£550,000
16 bed semi-detached house for saleShakespeare Road, Bedford, Bedfordshire MK40
16 beds
3 baths
3 receptions
Auction
Freehold
About this property
* rarely available * 16 bed HMO *
An excellent opportunity to acquire a substantial 16-bedroom HMO property, comprising nine double bedrooms and seven single bedrooms, offering an attractive investment opportunity with significant potential to increase rental income.
The property is currently generating approximately £57,960 per annum, with seven of the nine double bedrooms currently occupied at £390 per calendar month, and the remaining two double rooms offering the opportunity to be let at an increased market rent.
The seven single bedrooms are currently rented at £300 per calendar month, with potential rental values of approximately £450 per month, subject to market conditions and the necessary licensing/planning requirements.
The property benefits from three kitchens, three bathrooms and substantial off-road parking for approximately 15 vehicles, providing excellent facilities for HMO occupants.
With scope to review and increase the existing rents, the property has the potential to generate in excess of £95,000 per annum, representing a substantial increase on the current rental income.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
An excellent opportunity to acquire a substantial 16-bedroom HMO property, comprising nine double bedrooms and seven single bedrooms, offering an attractive investment opportunity with significant potential to increase rental income.
The property is currently generating approximately £57,960 per annum, with seven of the nine double bedrooms currently occupied at £390 per calendar month, and the remaining two double rooms offering the opportunity to be let at an increased market rent.
The seven single bedrooms are currently rented at £300 per calendar month, with potential rental values of approximately £450 per month, subject to market conditions and the necessary licensing/planning requirements.
The property benefits from three kitchens, three bathrooms and substantial off-road parking for approximately 15 vehicles, providing excellent facilities for HMO occupants.
With scope to review and increase the existing rents, the property has the potential to generate in excess of £95,000 per annum, representing a substantial increase on the current rental income.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
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