The Perfect HMO **8 Bed 8 Bath** **58% Annual Returns**

Description

INVESTMENT OPPORTUNITY

West Street - Financial Breakdown – 8 Bedroom – 8 Bathrooms
Purchase Price: £120,000.00
Deposit: £35,130.00 (includes 6 months interest for bridging loan)
Conversion/Build: £147,770.60* approx. (subject to further onsite visits)
Set up costs/ Design & Build Fees - £30,000.00 (commercial to residential fee structure)
Legals Estimate - £2,200.00
Planning Permission - £4,500.00
Broker Fee - £1,000.00
Survey - £2,700.00
Furniture and flooring packs can be purchased at an additional cost - £17,682.72
Total Project Cost: £330,983.32 (includes 6 months interest for bridging loan)
Total Cash Outlay: £240,983.32 (includes 6 months interest for bridging loan)

Projected Rental Income: £115.00 PPPW net of bills (water, gas, electricity) x 4 £120.00 PPPW net of bills (water, gas, electricity) x 3 £125.00 PPPW net of bills (water, gas, electricity) x 1 = £49,140 per annum
Management: £7,114.80 including VAT - (10% fully managed)
Net Income: £42,025.20
NET RETURN ON INVESTMENT AFTER REFINANCE: 58.03%
BASED ON A REFINANCE VALUATION OF £340,000.00 WE CAN RELEASE APPROXIMATELY £272,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £58,983.32 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £28,425.20 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 58.03%.

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

• It has close commuting and business links with Lancaster and Lancaster.
• A fantastic opportunity for quality living in a coastal town with demand from relocating professionals from across the country and locals alike.
• The area has a large shortfall of shared accommodation for contractors.
• In September 2021 BAE Systems was awarded a £85m to support early design and concept work on the Royal Navy's next generation of submarines which will help secure 100’s of jobs in Cumbria.
• Barrow is the centre of the 'national endeavour' to develop a new generation of nuclear deterrent submarines, the £40 billion Dreadnought programme.
• There are other important employers soon to arrive including The Eden Project.

Ad ID: 1502500122