Property expert, Paul Rothwell, of Empire Property Concepts has selected a Doncaster property on Bentley Road as his recommended deal of the month for November.
The property offers a flexible investment opportunity and includes both commercial and residential elements. Based on Paul’s HMO model he believes the property would deliver a gross yield of 22.4%.
On the market at £180,000, the development cost of the property is estimated at £220,000 and once developed, would offer 16 HMO studio units along with two office units.
Commenting on the property, Paul said, “This is a substantial building and comprises a retail unit at the front with ancillary storage and warehouse accommodation and a one bedroom flat on the first floor.
“My recommendation would be to use the upper floors and the rear part of the property as residential and apply to the council to use the current retail space as two lock up offices. Each unit would produce in the region of £100 per week.
“One of the things I like about this property is that it has established residential and commercial usage. If demand for office space were to grow in the area than the residential studios could be easily converted into offices – so it’s really flexible.”
The property is located in a predominately residential area with a number of commercial properties in the immediate vicinity.
Empire Property Concepts offers a full consultancy service, assisting clients looking to acquire high-yielding property assets. Clients are given advice on which property to buy and in which area and, most importantly, how much to pay. They then advise on what development work is required and also offer expert guidance on council regulations and any required planning applications.
Empire also introduce clients to their strong network of local builders and letting agents.
Commenting on the service, Paul says, “Some of our clients already have significant property portfolios which they are looking to increase and we also deal with individuals looking to start a portfolio.
“The great thing about our service is that we are a small team of highly experienced individuals. Many of our clients come to us because of our strong track record and the fact that we can offer them a hands on learning experience.”
For further information, please see our deals page.