Hillcrest
Kenilworth Drive
Kirk Hallam
Ilkeston
DE7 4RW

Guide Price £2,500,000
For Sale

HMO Investment Opportunity

12000 ft²

Approximate Site Area

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VIEWBROCHURE

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Property Summary

Description
The premises was converted and refurbished to a high standard in 2021 and now comprise 5 separate apartments being accessed via a keycode entry system and providing accommodation for 44 tenants when fully occupied.

Each apartment serves 7-10 rooms with some being en suite. Each flat benefits from a spacious communal dining kitchen with more than adequate appliances based on rooms and licensing conditions as well as a TV area which offers a calm relaxing atmosphere with a modern design and décor.

Externally the property provides attractive outdoor spaces for tenants to enjoy as well as a parking area for approximately 13 cars, a bicycle store and CCTV.

Planning & Licensing
Change of Use was granted on 21st November 2019 to a House of Multiple Occupation (HMO) Sui Generous to provide 44no. individual HMO rooms (bedsits).

Council Tax
Council Tax is paid by the tenants on a per-room basis and each room is within Band A.

Price
Offers in Region of £2.5m
(Two Million Five Hundred Thousand Pounds)

Tenure
The property is available to purchase on an unconditional Freehold basis.

Income and Yield
The property is currently at 100% occupancy and therefore provides a gross annual income of £256,666 per annum equating to a gross yield of 10.27%.
Further financial information is available from the agent.

Energy Performance Rating
The property's current energy rating is C62. Copies of the Energy Performance Certificates are available upon request.

VAT
Prices are quoted exclusive of Value Added Tax (VAT) which may apply.

Legal Costs
Each party will be responsible for their own legal costs incurred in this transaction.

Services
We understand that mains, electricity and water and gas are connected to the premises. Services are paid by the Landlord.

Expenditure
We have been provided with the following information by the Vendors relating to expenditure at the property for 2021/22 by way of a guide:

Gas - £1,090 per month (5-year fixed tariff)
Electric - £1,499 per month
Water - £450 per month
TV License- £66.25 per month
Broadband - £435.60 per month
Cleaner- £600 per month

The subject property is located in Kirk Hallam and is conveniently placed for local amenities with a shopping precinct being within a 3-minute walk (0.1 mile) away, including a supermarket, doctors surgery, dental practice and post office.
Ilkeston town centre is a 25 minute walk from the premises or alternatively, local bus services are easily accessible with the nearest bus stop a minute's walk away.
The area has good transport links with Junction 26 of the M1 Motorway located approximately 5 miles to the East accessed by the A610. The commercial centres of Nottingham and Derby are located within 8 miles and 6 miles distance respectively.
Nearby Ilkeston also has a modern train station which is on the Erewash Valley Line, which runs between Nottingham and Chesterfield.

10,000 - 20,000 ft²

Ground Floor Plan

First Floor Plan

For Further Information Contact

David Bladen BSc (Hons) MRICS

Director

Professional Experience

I joined Musson Liggins in 2008 and became an Equity Director of the Practice in 2015. I have been a Chartered Surveyor since 2011.

My role within the firm is versatile, dealing with...

Chloe Lawless - Agency Assistant

Experience

I have worked at Musson Liggins since November 2017. Having started out as part of the secretarial team I now work within the expanding agency department conducting viewings and creating marketing material for...

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