ROI = 10% BMV = 19.62%
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Description
Davey Drive is an area of the City in high demand for student rental, owing to its close proximity to Lewes Road, its amenities, and travel links to both Universities and the City Centre. However, the road has a shortage of licensed HMOs, meaning this 4 bedroom property has consistently let with ease for a number of years, and at a rental in excess of market averages. Currently let on a joint, fixed term AST, the property returns a monthly rental of £2,850. This tenancy is set to expire on September 4th 2025. The property is presently marketed for the following 2025-26 academic year, though until let, any buyer has the opportunity to request amended terms to a new rental, or post-ponment of re-let if major works are planned. The property presently holds a full HMO license for 4 occupiers, and also holds right of use as a C4 dwelling (Small HMO) for planning purposes, through continued used, under the City's Article 4 directive. Subject to any additional planning consent, there may be further development opportunities for the property, owing to a large garden which could accommodate a rear extension and additional bedrooms. However, four bedroom student properties are in highest demand (Coapt 2024-25 Internal Data Review), and so the property is already well positioned for lucrative returns, This is illustrated by the current 8.5% gross yield against the asking price.
Find out MoreProperty Details
- Property ID: 157703366
- Added On: 2025-02-03
- Deal Type: For Sale
- Property Price: £400,000
- Bedrooms: 4
- Bathrooms: 1.00
Amenities
- 4 Bedroom HMO
- Freehold
- Chain-Free
- Fixed Term AST until Sept 2025
- £2,850 pcm rental
- 8.55% Gross Yield
- Continued use as C4 (small HMO) Dwelling
- Asking: £400,000
