17 Bed HMO plus 2 bed Bungalow

Talbies are pleased to present this unique opportunity to purchase a newly refurbished, 17 bedroom HMO property PLUS 2 bedroom detached bungalow

Situated only 5mins walk from Bedford Station and only 10mins walk from Bedford Town Centre, this stunning former hotel is perfectly positioned for local workers. Plus with Bedford growing as a commuter town due to its great links to London and surrounding areas, the rental market here is strong!

The main building itself boasts 5,635sq ft and currently consists of 17 bedrooms (ALL EN-SUITE); 6 of these being fully self-contained with kitchenettes. There are 2 large communal kitchens plus an additional tea room, 2 laundry rooms and all of this sits on a large plot that also provides ample parking and further development potential. Within the plot also sits a coach house as well as a detached 2 bed bungalow with private garden.

Remuneration:

Currently, whilst fully occupied, the properties generate £122,000pa (not including parking that can be charged for)

Development Potential:

Planning permission has already been sought and granted for:

Converting the bungalow into 5 x 1 bedroom flats

Converting the coach house into a standalone 2 bedroom maisonette

Converting 1 laundry room into another self-contained studio

Approx. additional revenue from the above would be £60,000pa

There is also approval for change of use to C1 usage (short let), if desired.