18 Springfield Road, Leicester

Description

A substantial period property offering 12 bedsit flat which are fully let with a gross income of £72,168 per annum. The property has a HMO license for 13 occupiers. All flats are let inclusive of all bills.

Accommodation

12 Bedsits / Letting Rooms arranged over 3 floors with 2 communal kitchens and 3 communal bathrooms. Pleasant shared garden to the rear. Flat 1 - £430 pcm; Flat 2 - £525 pcm; Flat 3 - £495 pcm; Flat 4 - £500 pcm; Flat 5 - £440 pcm; Flat 6 - £590 pcm; Flat 7 - £500 pcm; Flat 8 - £530 pcm; Flat 9 - £490 pcm; Flat 10 - £505 pcm; Flat 11 - £525 pcm; Flat 12 - £505 pcm. Total Income £72,168 per annum.

Location

Situated in a highly desirable location with a great range of amenities along Queens Road and excellent transport links along London Road. Victoria Park, Train Station, Leicester University and City Centre are all within walking distance.

Tenure / Property Information

Investment Analysis

The £485,000+ guide equates to a 14.88% gross income yield on the stated £72,168 annual income, before bills, management, maintenance, finance, tax and other costs. The sold evidence is limited and not directly comparable: the Springfield Road transactions include leasehold flats at £120,000–£146,000 in 2025 and a freehold transaction at £540,000 in 2018, but no evidence establishes the value of this 12-bedsit freehold or its tenure. No supported GDV or market-yield benchmark can therefore be established.

Investment Snapshot

Strategy Recommendation

Consider as an income-led BTL investment only, subject to verifying tenure, leases, HMO licensing, bills, occupancy, accounts, compliance and all special-condition fees. Do not rely on a flip or BRRR strategy without further valuation and cost evidence.

Works Required

No specific refurbishment works or defects are evidenced. Verify condition, communal areas, services, licensing and compliance before bidding; no works allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is unsupported because no GDV, refurbishment budget, tenure details, lending assumptions or refinance valuation evidence is provided. The stated income may support an investment case, but refinance proceeds and cash left in cannot be calculated reliably.

Buy-to-Let Analysis

The property is stated to be fully let at £72,168 gross per annum, equivalent to £6,014 pcm, inclusive of all bills. This produces a 14.88% gross yield on the £485,000 guide and approximately 14.36% after adding the stated 3.6% buyer premium of £17,460. Net yield cannot be established because bills, operating costs, management, maintenance, finance, tax and other auction fees are not supplied.

Flip Analysis

A flip appraisal is not supported. No condition-based works budget, market GDV or selling-cost allowance is evidenced, so any resale surplus would be speculative.

Investor Risks & Due Diligence

• The £72,168 figure is gross income and includes all bills; net profitability cannot be calculated.

• The HMO licence permits 13 occupiers, while 12 bedsits/letting rooms are described; licensing scope and compliance should be verified.

• Tenure, leases and the legal ownership structure are not supplied.

• Additional fees may appear in the Special Conditions of Sale and are not quantified.

• No condition, refurbishment, EPC, heating, council tax or operating-cost information is provided.

• No sufficiently specific external rental comparable or market-yield evidence is available.

• The sold comparables are limited and include leasehold flats and an older freehold transaction, so they do not establish this property's market value.

Recommendation

Consider as an income-led BTL investment only, subject to verifying tenure, leases, HMO licensing, bills, occupancy, accounts, compliance and all special-condition fees. Do not rely on a flip or BRRR strategy without further valuation and cost evidence.

Strategy Rating

Analysis Confidence

The current stated rent, occupancy, guide price and buyer premium are available, but tenure, operating costs, condition, EPC, external rental comparables, GDV evidence and additional auction fees are missing.