Duke Street & Manor Row

INVESTMENT SUMMARY

An exceptional opportunity to acquire two adjoining, income-producing properties occupying a prominent L-shaped corner building in the heart of Bradford city centre. Together, 4 Duke Street and 1 Manor Row comprise ten en-suite HMO letting rooms and a self-contained one-bedroom flat, producing a potential combined gross income of £72,000 per annum against an asking price of £680,000, a gross yield of 10.5%.

Full planning permission is in place for the conversions, all works will be completed prior to legal completion, and the vendor has worked closely with Bradford Council throughout construction to ensure the scheme is fully aligned with HMO licensing requirements providing a smooth path to licensing for the incoming purchaser.

• 10 combined en-suite letting rooms across two HMO properties
• Plus a self-contained one-bedroom flat with open-plan living/kitchen
• £72,000 gross income per annum (£6,000 per calendar month)
• 10.5% gross yield; net yield of 9.12% after estimated outgoings
• Turnkey – all conversion works completed before completion of the sale
• 999-year leases from 1997 at a nominal ground rent of £5 per annum (each)
• Prime city-centre location on the corner of Duke Street and Manor Row, BD1

THE PROPERTIES

The two properties form part of the same building; owing to its L-shaped footprint, each benefits from its own address and frontage on a different street, giving the flexibility of a single managed block with two separate titles.

4 Duke Street, Bradford BD1 3QR

A fully converted five-bedroom HMO in which every bedroom benefits from its own en-suite. Residents share a generous communal lounge and kitchen, creating a high-specification co-living environment designed to attract and retain quality tenants.

• 5 bedrooms, each with a private en-suite
• Shared communal lounge and kitchen

1 Manor Row, Bradford BD1 4PB

A converted five-bedroom, five en-suite HMO arranged on the ground floor with a communal kitchen/lounge. In addition, the lower ground floor provides a self-contained one-bedroom flat with an open-plan lounge/kitchen; the flat’s bathroom is located on the ground floor, adjacent to the stairs leading down to the flat.

• 5 ground-floor bedrooms, each with a private en-suite
• Shared communal kitchen/lounge for HMO residents
• One-bedroom flat on the lower ground floor with open-plan lounge/kitchen and dedicated bathroom

PLANNING & LICENSING

Full planning is in place for the conversion of both properties and can be inspected on the Bradford planning portal under the following references:

• 4 Duke Street – planning reference 25/01685/FUL
• 1 Manor Row – planning reference 25/01686/LBC

HMO licences will be required by the incoming owner. The vendor has worked closely with Bradford Council throughout the project to ensure the construction falls in line with regulations, so that any application for an HMO licence should proceed smoothly. We would recommend that any buyer arranges a walk-around with a member of the council office to obtain their thoughts, should they wish to do so.

INCOME & OUTGOINGS

Income Schedule

• 10 × en-suite HMO rooms @ £550 pcm: £5,500 pcm / £66,000 pa
• Lower ground floor one-bedroom flat: £500 pcm / £6,000 pa
• Total gross income: £6,000 pcm / £72,000 pa

Annual Outgoings (Estimated) – Both Properties

• Council tax: £2,800
• Water: £1,680
• Energy: £4,800
• Internet: £660
• Total: £9,940 per annum

Outgoings are vendor estimates covering energy, water, council tax and internet, and will vary with usage and tariff.

RETURNS (Based on £680,000 Asking Price)

• Gross annual income: £72,000
• Gross yield: 10.5%
• Estimated annual outgoings: £9,940
• Net annual income: £62,060
• Net yield: 9.12%

At the asking price of £680,000, the combined gross income of £72,000 per annum represents a gross yield of 10.5%. After the estimated annual outgoings of £9,940, the net income of £62,060 per annum equates to a net yield of between 9.12%.

TENURE

Both properties are held on 999-year leases from 1997, each subject to a nominal ground rent of £5 per annum, effectively offering the security of a virtual freehold.

FURTHER INFORMATION & VIEWINGS

All conversion works will be completed prior to completion of the sale, allowing the purchaser to acquire a finished, ready-to-let investment. Viewings and further information are available strictly by appointment through the selling agent.