The property is located in a new build style development of Hartford Court NE6 5BG is a freehold licenced HMO the landlord purchased the freehold in 2014, the Land Registry entry relates to this effect.
All 5 rooms are currently let on ASTs to professionals at a gross monthly rent of £1925 per calendar month, currently managed by a competent reputable management company, the landlord currently has other property interests in the area & is continuing with same company.
The landlord is looking to change his portfolio due to the changes in taxation of buy to lets, is not in a hurry to sell & expects to achieve the asking price due to the stability & condition of this investment.
Naturally as a pro-share there are costs that the landlord has to bear, which are as follows:
Council tax for 2018/19 is £1771.21 for the year
Water charges 2017/18 totalled £973
Gas and electricity are currently averaging £148.07 p.c.m
Internet charges are a fixed £44 p.cm
Cleaning costs £78 per month
Priced at £215,000.
As with any business or investment purchase, the analysis of current resources & overheads are generally a must in order to identify further potential & effective profit.
As always it is recommended potential buyers carry out their own due diligence.
Please bear with me as I organise images this week, I would prefer to obtain pre let images where possible however, viewing of the accommodation will determine the true value of the property status.
Please oblige & contact Gary Abela to further discuss your initial interests, & arrange a viewing, email@example.com 07958258914 01912412410.