Description

SOLD FULLY TENANTED

TOTAL CASH REQUIRED FROM CLIENT INCLUDING REFURBISHMENT, FURNITURE, FLOORING AND TENANT MARKETING £104,406.55

* 4 Bed HMO RETURNS, NET OF ALL COSTS AND FINANCE PAYMENTS ON CASH INVESTED - 16.82 % !! *

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

Tel 0161 870 0010

* 4 Bed HMO Net Returns from 16.82 % *

An exciting Design and Build project in Huddersfield that will enable an excellent 4-bedroom, 3-bathroom unit


THE PROPERTY

A sought-after area with easy access to the University, local amenities and the town centre. Just a short walk from the nearest train station and only a 20 minutes' walk to the University campus.

Spacious enough to enable a 4-bedroom multi let: all with double rooms and 3 bathrooms.

Huddersfield University has nearly 20,000 students and has a lively student community with over 120 nationalities represented at the University.

Within easy access of nearby cities, just 30 minutes from Leeds and 53 minutes from Manchester.

Returns in excess of 16.82%

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

Huddersfield University has been open since 1992 nearly 20,000 students, this well-established University gives great potential for student tenants all requiring private accommodation after their first year in halls of residence.

The University is second in the UK for best student experience, as voted for by international students in the International Student Barometer in 2018. Unlike some larger cities, Huddersfield offers a relatively low cost of living, giving you more for your money.

The University is proud to have been recognised as a gold-rated university by the Teaching Excellence Framework (TEF).

With our years of experience and a solid track record in student accommodation we are able to recognise that this area offers us the chance to create bespoke, fully licenced, and regulated student properties. Once more offering fantastic prospects and excellent opportunities for high yields.

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 - £110 (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

Church Lane Huddersfield
4 bed, 3 bathroom HMO
with Net returns from 16.82%

Church Lane - Financial Breakdown 4 Bedroom 3 Bathrooms

Purchase Price: £125,000
Deposit: £35,468.75 - Mortgage (75% LTV STL with interest paid for 1st 6 months)
Conversion/Build: £41,176.80 approx. (subject to further onsite visits)
Set up costs/ Design Build Fees inc VAT - £15,000
Legals - £1,300
Stamp duty - £3,750
Survey - £450
Furniture and flooring packs can be purchased at an additional cost - £7,261 plus VAT

Total Project Cost: £193,937.80
Total Cash outlay: £104,406.55

Rental Income: £110.00 PPPW x 4 net of bills (water, gas, electricity) = £21,840.00
Management: £2,870.40 including VAT- (10% fully managed)
Balance of Annual mortgage cost as 1st 6 months paid: £1,406.25 approx.

TRUE NET INCOME: £17,563.35 per annum
NET RETURN ON INVESTMENT: 16.82% per annum

NET RETURN ON INVESTMENT AFTER REFINANCE 20.11%

BASED ON A REFINANCE VALUATION OF £165,000 WE CAN RELEASE APPROXIMATELY £132,000 BY MORTGAGING AFTER THE CONVERSION WITH TENANTS IN PLACE (HIGHER LTV AVAILABLE AFTER 6 MONTHS). AT THIS STAGE, YOU WILL HAVE AROUND £66,156.55 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £13,306.80 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 20.11%

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

www.hmodesigns.co.uk