7 Berridge Road, Nottingham, Nottinghamshire, NG7 6LX

Description

Fully licensed six bedroom HMO near the centre of Nottingham. Gross income of over £42,000 per year. The property has six bedrooms, three bathrooms, two kitchens, a dining room, a laundry room and a garage, and is approximately 194 m2. Further features include a rear garden and a rear driveway.

Accommodation

Ground floor: 2 bedrooms, dining room, kitchen and laundry room. First floor: 2 double bedrooms and 2 bathrooms. Top floor: 2 double bedrooms, kitchen and bathroom. Spacious cellar below.

Location

Approximately 10 minutes' walk to Nottingham city centre, with great transport links across the city and beyond. Located in Forest Fields, close to amenities and Forest Fields recreation ground.

Tenure / Property Information

Investment Analysis

The only directly identified completed comparable is 9 Berridge Road at £251,000 in January 2018. It is not confirmed as a six-bedroom HMO and is now dated, so it does not support a reliable current GDV. The £340,000 guide is therefore not independently validated by the supplied evidence.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led HMO purchase after verifying the stated income, licensing, compliance, occupancy and legal pack. Do not bid above a separately established valuation because the supplied evidence does not support a reliable maximum bid.

Works Required

No specific refurbishment defects or works are evidenced. Allow for verification of condition, HMO licensing and compliance, EPC requirements, kitchens, bathrooms, fire safety provisions and the legal pack before bidding; no numeric works allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, refurbishment budget, financing assumptions or refinance valuation are provided. The £3,600 administration charge is known, but other possible charges and works costs are unspecified.

Buy-to-Let Analysis

The auctioneer estimates gross income of over £42,000 per year, equivalent to a conservative lower-bound figure of £3,500 pcm. Against the £340,000 guide, this indicates a lower-bound gross yield of approximately 12.35%. No sufficiently specific external rental evidence or operating-cost data is supplied, so net yield and sustainable rent cannot be established.

Flip Analysis

A flip surplus cannot be calculated because there is no evidence-supported GDV, refurbishment allowance or supported selling-cost allowance. The 2018 £251,000 comparable is insufficient to establish current resale value for this six-bedroom HMO.

Investor Risks & Due Diligence

• The stated income is an auctioneer estimate rather than verified passing rent or achieved rent.

• No sufficiently specific external rental comparable is supplied, and gross income does not establish net profitability.

• The property has an EPC rating of E, with no evidence supplied regarding improvement requirements or costs.

• No condition survey or refurbishment budget is provided.

• Additional search, seller, legal, transfer and other Special Conditions charges may apply.

• HMO licensing, fire-safety and other compliance details require verification despite the property being described as fully licensed.

• The only supplied local completed comparable dates from 2018 and is not confirmed as a comparable HMO.

Recommendation

Consider only as an income-led HMO purchase after verifying the stated income, licensing, compliance, occupancy and legal pack. Do not bid above a separately established valuation because the supplied evidence does not support a reliable maximum bid.

Strategy Rating

Analysis Confidence

The property description, tenure, guide, administration charge and auctioneer income estimate are supplied, but there is no current HMO comparable, achieved rental evidence, condition assessment, works budget, GDV or complete fee schedule.