My Walsall BTL deal of the week is a little different this week. It certainly isn’t for the faint hearted or newbie landlord with the asking price in the region of £1m (£1,000,000.00)! I thought it was worth a mention on the Blog as it’s different to the usual type of stock we see and this type of property doesn’t come along very often.
This is a ready made property which has been refurbished to a good standard. Classed as a House in Multiple Occupation (HMO), the building is Grade 2 listed Regency Period end of terrace over three stories.
Situated on Bradford Street on the corner of Caldmore Road just on the outskirts of the Town Centre.
- GIA – 5,000 sq ft.
- Passing Rent – £80,100 pa.
- ERV – £107,500 pa.
- Freehold
I like the fact the property is freehold and the refurb has been done to a good standard. 15 of the 19 studios have already been let with one currently under offer therefore, the property will start giving you an income immediately.
You will need to be an experienced landlord who doesn’t mind getting stuck in. In my day job we manage several Blocks where management is a bit more intensive and with a Grade 2 listed building you will need to watchout for the restrictions, re-build and insurance costs.
If you wish to arrange a viewing or discuss this one in further detail please get in touch with me direct.
For more information about other potential investment properties that I could introduce you to, or to ask about my thoughts on your own investment choices, call me now on 01922 637672, you can always email me on salekm@ashmorelettings.co.uk.
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