Hardwick Street, Derby, Derbyshire

HMO Sales Expert are specialists within the HMO and multi-unit marketplace across the UK. Our experienced team has a combined 100+ years of specific HMO experience including investing, managing, developing, valuing and selling. Every property is exclusively listed, direct to landlord, visited and quality-checked by our team and is sold with NO BUYER FEES or reservation costs. Full access to every financial detail and a pro-active and time-served team to assist you.

Located in the vibrant city of Derby, 37 Hardwick Street has undergone an extensive £185,000 back-to-brick refurbishment, transforming it into a high-spec, fully compliant C4 HMO. The property boasts six well-appointed rental units, including four full studios with private cooking facilities and two en-suite rooms sharing a kitchen, all fully furnished and tenanted. This property is positioned ideally to benefit from the strong local demand driven by major employers such as Bombardier, Rolls Royce, and Alstom, with a solid income of £4,230 PCM.

This prime real estate is in a key location with excellent transport links, including proximity to Peartree and Derby Rail Stations, and easy access to the M1 and M42 motorways. Local amenities enhance tenant living, with ultrafast broadband, excellent mobile coverage, and a range of educational institutions nearby. The impending introduction of Article 4 restrictions adds investment appeal, securing the property’s value as future HMO conversions will be limited.

Offered at £425,000, a £25,000 reduction from its 2024 RICS valuation of £450,000, 37 Hardwick Street represents an exceptional opportunity. The property includes a detailed video walkthrough featuring an interview with the developer, showcasing the thoughtful design and investment potential. For savvy investors, this property offers not only immediate income but also long-term growth potential in Derby’s competitive housing market.

Income Breakdown (Monthly):

Studio 1: £750.00
Studio 2: £800.00
Room 3: £805.00
Studio 4: £550.00
Room 5: £525.00
Studio 6: £800.00

Total Monthly Income: £4,230.00

Annual Income: £50,760.00

Expenditure Breakdown (Monthly):

Gas: £160.00
Electric: £190.00
Water: £55.90
Council Tax: £140.00
Gardener: £20.00
Broadband: £39.60
Cleaner: £66.00
Management: £501.00

Total Monthly Expenditure: £1,172.50

Annual Expenditure: £14,070.00

Net Annual Income: £36,690.00 (calculated as Total Income - Total Expenditure)

Gross Yield: 12.23% (calculated as Annual Income / Asking Price)

Net Yield: 8.84% (calculated as Net Annual Income / Asking Price)

Commentary:
The studio and room rates along with expenditure figures are based on current data. The property's financial performance indicates a gross yield of 12.23% and a net yield of 8.84%, reflecting its potential as a solid investment. This financial summary does not account for potential vacancy periods or additional management costs not listed, which could impact net income and yield calculations.