Latest Valuation
£1,600,000
Yield
10.5%
Selling Agent
Sourced Birmingham

HMO Conversion Opportunity in Birmingham

A running carehome offered vacant
Guide Price
£1,600,000

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Key Features

  • New with high finish
  • Popular area with high rental
  • Close to Birmingham City
  • Close to local amenities
  • Fully furnished
  • Carehome finish

The Property

A running carehome offered vacant.
The 31 ensuites property can be converted to 36 ensuites, as there is a large dining / lounge / kitchen area with very large corridors.
This hospital-like purpose-built carehome can be ideal to run as an HMO for sheltered housing, housing association tenants, supported tenants etc.
At a minimum of £400 per room per month the property can yield a net of 10% plus.

This purpose-build carehome is in immaculate condition, spread over 3 floors with a lift.
It's got a large lounge, dining, kitchen with expansive corridors.
Fully furnished with 31 ensuites, with a possibility of adding 5 - 8 more ensuites

Each room has a phone / TV point and is of high spec.
Nice garden for the residents.
Private parking plus plenty of on road parking.

The Financials:
Purchase price: £1,600,000
Yield: 10.5%
Minimum monthly rent: £400 per room
Refurb cost: £30,000

Planning Information

N/A

The Plan

A running carehome offered vacant.
The 31 ensuites property can be converted to 36 ensuites, as there is a large dining / lounge / kitchen area with very large corridors.
This hospital-like purpose-built carehome can be ideal to run as an HMO for sheltered housing, housing association tenants, supported tenants etc.
At a minimum of £400 per room per month the property can yield a net of 10% plus.

The Location

The property is well located in a residential area close to the city centre .
Close to the local shops and public transport.

Average estimated value for a house in B7

£

Local data suggests the average single ensuites can fetch £601 pcm and shared double at £482 pcm through professional private tenants.
This is perhaps due to the close proximity to the city centre as well as to amenities and public transport.
The property would be an ideal house for housing associations and people requiring some sort of support as it is conducive to their requirements.