to UCLan, local amenities and the town centre. Only a 10 minute walk to the University campus and the Student Union bars. The town centre and train station are just a 5 minute walk away.

Spacious enough to enable a 6-bedroom multi let: all with double rooms, 6 bathrooms plus a spacious communal kitchen.

Returns in excess of 17.87%

CHOOSE PRESTON : GREAT VALUE FOR MONEY : EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS

Major employers in Preston include Lancashire Teaching Hospitals NHS Foundation Trust, BAE Military Air Solutions and Booths.
UCLan has 38,000 students from over 100 countries and is partnered with 125 institutions across the globe making us a truly international University. UCLan is ranked in the top 7% Centre for World University Rankings 2021-22.
The Preston Campus is undergoing a radical £200m transformation to create a world class campus.
£434 million is being spent on new investment in Preston that will lead to the expansion and improvement of the transport infrastructure at an unprecedented rate, enabling a forecast 20,000 new jobs and 17,420 new homes to be created. It will provide a huge boost to the local economy, which is expected to grow by £1 billion over the next ten years.
Excellent Train links with a major train station linking Preston to Scotland and London, as well as the local major cities such as Manchester, Leeds and Liverpool.

THE FINISHED PRODUCT

Will be refurbished to the highest standard and contain all the necessities for student life within the furniture pack plus WIFI, bike storage etc.
All rooms will be rented at £100 (ensuite) per person per week.
Will be supplied, fully regulated and compliant with the local council and passed for university accommodation approval on completion of the building work with all necessary approvals.
Will be completed including University required extras such as full fire safety accreditation. This comprises of interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors.

INVESTMENT OPPORTUNITY

Christian Road - Preston

6 bed, 6 bathroom HMO with Net returns from 17.87%

Christian Road Project Overview 6 bedroom, 6 bathroom fully licensed HMO

Purchase Price: £170,000.00
Deposit: £42,500.00 - (Finance 75% LTV)
Conversion/Build: £57,000* approx. (subject to further site visits)
Set up costs/ Design Build Fees - £15,000
Legals - £1,400
Stamp duty - £5,100
Survey - £550

Furniture and flooring packs can be purchased at an additional cost - £8,261.00 plus VAT

Total Project Cost: £257,311.00
Total Cash outlay: £129,811.00

Rental Income: £100.00PPPW (En-suite) x 6 net of bills (water, gas, electricity) = £31,200.00 per annum net (based on 6 bathroom)

Management: £4,118.40 per annum approx. - 10% + VAT fully managed
Annual mortgage cost: £3,885.00 (this is based on just re-mortgaging to repay the bridge)

TRUE NET INCOME: £23,196.60

NET RETURN ON INVESTMENT: 17.87% per annum

BASED ON A COMMERCIAL RE-MORTGAGE VALUATION OF £240,000.00-£250,000.00 WE COULD RELEASE £200,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE £57,311.00 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £18,501.60 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF APPROXIMATELY 32.28% PER ANNUM!!

Do not hesitate in contacting us on 0161 230 3367 if you require any further information on the above deal.

www.hmodesigns.co.uk