- HMO conversion opportunity
- Great potential ROCE
- Close to links for Manchester and Motorways
- Fully managed conversion if required
- Regeneration scheme in area
Large end terraced property which lends itself perfectly to be converted to an HMO.
It is in a desirable area walking distance to amenities and excellent transport links. The area is undergoing a scheme of regeneration and there are already many large organizations based in the locality due to the area having a huge storage and distribution park which means there are always jobs on offer.
Furthermore there is investment in the area which will see further jobs and should lead to increased demand for rooms.
Capital appreciation in the area over the long term should be solid due to the proximity to Manchester and investments in the area. A scheme of £150M has just started which includes 135,000 sqm of employment space, 1,000 new homes, new school and an estimated 2,800 FTE jobs.
Link to article: http://www.rochdale.gov.uk/news/Pages/work-starts-on-regeneration-scheme.aspx
Purchase price: £225,000
Sourcing fee: £3,000
ROCE: 48% (based on purchase price of £225,000 25% deposit and associated costs and a rental income of £30,600 per annum)
Selling office: Sourced Rochdale