An unusually large property in Coventry with 19 bedrooms is appearing at Bond Wolfe’s next auction.
What were originally two terraced homes at 27 Westminster Road and 15 Regent Road now operate as one fully licenced house of multiple occupancy.
Located to the south-west of Coventry’s ring road, the property is currently bringing in rents of £68,820 per annum and will come to the auction with a guide price of £680,000-plus.
Jonathan Hackett, a consultant director at Bond Wolfe, said the sale of the freehold property is subject to a lease that still has nearly five years remaining, with tenants responsible for all utility bills.
Hackett said: “This is an unusual but highly valuable HMO investment which could bring an attractive yield of up to some 10%, based on the guide price.
“The ground floor opens into a hall with access to a cellar, which is used as a laundry room, two interconnected kitchens, a communal reception room, communal bathroom and two communal toilets, and eight bedrooms, some with en suite facilities.
“The property, which has a shared rear yard and driveway parking, comes with emergency lighting, mains smoke alarms and is furnished, with all furniture to be included in the sale.”
The HMO property is among scores of properties due to appear in Bond Wolfe’s next auction which is due to start at 9am on 14 December.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.
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