Huge 16-bed Gillingham guest house offers excellent HMO opportunity

This 16-bedroom former guest house on Gillingham Rd, Gillingham, came on the market on Wednesday (May 24) and it is an ideal HMO investment opportunity.

It is being advertised for offers over £800,000, which is of course a high price – but there is profit to be made here.

gills

This sizeable property has lots of potential, but it would be a big project to take on.

Rents in Gillingham range from £400-£550 for double rooms, so this property could produce a monthly cashflow between £6,400 to £8,800+ (on 16 bedrooms, even more could be achieved).

floorplan

It would require necessary planning permission, and any purchaser would have to factor the cost of waiting for that planning alongside professional fees. The property requires substantial refurbishment, but it could be a very profitable venture for someone willing to take the work on.

A commercial revaluation could be possible at the end of the project, allowing the investor to draw out initial money put in.

If you need any advice on property investing, refurbishment or lettings, please feel free to call me on 07944 726676 or email me at hasan@bullfinchproperties.co.uk.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s