Fully occupied 10 bed HMO, Halton, Cheshire A buy-and-hold investment opportunity, with potential to add significant value. North Wall Welcome All four apartments have laminate flooring, fully fitted kitchens and bathrooms, and double glazing. EPCs supplied separately. North Wall 67 Main Street, Halton, Cheshire. A fully occupied 10 bedroomed all en-suite HMO in Halton, Cheshire. The property is located in an attractive location and boasts a huge plot with potential for development. Being situated on the edge of Runcorn and with good access for both Warrington and Liverpool means that when tenants do give notice, rooms are re-let extremely quickly meaning very few voids. The building was bought in 2015 and was a derelict shop / house. The original building was gutted and a 2 story extension was added to make a 10 bed (all en-suite) 2 kitchen HMO. It was specifically designed to be an HMO and so is very well insulated and has a car park and small garden. Images and floor plan enclosed. Currently producing £59,800 pa, the property is available for £525,000, representing a gross yield of almost 11.5%. The current owner has explored opportunities for further development on the plot, and any new buyer could explore their own options to create more value. The opportunity North Wall Location North Wall The large plot backs on to the City Fields public park. The potential additional development would sit at the rear of the plot leaving the existing car park to serve the HMO. North Wall Bedrooms North Wall All bedrooms are large double rooms with room for a seating area. They are all en-suite and have small kitchenettes. Kitchens North Wall There are two identical kitchens on the first and second floors. Welcome North Wall All en-suite bathrooms have tiled shower units with thermostatic showers, sink and WC. Floorplans North Wall Plans for the small block in the rear garden are enclosed. The council were supportive of the application and moved to approve it, but the current owners were turned down at a local councillors meeting. The decision was appealed but eventually lost on the grounds that, because it was in a conservation area, the harm done by the development outweighed the benefit to the area. Due to the level of support received and the size of the plot, there is scope to re-visit the plans with the support of a local planning consultant. The current owner is willing to give this potential plot way for free and simply add a clawback on it if planning were to be secured in the future The building plot North Wall Plot and proposed development North Wall Previous planning proposal North Wall This property makes a fantastic yielding investment at over 11% GY in the current market as a going concern. However, we believe that there is scope to add further value in a variety of ways. The most obvious is to pursue the previous planning proposals and develop an additional dwelling. Once complete, this could be let as single lets or additional multi-lets. We feel that there is scope to increase the rental income slightly as an HMO, but to also consider leasing to a housing provider or running the property as short term accommodation focusing on the contractor market for Runcorn, Ellesmere Port and Warrington. — Offers are invited on the property in the region of £525,000 plus fees at 2% +VAT (£10,500 +VAT). The vendor will also apply an overage clause on any uplift in value as a result of securing planning or developing the site out. Summary North Wall P u r c h a s e P r i c e £ 5 2 5 0 0 0 D e p o s i t @ 2 5 % £ 1 3 1 2 5 0 R e f u r b ( E S T ) £ 5 0 0 0 G e n e r a l t i d y a n d r e d e c o r a t e S o u r c i n g F e e £ 1 0 5 0 0 L e g a l f e e s £ 2 0 0 0 S t a m p d u t y £ 1 5 7 5 0 To t a l i n v e s t m e n t £ 1 6 4 5 0 0 M o r t g a g e £ 3 9 3 7 5 0 To t a l m o r t g a g e & f e e s £ 3 9 3 7 5 0 To t a l p u r c h a s e c o s t s £ 5 5 8 2 5 0 R e n t a l i n c o m e - m o n t h l y £ 4 9 8 3 M a n a g e m e n t @ 1 0 % £ 4 9 8 M a i n t e n a n c e a l l o w a n c e @ 8 % £ 3 9 9 M o r t g a g e @ 6 % ( I n t e r e s t o n l y ) £ 1 9 6 9 R e n t a l c a s h f l o w £ 2 1 1 7 A n n u a l p r o f i t £ 2 5 4 0 8 Y i e l d 1 0 . 7 1 % R e t u r n o n c a p i t a l 1 5 . 4 5 % Example numbers* * The figures outlined on this page are for illustrative purposes only, and all prospective buyers should run their own numbers and conduct their own due diligence. Please get in touch for more information. 0151 804 4303 hello@northwallproperty.com North Wall