Park Crescent Road, Brighton

The Details

Floorplans Fees apply: Our fees Property ref: 12487687 Council tax band: C

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• 4 bedroom HMO
• £34,320 Rental income for 2024-25
• 7.6% gross Yield for the first year
• Anticipcated rental growth between 5-10% year on year
• Options to further develop into a 6 bedroom HMO (Subject to consent)
• Potential for 9%+ gross yield as a 6 bedroom property
• EPC: D
• Council Tax Band: C
• Asking Price: £450,000
• Please enquire for further details on development potential

An attractive and well-furnished 4 bedroom student property just off of Lewes Road in central Brighton. It is rare for property to become available in such a highly sought after rental location. The property offers excellent long term security on investment, promising high yields and capital growth, whilst also retaining the options to add further value with development.

Positioned directly between both Universities and the City Centre, Park Crescent Road and the surrounding area has long been considered the single most desirable rental location for Students in the City. This allows for competitive rents at the peak of the local market, whilst also guaranteeing long term security of the investment, with strong re-sale options also.

The current tenancy commenced in summer 2024 and runs until August 2025, with a monthly rental of £2,860 pcm, equating to £34,320 annually, and therefore a 7.6% gross yield in the first year. Between the 2023-24 and 2024-25 academic year, Coapt Lettings have seen an average increase in HMO rent of 12%. This growth is expected to be maintained in future years also.

Further to being a secure and lucrative rental for the future, the property also holds options to add further value. A common approach on the road is to convert the loft space, subject to planning consent, adding a further two rooms for a total of 6 bedrooms. If further investing to improve the aesthetic of the existing footprint of the property, there is the opportunity for the property to become one of the highest yielding properties in the county. Based on an anticipated development cost of £150k, and potential rental as a high spec 6 bedroom house at £56,160, creating a total yield of 9.36% including purchase and work costs. This option makes the property attractive to investors keen to add value immediately, or to have the flexibility to further invest in the property at a later date.