615 Gloucester Road, Horfield, Bristol

Description

An imposing mid-terraced bay-fronted freehold period property with accommodation of 1,776 sq ft arranged over 3 floors, an enclosed rear garden, and overlooking Horfield Common. Arranged as a fully licensed 8-bedroom HMO with 3 bathrooms and a generous communal kitchen diner. Scope for basic updating.

Accommodation

8 bedrooms, 3 bathrooms, communal kitchen diner, accommodation arranged over 3 floors, and enclosed rear garden; 1,776 sq ft stated accommodation area

Location

Located on Gloucester Road in Horfield, overlooking Horfield Common. Local shops, convenience stores, pubs and cafes are nearby. The University of the West of England is less than two miles away, Bristol city centre is approximately five miles away, Southmead Hospital is within walking distance, and Filton Abbey Wood Train Station is a short walk away. Gloucester Road North has a regular bus service to the city centre.

Tenure / Property Information

Investment Analysis

The two most relevant completed sales are nearby freehold terraces at £542,500 (609 Gloucester Road, July 2026) and £575,000 (621 Gloucester Road, August 2026). The subject is an 8-bedroom, 1,776 sq ft HMO, but the comparables do not provide sufficient bedroom, condition or HMO detail for a precise adjustment. A cautious base GDV of £575,000 is used, with £542,500 as a low evidence-supported scenario. The £1,050,000 and £1,357,108 sales are recorded as 'Other' and are not used as direct comparables.

Investment Snapshot

Strategy Recommendation

Consider as an income-led HMO purchase only after verifying the single AST, actual rent receipts, licensing position and condition. Do not rely on a BRRR or flip exit until works and resale costs are quantified.

Works Required

Basic updating as described by the auction particulars. No detailed schedule, condition survey or refurbishment quotation is supplied, so the works scope and cost remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £575,000 base GDV, 75% refinancing equates to approximately £431,250. A meaningful cash-left-in calculation cannot be completed because the refurbishment cost and total acquisition cost are not supplied. The strategy depends on confirming the existing tenancy income and achieving the assumed GDV after only basic updating.

Buy-to-Let Analysis

The auctioneer states potential income of £72,000 per annum, equivalent to £6,000 pcm or £750 per room pcm. Against the £550,000 guide, this indicates a gross yield of approximately 13.09%. However, this is an auctioneer estimate rather than confirmed passing rent. The property is occupied by six students and two professionals under one AST from 3 August 2026, so the tenancy terms, rent schedule and payment history require verification.

Flip Analysis

A flip assessment is constrained by the absence of a refurbishment budget, selling-cost allowance and detailed condition information. The nearby completed sales support a broad value context around £542,500 to £575,000, but do not establish a reliable resale surplus for this HMO.

Investor Risks & Due Diligence

• The £72,000 figure is stated as potential income, not confirmed passing rent.

• The property is sold subject to an existing single AST, creating dependency on the tenancy terms and tenant payment performance.

• Refurbishment is described only as basic updating, with no quantified works budget or condition schedule.

• The comparable sales do not provide sufficient detail to confirm an HMO-specific GDV.

• The £1,800 buyer premium including VAT is payable on exchange and must be included in acquisition funding.

Recommendation

Consider as an income-led HMO purchase only after verifying the single AST, actual rent receipts, licensing position and condition. Do not rely on a BRRR or flip exit until works and resale costs are quantified.

Strategy Rating

Analysis Confidence

The property description, occupancy, auctioneer rent estimate, guide price, fee and nearby completed sales are supplied, but there is no detailed condition report, refurbishment budget, passing-rent evidence, comparable HMO data or selling-cost allowance.