Longton Grove Road

AT A GLANCE

• Gross yield: 12.9%
• Net yield: 10.3%
• Gross income: £58,200 per annum (£4,850 pcm)
• Net income: £46,200 per annum (£3,850 pcm)
• Nine letting rooms – £50,000 per room
• Freehold | EPC Rating C

INVESTMENT SUMMARY

9 Longton Grove Road offers investors the opportunity to acquire a substantial nine-bedroom House in Multiple Occupation in central Weston-super-Mare, offered freehold with Sui Generis planning consent in place for use as a large HMO. The property produces a gross rental income of £58,200 per annum, a gross yield of approximately 12.9% against the asking price, with a net income of £46,200 per annum (approximately 10.3% net) after annual outgoings of approximately £12,000.

Large HMOs of this scale are increasingly difficult to create – Sui Generis consent is granted sparingly – giving the established use here genuine scarcity value and a defensible position in the local room-rental market.

THE ACCOMMODATION

A substantial property arranged over three floors, configured as a nine-bedroom HMO. Five rooms benefit from private en-suite facilities – three on the first floor and two on the second floor – with the remaining rooms well served by two communal bathrooms on the first floor and an additional WC to the ground floor.

• Ground floor: letting rooms, communal areas and WC
• First floor: three en-suite letting rooms plus two communal bathrooms
• Second floor: two en-suite letting rooms

FINANCIALS

• Gross rental income: £58,200 pa (£4,850 pcm)
• Annual outgoings (approx.): £12,000 pa (£1,000 pcm)
• Net income: £46,200 pa (£3,850 pcm)
• Gross yield: 12.9% | Net yield: 10.3%
• Price per letting room (9 rooms): £50,000
• Average income per room: approx. £539 pcm

PLANNING

Sui Generis planning consent in place for use as a large HMO (more than six occupants). New Sui Generis permissions are granted sparingly, naturally constraining competing supply of comparable large HMOs. Purchasers should make their own planning and licensing enquiries of North Somerset Council.

TENURE & EPC

Freehold | EPC Rating C | Local Authority: North Somerset Council

LOCATION

Longton Grove Road is a quiet side street in central Weston-super-Mare, moments from the Boulevard and Grove Park and within a short walk of the town centre, seafront and Grand Pier. Strong, consistent room-rental demand is driven by local employment, Weston General Hospital, the college and Bristol commuters. The town benefits from a mainline railway station with direct services to Bristol and London Paddington, and swift access to the M5 (Junction 21).