Milton Road, Swindon, Wiltshire
10 10 1
£740,000 Offers Over House of multiple occupation for sale
Description
Rental growth in Swindon in recent years has been exceptional.
Milton Road in Swindon offers a remarkable investment opportunity, featuring a meticulously developed HMO with 10 en-suite bedrooms, including one studio. After purchasing the property in 2018, the current owners invested over £300,000 to transform this former commercial property into a modern, fully compliant HMO. The property boasts two well-equipped kitchens, modern neutral décor throughout, and practical additions like guaranteed superfast broadband and off-street parking for two vehicles.
Income Breakdown (Monthly):
Room 1: £855.00
Room 2: £690.00
Room 3: £735.00
Room 4: £699.00
Room 5: £640.00
Room 6: £700.00
Room 7: £630.00
Room 8: £720.00
Room 9: £575.00
Room 10: £585.00
Total Monthly Income: £6,829.00
Annual Income: £81,948.00
Expenditure Breakdown (Monthly):
Light/Power/Heating/Water: £440.00
Council Tax: £257.00
TV/Media/Internet/Telephone: £81.00
Cleaner: £70.00
Management: £0.00 (not listed)
Total Monthly Expenditure: £848.00
Annual Expenditure: £10,176.00
Net Annual Income: £71,772.00 (calculated as Total Income - Total Expenditure)
Gross Yield: 11.07% (calculated as Annual Income / Asking Price)
The room rates and expenditure figures are based on current data. The property's financial performance indicates a gross yield of 11.07%, reflecting its potential as a valuable investment. This financial summary does not account for potential vacancy periods or additional management costs not listed, which could impact net income and yield calculations.
HMO Sales Expert are specialists within the HMO and multi-unit marketplace across the UK. Our experienced team has a combined 100+ years of specific HMO experience including investing, managing, developing, valuing and selling. Every property is exclusively listed, direct to landlord, visited and quality-checked by our team and is sold with NO BUYER FEES or reservation costs. Full access to every financial detail and a pro-active and time-served team to assist you.
Gross Yield: 11.07%
Area Description
Investing in Houses of Multiple Occupation (HMOs) in Swindon presents an attractive proposition for both seasoned and novice property investors due to several compelling factors:
Strong Tenant Demand: Swindon's growing population and status as a hub for professionals make HMOs particularly appealing. The town attracts a variety of tenants, including young professionals, key workers, and corporate tenants, driven by its economic opportunities and educational institutions.
Robust Local Economy: Home to major employers like Nationwide Building Society, Intel, and the UK Space Agency, Swindon boasts a strong job market. This economic stability ensures a consistent demand for quality rental accommodation.
Excellent Transport Links: Swindon's strategic location on the M4 corridor provides superb connectivity to major cities like London, Bristol, and Reading. The Swindon railway station further offers frequent services to Paddington, enhancing its appeal to commuters.
High Investment Yields: The competitive property market in Swindon allows for high rental yields, particularly for HMOs, which often offer better returns than standard buy-to-let properties due to multiple income streams.
Capital Growth Potential: Swindon has shown promising capital growth in the housing sector, with ongoing developments and infrastructure improvements adding to the town’s growth trajectory.
Quality of Life: With attractions like the Steam Railway Museum, Lydiard Park, and the Designer Outlet, Swindon is not only a place to work but also to live and relax, increasing its attractiveness to potential tenants.
Educational Pull: The presence of institutions like New College and Swindon College and plans for a new Institute of Technology enhances the town's educational appeal, drawing students and academic professionals seeking accommodation.
Government Investment: Ongoing investments into local projects and infrastructure, including the regeneration of the town centre and cultural quarters, signal a long-term commitment to the area's development, suggesting sustained growth and property value appreciation.
Additional Details
- Bedrooms: 10 Bedrooms
- Bathrooms: 10 Bathrooms
- Receptions: 1 Reception
- Ensuites: 10 Ensuites
- Kitchens: 2 Kitchens
- Tenure: Freehold
- Rights and Easements: Ask Agent
- Risks: Ask Agent
Broadband Speeds
- Download: 15mbps - 1800mbps
- Upload: 1mbps - 1000mbps
Estimated broadband speeds provided by Ofcom for this property's postcode.
Features
- Strategic Location: Situated adjacent to Faringdon Park and just a short walk from Swindon's bustling city centre and major amenities.
- Exceptional Income Potential: Generates an annual rental income of £81,948, offering a robust gross yield of approximately 11.07%.
- High Tenant Demand: Maintains a 99% occupancy rate, appealing predominantly to working professionals.
- Luxury Accommodations: Features 10 high-standard en-suite rooms, including a studio, each with modern fixtures and neutral decor.
- Substantial Investment: Over £300,000 invested in transforming the property from a former commercial space into a leading HMO.
- Excellent Facilities: Includes two well-equipped kitchens, guaranteed superfast broadband, and off-street parking for two vehicles.
- Seamless Transport Access: Exceptionally well-connected with Swindon Bus and Train Stations nearby, facilitating easy commutes.
- Ready-to-Manage Investment: The property is fully managed, with the option for transitional support to the new owner, ensuring a seamless handover.
Enquiry
To make an enquiry for this property, please call us on 0330 4415 888, or complete the form below.
