Investment opportunity for an established HMO property situated in the centre of Norwich which when fully occupied was producing £25,376 pa

This period property has been operating under an HMO licence for many years and its current licence granted by Norwich City Council is valid until December 2021. The licence is agreed for six rooms, four are double occupancy and two are single occupancy. The current owner has owned the building since 1997 and has over the years maintained the building in accordance with regulations and all certificates will be obtained within the legal pack. Five of the six are currently let producing £20,852 pa and are all single occupancy at present. There has been no rent increases since April 2018 so the potential of income could exceed £25,376 pa. All tenants have been residing for a number of years. Flat 1: May 2015 Flat 2: March 2009 Flat 3: Vacant Flat 4: June 2015 Flat 5: October 2012 Flat 6: July 2017 Each flat has an electric pound coin meter allocated to the room. Other associated bills are paid by the land lord. The vacant flat and communal areas are available for viewing.

Tenure

Freehold

Ground floor

Entrance hall, flat 1, flat 2, kitchen for flat 1 leading to kitchen for flat 2, shower room, workshop and cleaning room, door to rear garden.

First floor

Landing, flat 3, 4 and 5 each have their own individual kitchens, the shower room and separate w.c. are shared.

Second floor

Flat 6 with kitchen

Exterior

Front walled garden and path lead to the front entrance of the property. Access can be gained via the rear to the walled garden which is gravelled for easy maintenance.

Viewings

Individual appointments can be arranged - BOOKING ESSENTIAL - Please call the Norwich office on 01603 505100 to book the next available slot

Energy Efficiency Rating (EPC)

Current Rating E

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Norwich City Council. Tel: 0344 980 3333

Solicitors

Norton Legal, Unit 8 Beech Avenue, Taverham, Norwich, NR8 6HW, Ref: Tracy Guest, Tel: (01603) 864331

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1140 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.