High yielding residential investment. 6 bedroom mid terrace house - student let producing £20,016 pa

This mid terrace house is believed to date from 1904. It has been used as a registered student let for nearly 25 years and so is well established and has a current HMO licence. It is registered with UEA, www.homerunstudentpad.co.uk, and we are informed by the owners there has never been a void since they purchased the property. It is currently let at £1,668 pcm gross (£20,016 pa) under a 11.5 month Assured Shorthold Tenancy which expires 9th June 2019. The same students have already signed a new 12 month AST to continue from that date. The rent includes water and internet which amounts to around £1,000 pa but excludes electricity and gas which the students pay £25 pcm per room in addition to their rent. There is no council tax as it is let to students. The property is located close to the heart of the city within a short distance of a range of shopping facilities and amenities. This is an ideal investment opportunity.

Tenure

Freehold

Ground Floor

Entrance hall, sitting room, bedrooms 1 & 2, shower room and wc, kitchen / dining room, sun room.

First Floor

Landing, bedrooms 3 to 6 (5 has a sink), utility, wc, shower room, store room.

Outside

Front garden and small rear yard.

Energy Efficiency Rating (EPC)

Current Rating D

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

Solicitors

Leathes Prior, 74 The Close, Norwich, NR1 4DR, Ref: Mr Stephen Wilson, Tel: 01603 281012

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £900 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.