Michael Moore, Moores Senior Partner, says:
“The rental income is fairly low for the size of the bedrooms, especially as there’s a fourth room for storage or for use as a study or games room. I believe it could let for over £80 pppw with some further cosmetic improvements. I’m typically seeing rents of £80-£85 as this end of Hyde Park becomes more and more popular. Rather than try and let the house as a 4 bed, I’d be inclined to make the first floor bedroom en suite and add another bathroom for the two top floor rooms – or just have two bathrooms between three. This would undoubtedly increase the rental value and, per se, the capital value. If an additional bathroom added £5 pppw to the rent, the return on capital would be around 15% – where can you get that sort of return on £4,500-£5,000 invested?”
Michael Davies, the Associate Partner at Moores looking after this sale, says:
“This is the lower end of Hyde Park, close to Burley Road, very popular with students being within walking distance of the city centre and the universities and with Cardigan Fields being less than 10 minutes walk away (gyms, cinema, pubs, restaurants, etc). This works really well as a 3 bed but there’s potential for 4 lets with some further investment – at the moment the house doesn’t need an HMO licence for 3 or 4, although that may change in the future. It should be a good earner as a long-term 3 bed,”
From the centre of Headingley at the junction of the A660 Otley Road and North Lane, follow North Lane around, past Sainsbury’s on your right, and at the traffic light junction turn left into Cardigan Road. Proceed along Cardigan Road towards Kirkstall Road. After approximately half a mile along Cardigan Road, just after Milfords Merchants on the right, turn left into Alexandra Road in front of the BP filling station/Subway. Continue across Thornville Road at the junction and continue along Alexandra Road with the children’s playground on the right. Autumn Street can then be found on the right with this property immediately on the right-hand side.A brief history of this area
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