Fantastic 5 bed HMO - 5 en suites - 2 kitchenettes

Description

INVESTMENT OPPORTUNITY

Heneage Road - Grimsby
5 bed, 5-bathroom HMO

Heneage Road - Financial Breakdown – 5 Bedroom – 5 Bathrooms

Purchase Price: £70,000.00
Deposit: £20,492.50 (includes 6 months interest for bridging loan)
Conversion/Build: £80,483.02* approx. (subject to further onsite visits)
Set up costs/ Design & Build Fees - £15,500.00
Legals Estimate - £1,400.00
Stamp duty - £3,500.00
Survey - £650.00
Furniture and flooring packs can be purchased at an additional cost - £11,408.99
Total Project Cost: £185,934.51
Total Cash Outlay: £85,434.51 (this is based on using development finance to help fund the project)

Projected Rental Income: £105.00 PPPW net of bills (water, gas, electricity) x 3 & £125 PPPW x 2 = £29,380.00 per annum
Management: £4,305.60 including VAT - (10% fully managed)
Net Income: £25,074.40
NET RETURN ON INVESTMENT AFTER REFINANCE: 44.64%

Based on a projected refinance valuation of £185,000.00 we can release approximately £148,000.00 by re-mortgaging after 6 months. At this stage, you will have around £37,934.51 left in the deal and after deducting the new, increased mortgage interest, your net income will be around £16,934.40 per annum giving you a net return on cash invested of 44.64%.

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

• Major regeneration funding - Grimsby has secured large-scale funding deals aimed at regenerating the town — for instance, a £67 million investment to improve the docks area, build ~10,000 homes, and create ~ 8,000 jobs.
• Infrastructure improvements - There are ongoing investments to upgrade key bridges (especially along the A180), roads, and access to ports. Upgraded infrastructure reduces bottlenecks, improves logistics, and supports businesses.
• Strong focus on enterprise, logistics & offshore/renewables - The port and related seafood cluster are already big economic assets. Also, Grimsby is becoming increasingly central to operations for offshore wind and renewable energy projects. Those industries have both current momentum and future potential.
• Housing demand and residential development - With new homes being built (in the regeneration plans) and improved urban amenities, there’s a strong base for residential investment. Investors in housing / buy-to-let are likely to benefit from rising demand.
• Opportunity for value‐add - Because Grimsby is still developing, there are undervalued assets and spaces, especially in retail, leisure, and housing, which can be revitalised or converted. These kinds of projects often yield higher returns if managed well.
• Youth / community investment - There is support for community, youth, and skills development, which helps to build a more capable workforce and stabilise the social environment — important for long-term returns. Example: the new Youth Zone project.
• Improving amenities & placemaking - Projects like the Freshney Place revitalisation (leisure/retail/food hub), public squares, and upgrading town centre, are making Grimsby more attractive for people to live in, visit, and spend.

Ad ID: 1503811616