2 Flats HMO Conversion
- 11.7% NET return
- Prime student location
- Luxury specification
- Large 7 bed HMO
- Fully managed
Working with the Local Planning Authority was essential to turning this purchase into a success.
This was a case where the purchase price was was more than we'd like to pay with its current set up of two flats. With our knowledge of the Liverpool student market and local planning laws we were confident in obtaining the planning needed to turn what seemed a poor investment, into a high yielding one.
The large property had been converted into 2 flats without planning permission. Therefore there was going to be no issue converting the property back to a house. We obtained planning for a 7 bed student HMO which enabled us to get the most out of the property. To do this we added a large rear extension and lowered the 2nd floor to allow head room for and extra bedroom.
The combination of sizable luxury rooms and perfect student location makes it a great investment to hold long term.
* Calculated with 10% management fee
* Valuation based on 12% net rent - specialist hmo lender