Special Offer - OFF PLAN NEWLY CONVERTED HMO - SOLD FULLY REGULATED AND WITH TENANTS
Dall Street, BURNLEY– 4 Bedroom – 3 Bathroom ONLY £71,250 CASH REQUIRED – 24.82% ROI!!!
SOLD INCLUSIVE OF ALL FURNITURE FLOORING WHITE GOODS, TV, WIFI ETC
Purchase price: £140,000.00
Mortgage available up to £75,000
Deposit Required £65,000
Legals - £1,500
Stamp duty - £3,000
Survey - £750
Total Cash outlay: £71,250
Total Project Cost: £144,950
Rental Income: £80.00 net of bills (Ensuite) x 4 (water, gas, electricity) = £16,640 per annum net (based on 4 bedroom – 3 bathroom)
Management: £1,996.80 approx including VAT
Annual mortgage cost/: £2,625.00 approx. (based on an interest rate of circa 3.5%)
TRUE NET INCOME: £12,018.20 per annum
NET RETURN ON INVESTMENT: 16.84% per annum
Remortgage figures Burnley.
Based on a refinance valuation of £130,000 after 12 months letting we can release approximately £104,000. At this stage, you will have only £42,250 left in the deal and after deducting the new, increased mortgage interest, your net income will be around £10,484 per annum giving you a net return on cash invested of approximately 24.82% per annum!!
• A sought-after area with easy access to the University, large employers, local amenities, and the town centre. Just off the M65, a short walk from the nearest train station and less than 15 minutes’ walk to the main UCLan Victoria Mill Campus.
• Will be fully converted on completion of purchase into a 4 bed 3 bath fully compliant HMO property with tenants placed in all rooms for you.
• 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.
• As most of our Burnley properties are town centre located, they will not only have an increase in value due to the transformation from single dwelling to a commercial HMO, they will also actually generically gain in value as all town centre units do over any given period
• 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 £80 - £85 (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.
Do not hesitate in contacting us on 0161 230 3367 if you require any further information on the above deal.
Ad ID: 1412354532
VAT number: 297930058