Sheppard Street Project
Conversion of a 3 storey mid-terraced house into a 6-bed HMO.
Transport
The closest bus stop is just 2 mins walk away from the property. The property is only 5 mins away from the Stoke train station, which has direct connection to Manchester.
Value Uplift
This 4-bed house has been converted to 6-bed and is complied with all the council's HMO regulations. It could achieve a gross rental income of £24,960 annually.
Works Carried Out
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Removal of 1st flooring
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Install damp proofing on the ground floor walls
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Install fire alarm system and fire panel
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Joinery works
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Full decoration
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New furniture
Refurb Time: 9 weeks
Background
The vendor was looking to move out of his home and begin his other venture. He himself is also a property investor and understands how the property market works. The property was in good cosmetic condition. We made use of creative finance to take control over the property with very little money down, and at the same time the vendor doesn’t need to sell at a discount, which was a true win-win.
The Area
The entire area of Stoke-on-Trent is undergoing multi-million regeneration schemes both from the commercial as well as residential side. The University of North Staffordshire has also gone through a very large expansion, making Stoke University one of the biggest Universities in the area.
The Penkhull area in particular is most desirable for professional and working people due to its ‘homely’ atmosphere and close to town centre and amenities.
Amenities
The Royal Stoke University Hospital is 6 mins away from the property, the next supermarket is only walking distance. King’s Hall and Stoke Town Hall, where performances sometimes take place, are only 5 mins away.
