Shared accommodation for sale in The Avenue, Girvan, South Ayrshire KA26

£175,000
Shared accommodation for sale - 7 bedrooms 7 2 1
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Property features

  • This Property Is being Sold By Auction Terms And Conditions Apply
  • Lovely seven Bedroom Townhouse - HMO Licensed For Five Tenants
  • Rental Income £1,400pcm/£16,800pa (11.2% Yield)
  • Potential For Seven Tenants £1,960pcm/£23,520pa (15.7% Yield)
  • Five Tenants In Situ Producing Immediate Income
  • Potential To Extend HMO Licence For Seven Tenants
  • Versatile, Substantial & Well-Presented Accommodation
  • Popular Ayrshire Coast Location nr Nature/Walks/Sports/Golf

Property description

We are delighted to offer to auction this fully tenanted HMO opportunity, enjoying an excellent central, yet quiet, location in Scotland’s Ayrshire seaside town of Girvan. It is situated in The Avenue, which is regarded as Girvan’s most prestigious address. The property comes to market for the first time in close to 20 years, offering a rare, immediate cash generative investment opportunity.

A traditional semi-detached townhouse, the property offers spacious and well-presented accommodation comprising on the ground floor, large front facing lounge, dining kitchen, two bedrooms and utility room. The first floor offers five bedrooms, shower room, additional shower cubicle and WC. The property further offers gas central heating, double glazing, etc. A rear walled patio/garden area features a large outhouse/store and shed with gate giving access to front.

The property is currently licensed as a five tenant HMO and we understand that the licence can be extended to allow two further tenants on completion of minor works, which consist of adding to kitchen facilities. Rental income from five long-term tenants in residence is currently £16,800 per annum. This equates to an attractive rental yield of 11.2% at Guide Price. This rises to 15.7%, based on £23,520 per annum income after completion of kitchen works and approval of the revised HMO licence.

A unique further benefit of this particular HMO property is that one of the long-term tenants also assumes the role of manager to ensure the property is maintained to an excellent standard and all utility costs (except council tax) are paid and fairly apportioned amongst tenants.

Nb Excellent cash generative HMO properties are rarely available and with the added benefit of long-term tenants in situ, this property will attract strong interest from investors seeking secure, immediate rental income with potential for adding further to this.

Early viewing is recommended to fully appreciate the outstanding value on offer.

Ground Floor:

Lounge

4.1m x 4.2m (13’9” x 13’5”)

Kitchen

3.5m x 3.5m (11’6” x 11’6”)

Bedroom One

3.7m x 3.6m (12’2” x 11’11”)

Bedroom Two

2.9m x 3.5m (11’4” x 9’4”)

Utility Room

2m x 1.75m (6’8” x 5’4”)

First Floor:

Bedroom Three

2.85m x 3.5m (11’0” x 9’0”)

Bedroom Four

4.2m x 2.6m (14’0” x 8’6”)

Bedroom Five

2.3m x 2.95m (9’8” x 9’3”)

Bedroom Six

2.35m x 3.6m (11’9” x 7’10”)

Bedroom Seven

2.5m x 2.1m (8’0” x 6’10”)

Cloakroom

1.2m x 0.9m (8’0” x 5’9”)

Shower Room

2.4m x 1.7m (8’0” x 5’9”)

Shower Cubicle

1.6m x 0.9m (5’2” x 3’0”)

Area:

Girvan is a popular seaside town and enjoys a picturesque location on Scotland’s Ayrshire coast. The area is a consistent magnet for tourists looking to enjoy a variety of outdoor pursuits; superb coastal and inland country walks, fishing, sailing, etc. Nearby, also, are two world famous championship golf links - Turnberry (5 miles), just a 9 minute drive from the property and Royal Troon (28 miles) plus other fine golf courses. The town itself offers a full range of retail, leisure and education facilities and transport needs are met by a mainline train station and close proximity to the A77.


Purchasers notes


Please note that these particulars have been prepared by us on the basis of information provided by our client. If there is any aspect of these particulars that you wish clarified or that you find misleading, please contact the office where further information will be made available.

• No tests have been made of services, equipment or fittings.

• No warranty is given or implied as to the condition of buildings, services, fixtures, fittings etc.

• All measurements, distances and acres are approximate.

• Fixtures, fittings and other items are not included unless specified in these details.

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Property info

Floorplan(s): Floorplan 1

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