22 Bedroom House For Sale in - £1,250,000
22 Bedroom HMO
Let at over 90% occupancy
Approx. 8% yield
Well maintained throughout
development potential in grounds
Great investment opportunity
Mill House, is a substantial detached property situated just outside Faversham town centre, offering excellent access to all local amenities.
The property is a former care home that has been re-modelled into a modern House of Multiple Occupation (HMO) with all necessary licences. The current layout is; 22 rooms (some en-suite) let to single, working tenants with shared kitchen, laundry and bathrooms. The accommodation has been well maintained and updated in recent years and this is a fantastic turn-key investment with an approx. 8% yield.
Outside, the property stands in generous gardens with lots of off road parking and a useful outbuilding. Plans have been drawn up (but not submitted) for the development of some of this space to provide room for 2 further properties to be constructed.
Viewing s strictly by appointment and only after due notice has been served to tenants.
Total SDLT due
Below is a breakdown of how the total amount of SDLT was calculated.
Up to £125k(Percentage rate 0 %)
Above £125k and up to £250k (Percentage rate 2 %)
Above £250k and up to £925k (Percentage rate 5 %)
Above £925k and up to £1.5m (Percentage rate 10 %)
Above £1.5m (Percentage rate 12 %)
Up to £300k(Percentage rate 0 %)
Above £300k and up to £500k(Percentage rate 0 %)
IMPORTANT NOTICE
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
