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  • MarketPlace

    Selling HMO in Northampton

    My friend and I own a Victorian mid-terrace house in Oakley St, The Mounts, Northampton, NN1 3EP which has been converted into a 4-bed house and has a new 5 year HMO license (article 4 direction). It was fully tenanted and achieving £1,475pcm. However, all 4 tenants have handed in their notice – they have become good friends over the last few years and we suspect their using one of them to rent a house under one tenancy agreement and subletting the rooms to the other 3 which is a cheaper option for them than 4 separate tenancy agreements.

    We are looking at the possibility of using this break in tenancy to sell the property to an investor if anyone knows of anyone that might be interested.

    Rental yield 8.4%.

    Monthly rental income:
    Room #1 £395 pcm
    Room #2 £380 pcm
    Room #3 £380 pcm
    Room #4 £320 pcm

    Total rent per month £1,475
    Total rent per annum £17,700

    Monthly bills:
    Council (Band A) £111
    Gas £45
    Elec £43
    Water £61
    TV license £12
    WiFi £30

    Total bills per month £302
    Total bills per annum £3,624

    New bathroom renovation (fully tiled) last month.

    We have done some market research in the local area for comparable properties with HMO license and we would be looking for a sale of £210K (open to sensible offers). Thanks, Mel 07472902802.

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    Hi Melanie,

    Sounds like a good investment. At Vesta Property we specialise in selling BTLs and HMOs to other investors. Feel free to reach out at https://www.vestaproperty.com. We'd be delighted to discuss this with you and give you a view on valuation and investor appetite.

    Kind regards,

    Vesta Property

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    is there a lounge?  how many people is the licence for?  is it first floor bath/wc?

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    Hi, just wondering if you have had any serious offers?

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