Riley Road, Brighton

The Details

Floorplans Fees apply: Our fees Council tax band: C Property ref: 12324359

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• 4 Bedroom tenanted HMO
• Tenancy until Aug 2025
• Gross rental of £2,635 pcm / £31,620
• 8% gross yield PA
• Potential to develop further
• Certificate of lawful use as C4 dwelling held
• EPC: D
• Council Tax: C

Positioned in one of the City’s most popular rental locations, this 4 bedroom HMO represents a sounds and attractive investment. Offering lucrative returns, but with minimal hassle and upkeep, the property also benefits from options to further develop to increase both rental and capital value.

Riley Road is a tree lined terraced street between Coombe Road and Bear Road. Located within walking distance to Brighton University and bus and train links to Sussex University and the City Centre, the area has long been one of the most sought after student rental spots. This is evidenced by the property having been continuously let to student sharers for more than a decade, often being amongst the first properties to let ahead of each academic year, and at ever improving returns.

A current fixed term AST runs until August 2025, returning a gross rental of £2,635 pcm / £31,620 PA, which produces an 8% yield in the firs year. Coapt let and/or managed 10% of all student HMOs in the city, and have implemented an average of 12% rental rises in the last year. Similar growth is anticipated for well located properties such as this for the next several seasons.

As well as performing very well in its current format, this property holds potential to be developed further for increased rental return and to lift property value, subject to relevant consents. As evidence by the same project having been carried out just next door, the loft space can be converted, with two additional rooms added. Please enquire further in order to discuss this option and anticipated cost and returns.

The property is very well suited for purpose, and further benefits from holding a certificate of lawful use as a C4 HMO. This Document supports in the swift acquisition of mortgage products for the house. There is also a Positive Air Flow unit installed in the loft space. This unit creates constant low level air recycling and filtering, greatly removing the risk of condensation build up that is usually associated with HMO tenancies.