8 ROOM HMO DEVELOPER LEASE OPPORTUNITY
Instruction prospect
8 beds | 8 baths | Price Guide £180,000 Having knowledge of the purchase price allows you to calculate the overall expense incurred in acquiring the property. Read our glossary page
- Developer Lease Opportunity
- 8 Room HMO
- Hendon Central
- 8 Minute’s Walk to Hendon Central Tube Station
- Bordering Brent Cross Shopping Centre
- Close to Middlesex University
- All Terms Negotiable
Material Information
Council Tax A fee submitted to your local authority to cover expenses related to local amenities such as schools, libraries, and waste management. The payment amount is determined based on the property's value. Read our glossary page
Tenure Explains the various forms of property ownership, including freehold, leasehold, and commonhold, and how they determine your rights and responsibilities as a property owner. Read our glossary page :
A unique investment opportunity is available to secure a negotiated long lease on a partially completed Semi-Detached HMO Development.
· The property is a 8 bedroom HMO development
· Also has an annex in the rear with two further rooms
· The estimate obtained to complete the project is £180,000
· The duration estimated to complete the project is 6 Months
· The freeholder is offering a “Developer Lease” to a willing Investor to complete the project
· The freeholder is open to adding to the agreement terms to protect the investors capital investment as well as guarantee a minimum return.
· Once the scope and specs of works are agreed, the Lessee will have project autonomy.
· Once the project is complete, the Lessee will collect all rental income for the duration of the Lease.
· Once the Lease term is expired, as long as all terms have been fulfilled by both parties, the lease will terminate.
100% Occupancy Estimated Annual Rental Income (Not Including Two Bedroom Annex) - £96,000
100% Occupancy Estimated Annual Rental Income (Including Two Bedroom Annex) - £117,600
Components to be negotiated in determining number of years to be granted
1. Final Build Completion Cost: Fixed (to be agreed by both parties prior)
2. Rent Payments to Freeholder: a) Amounts payable i.e. Fixed or structured
b) Date for Commencement of Rent Payments
3. Potential Income from the Two bed Annex
p.s
· The freeholder would also consider an outright Financing Arrangement without a Lease Arrangement.
· The owner will not consider selling the property at the moment
https://publicaccess.barnet.gov.uk/online-applications/applicationDetails.do?keyVal=QHPTGOJILDI00&activeTab=summary
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