5 bed HMO
Springfield Road, St Helens WA10 3RQ
Project
Background
& Deal Structure
A terraced property converted into a 5 bedroom house of multiple occupancy (HMO) and leased to a Registered Provider on a long-term commercial lease.
The Registered Provider (RP) previously expressed interest in this property, which has now been converted to their specification.
The RP have offered an initial 10 year lease on this unit, following renovation and onboarded the property in late 2023.
Location
Video Walkthrough
Floorplans
Project
Scope of Works
No works required: conversion completed late 2023 and RP tenanted shortly after.
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Financials
Acquisition Costs
| Purchase Price Sale agreed | £185,000 |
| Renovation Refurbishment & Conversion Costs | £0 |
| Architect Budget for plans drafting plans and submission to local authority | £0 |
| Furniture Furnishing to provider’s requirements | £0 |
| SDLT Stamp Duty Land Tax | £5,550 UK £9,250 INT |
| Survey RICS Level 2 report | £500 |
| Legals Conveyancing & transaction fees & disbursements | £1,500 |
| Sourcing Sourcing Fee | £7,500 |
| Capital In Total acquisition costs | £200,050 |
Optional Extras
| Project Management Coordinating contract teams | £0 |
| Lease Setup Lease negotiations & contract admin with Registered Provider | £800 |
Registered Provider 10 Year Lease
| Gross Rent p.a. Negotiated rate for area | £18,200 |
| Operational Expenses p.a. @0.00% | £0 |
| Management p.a. 0.00% | £0 |
| Net Cash Flow p.a. Excluding lending | £18,200 |
Investor Returns
Income & Return
| Net Cash Flow PA Annual net income excluding lending | £18,200 |
| Total Net Cash Flow Net income over 10 year term | £182,200 |
Comparables
Availability
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This deal is available under our standard terms with a 25% downpayment of the Sourcing Fee paid to secure the opportunity, deductible from the final balance due at Exchange of contracts.
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