Good day Medway Property News readers. I hope you are all keeping well and are happy that the weekend officially brought us into summertime.

Today’s blog post is an investor alert for a property with an enormous amount of potential for a HMO investment. 

The property is on Windmill Road, Gillingham adjacent to Medway hospital. This excellent location is a popular rental location for healthcare professionals working at the hospital. Here’s a link to it.

As you can see from the floor plan 6 en-suite bedrooms could be possible, and that’s without a loft conversion, so 7 bedrooms may work with the necessary planning permissions.

If made into en-suite bedrooms they would most likely rent between £600-800+ depending on quality of renovation and finish, therefore could bring in an annual gross rental income of £43,200 to £57,600 per year as a 6 bedroom HMO (this would be more if you converted it into 7 bedrooms).

Of course, the renovation costs will have to be factored into the numbers when calculating the profitability of the property as an investment. Having a good builder on hand is crucial in order to anticipate these costs, so I would recommend keeping them involved when viewing this or any property.

As you may or may not know, I own a HMO management agency that was established in 2015 and in that time we have let rooms to thousands of tenants as well as managing refurbishments of several HMO projects.

If you would like to chat about this property, or any other investment, please feel free to reach out to me at hasan@home-share.co.uk

Hasan