4 bedroom House 51 Hill Street, Bangor

Summary

This tastefully decorated four-bedroom HMO, currently leased as a three-bedroom for the 23/24 academic year with occupants in place until 30/06/2024, generates a total NET rent (excluding utility bills) of £13,260.54. It will be sold with all existing furnishings and fittings, which were replaced three years ago. It has a well-established history of occupancy spanning nine years, with Varsity serving as the managing agent throughout this period. In previous years, the property was rented as a four-bedroom house. Compared to other four-bedroom properties on the same street, which rent for an average gross amount of £21,618.26, there is potential to increase future income. This potential is bolstered by the university's consistent annual enrollment of approximately 9,000 full-time students. The property's location is highly advantageous, being just 300 meters from the main university campus, Main Arts, and surrounded by various amenities, including shops, bars, cafes, restaurants, and a supermarket. It is a highly sought-after student area with consistently high occupancy levels.