4 BED HMO BURNLEY FOR SALE ** ONLY £15,000 CASH ** REQUIRED
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HMO Property Designs
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- 5 hours ago
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** Low Cash Input - Not to be Missed - 4 Bed HMO **
** ONLY £15,000 CASH REQUIRED **
Please see below for full financial breakdown
• This property is in a popular area of Burnley with the University UCLan Victoria Mill Campus just a 6 minute drive away.
• Just off the M65, a short walk from the nearest train station, large employers, local amenities, and the town centre.
• Fully approved for our guarantee professional rental scheme.
• Located in fantastic proximity to Burnley General Hospital, one of the largest teaching hospitals in the North West. This provides further professional and student demand due to the extensive medical and nursing courses offered at the University.
CHOOSE BURNLEY : GREAT VALUE FOR MONEY : EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS
• Within the Burnley area we have two lucrative rental sources, firstly all our properties are built to the highly regulated specification set down by UCLan university campus. Secondly, we are contracted to provide blue collar professional HMO units to the Boohoo Group. All our sourced houses are located within agreed postcodes for both these two institutions. This year we are contracted to supply 60, 4 bedroom units to Boohoo because of the highly published workforce expansion taking in Debenhams, Dorothy Perkins, Burtons and Wallis.
• UCLan (The University of Central Lancashire) has over 30,000 students, which has led to the construction of a campus in Burnley. This has created an exciting proposition for ourselves and our investors alike. The UCLAN campus does not currently have sufficient accommodation onsite, and this makes for a fantastic chance to take full advantage of early investment without any risk. Currently we have 100 plus, professional rooms which are completely over subscribed.
• With years of experience and a solid track record in student accommodation we are able to recognise that there is currently a very limited number of bespoke, fully licenced, and regulated student properties available. This creates a fantastic niche opportunity and excellent opportunities for high yields.
• Our success rate in Salford includes over 500 rooms fully occupied. In Burnley, the pro-rata demand for student and professional lettings is even greater due to the complete lack of units available.
• There is large ongoing investment in this campus by UCLan with student numbers expected to rise year on year (4,000 by 2025) this will lead to a large shortfall of student accommodation especially houses designed for student needs and built to our proven highest standards.
• The University are only able to supply a nominal amount of student accommodation and will therefore rely heavily on the private sector to meet the shortfall. As we are currently the only major company offering this level of high-quality modern student accommodation, we will be able to create early profits for our clients.
• The Student intake will have a real and urgent need for quality rooms throughout the coming years and we are therefore looking to provide a further 200 student rooms alone in this area which will have an increased allocation year on year.
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 £85.00 per person per week.
• Fully regulated and compliant with the local council and passed for university accommodation approval.
• 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.
Coultate Street - Burnley
4 bed, 4 bathroom HMO
with Net returns from 19.99%
Coultate Street - Financial Breakdown – 4 Bedroom – 4 Bathrooms
Purchase Price: £120,000.00
Deposit: £41,250 - Mortgage (Based on 75% of a bricks and mortar valuation of £105,000)
Set up costs inc VAT - £13,615.50
Legals - £1,400.00
Stamp duty - £3,600.00
Survey - £550.00
Total Project Cost: £141,162.50
Total cash required £15,000
TRUE NET INCOME: £9,473.80 per annum
NET RETURN ON INVESTMENT: 63.13% per annum
BASED ON A REFINANCE VALUATION OF £130,000 WE CAN RELEASE APPROXIMATELY £104,000 BY RE-MORTGAGING AFTER 12 MONTHS.
AT THIS STAGE, YOU WILL PAY £25,250 OFF THE COMFORT CHARGE AND THEREFORE LEAVING THE BALANCE AT ZERO AT THE END OF THE TERM.
YOUR NET INCOME WILL BE £9,755.20 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED (£15,000) OF 65.08%
Do not hesitate in contacting us on 0161 230 3367 if you require any further information on the above deal.
Ad ID: 1418268757VAT number: 297930058
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