Block of flats for sale in Kings Terrace, Newcastle-Under-Lyme ST4

Investment Consideration:
Gross Initial Yield: 9.96%
Rental Income: £26,580 p.a.
VAT is not applicable to this property
Comprises mid-terrace 4-bed HMO (all rooms ensuite)
Newly converted to a very high standard
Located next to King Street which provides regular bus services to the town centre and towards Stoke-on-Trent via Queensway.

Property Description:
Mid-terrace house newly converted to a high standard 4-bed HMO. Ground floor comprises fully fitted kitchen with dining area and two en-suite rooms (1 and 2). First floor comprises communal lounge with smart TV and two en-suite rooms (3 and 4). Each room is fully furnished with double bed, orthopedic mattress, TV, large wardrobe and bathroom. The property also benefits from large communal garden at rear.

Tenancy:
Room 1 is at present let to on AST to an Individual for a term of 12 Months from 2nd February 2023 at a current rent of £6,060 p.a. Deposit held of £505.
Room 2 is at present let to on AST to an Individual for a term of 12 Months from 4 October 2022 at a current rent of £6,600 p.a. Deposit held of £550.
Room 3 is at present let to on AST to an Individual for a term of 12 Months from 11 October 2022 at a current rent of £6,600 p.a. Deposit held of £550.
Room 4 is at present let to on AST to an Individual for a term of 12 Months from 11th August 2023 at a current rent of £7,320 p.a. Deposit held of £610.

Location:
Newcastle-under-Lyme is a market town and the administrative centre of the Borough of Newcastle-under-Lyme in Staffordshire, England. The town is served by the M6 motorway to the south and west of Newcastle and by the A500 road to the north and east. There are access points from the M6 at junctions 15 and 16, to the south and north respectively. The A34 trunk road runs through Newcastle from north to south and was the main road between Birmingham and Manchester until the M6 motorway opened. There is a large bus station in the town centre. The property is located next to King Street which provides regular bus services to the town centre and towards Stoke-on-Trent via Queensway.