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Plodder Lane

Bolton, Greater Manchester

£260,000

  • 5 bedroom HMO property
  • High current net yield: 10.7%
  • Immediate income on completion
  • Strong rental income: £2,780pcm
  • Cert of lawfulness in place

    For more information please contact our team:

    0161 337 3890

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    Bolton, Greater Manchester

    5 Bedroom HMO | £260,000 | 10.7% Net Yield
    Property Highlights
    • Five letting bedrooms
    • Five en-suite bathrooms
    • Working professional tenant profile
    • Offered with tenants in situ
    • Currently fully managed
    • Potential rental income of £2,780 pcm
    • Potential annual rental income of £33,360
    • 12.9% gross yield at £260,000
    • 10.7 % net yield after the supplied operating costs
    • Full HMO licence in place
    • Certificate of Lawfulness in place
    • Located within an Article 4 direction area
    • Established investment opportunity aimed at the professional rental market
    Rental Income
    Based on full occupation at the stated rents:
    • Room 1: £560 pcm
    • Room 2: £520 pcm, currently going through referencing
    • Room 3: £550 pcm, tenant recently vacated
    • Room 4: £550 pcm
    • Room 5: £600 pcm
    Potential monthly rental income: £2,780
    Potential annual rental income: £33,360
    Asking price: £260,000
    Gross rental yield: 12.9%
    Outgoing Costs & Returns
    Annual costs supplied:
    • Council Tax: £1,427.38
    • Gas & Electricity: £3,026.40
    • Broadband: £552
    • Water Charges: £600
    Total listed annual costs: £5,605.78
    Annual income after listed costs: £27,994.22
    Monthly equivalent after listed costs: £2,332.85
    Net yield after listed costs: 10.7%
    The above figures assume that all five rooms are occupied at the stated rents and that rent is collected for a full 12 months. Room 2 is currently going through referencing and Room 3 has recently become vacant, so the £33,360 annual income represents the property’s potential income at full occupancy, rather than its current collected rental income.
    The net figure is after the costs listed above, including the supplied management fee, but before any other costs such as insurance, maintenance, repairs, voids, arrears, licensing/compliance expenditure, finance, tax and purchase costs.
    An Established HMO Investment
    For an investor, one of the property’s strongest selling points is its established HMO setup.
    Each of the five bedrooms benefits from its own en-suite, providing a configuration well suited to individual professional room lets and offering tenants greater privacy than HMOs reliant entirely on shared bathroom facilities.
    The property also benefits from a full HMO licence and Certificate of Lawfulness, as advised, which are particularly relevant given its location within an Article 4 direction area.
    With professional tenants already occupying the property and management currently in place, a buyer has the opportunity to take over an existing HMO operation rather than starting with a conventional vacant residential property.
    Farnworth: An Area Benefiting From Investment
    Farnworth is part of the wider Bolton and Greater Manchester economy and is currently the subject of significant regeneration activity.
    The town has seen investment through the Farnworth Green development alongside improvements to Market Street and Farnworth Leisure Centre. Bolton’s official investment portal also states that Farnworth has secured £19.5 million over ten years through the Pride in Place programme, with projects intended to support areas including public spaces, local businesses, transport links and cultural and social opportunities.
    For an HMO aimed at working professionals, continued investment in the town and the wider Greater Manchester economy adds to the property’s overall investment proposition.
    A High-Yielding Addition to an Investment Portfolio
    At an asking price of £260,000, the combination of five en-suite letting rooms, professional tenants, existing management and the property’s HMO documentation creates an attractive proposition for investors seeking a ready-established shared accommodation asset.

    Return on Capital Employed (ROCE) Calculator

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    Property Price

    Mortgaged

    Cash Purchase

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    25%

    £260,000.00

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