A property that is described as a ‘HMO investment’ in north Bristol will be sold at an auction next month with a guide price of £550,000. The property is located at 17 Crome Road, in Lockleaze, and contains seven bedrooms and five bathrooms.
The property is a semi-detached home which was converted into a HMO in 2021. Including seven bedrooms, the HMO contains an enclosed rear garden, suitable parking and bike storage.
The property includes an open-plan kitchen which is suitable for modern standards, with a lounge area, and three bedrooms and two bathrooms completing the ground floor. The first floor comprises four bedrooms, three bathrooms and a laundry room.
Currently, the HMO is let out to students and there is a let agreed for the next academic year (2025-2026). The Hollis Morgan listed property suggests that it is ideal for students from the University of the West of England due to its location.
Hollis Morgan calls the seven bedroom property a ‘HMO investment’ within the listing. Per annum, the property generates £5,250 per person for a total of £63,000 per annum, inferring that the property could house 12 students at a time. These figures are exclusive of bills, which are covered by the tenants.
The guide price of the HMO is £550,000, which may change prior to the auction on February 12. The guide price represents the minimum acceptable value for the property to be bought.
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