6 bed terraced house for sale

Wiverton Road, Nottingham NG7

Investment hotspot! Prime HMO with huge potential

•£40,000+ annual income:* Currently generating a strong return with potential to increase!

•full 5-year HMO licence (Nov 2024):* A valuable asset for continued HMO operation.

• flexible tenancies (Ends Sept):* Choose to retain professionals or target the lucrative student market.

•development potential (STPP):* Scope for 8 bedrooms and a self-contained garden flat!

•prime forest fields location:* Near Nottingham Trent University & City Centre = High Demand.

Purple Bricks are delighted to bring to market a truly outstanding investment opportunity: A beautifully presented and exceptionally well-maintained terraced house operating as a successful *6-bedroom property* in the highly desirable Forest Fields area of Nottingham. *The property currently benefits from a full 5-year HMO licence, granted by Nottingham City Council in November 2024.*

*Secure a High-Yielding Investment with Flexible Tenant Options:*

This property currently generates a robust income stream of just under *£40,000 per annum*, providing an attractive return from day one. The existing tenancy agreements with reliable young professionals are concluding in September, presenting a valuable choice for the new owner.

*Capitalise on the Student Market:*

The property's prime location near Nottingham Trent University offers a significant opportunity to market it to full-time students from September onwards. This strategy could potentially unlock *higher rental yields* and the benefit of *council tax exemption*, further enhancing the property's profitability.

Property Description

*A Property Currently Licensed for HMO Use:*

A significant benefit is that the property *currently holds a full 5-year HMO licence* from Nottingham City Council (valid until November 2029). *While HMO licences are not directly transferable, this existing licence demonstrates the property's suitability for operation as a House in Multiple Occupation and could streamline the process for a new owner seeking their own licence, subject to their application and compliance with current regulations.*

*Flexible Living Spaces with Expansion Potential (Subject to Planning Permission):*

The property features six well-proportioned bedrooms, three bathrooms, a large reception room, and a spacious open-plan modern kitchen diner. A gorgeous entrance hallway and beautifully maintained yard add to its appeal. Furthermore, with minor alterations, the property offers the exciting potential to be converted into an *8-bedroom HMO*, increasing its earning capacity (subject to obtaining the necessary planning permission).

*Uncapped Potential in the Basement (Subject to Planning Permission):*

The property boasts a full ceiling height basement, currently utilised as a home gym and utility room. This substantial space presents a fantastic opportunity for conversion into a *separate, self-contained garden flat (subject to securing the required planning permission), * offering an additional income stream and increasing the property's overall value.

*Immaculately Presented and Ready for Immediate Investment:*

The current owners have significantly improved the property, ensuring it is presented in *immaculate condition.* This minimises the need for immediate renovations and allows for a smooth and hassle-free investment. The property can also be offered fully furnished (subject to negotiation), further simplifying the management process.

Location

*Prime Location in a High-Demand Area:*

Located in the sought-after Forest Fields, this property benefits from its proximity to Nottingham Trent University and the City Centre. This ensures consistently high tenant demand and provides easy access to a wide range of amenities, including shops, restaurants, and excellent transport links. *The approaching end of the current tenancies offers a strategic advantage for investors looking to target either the existing professional tenant base or the lucrative student market.*

This is a rare opportunity to acquire a high-performing investment property that is currently licensed for HMO use, offering flexible tenancy options and significant potential for increased returns. Please note that the potential for an 8-bedroom configuration and the creation of a garden flat are subject to obtaining the necessary planning permission from the local authority.

Don't delay – contact Purple Bricks today to arrange your viewing and secure this exceptional property!

Property Ownership Information

Tenure

Freehold

Council Tax Band

B

Property Description Disclaimer

This is a general description of the property only, and is not intended to constitute part of an offer or contract. It has been verified by the seller(s), unless marked as "draft". Purplebricks conducts some valuations online and some of our customers prepare their own property descriptions, so if you decide to proceed with a viewing or an offer, please note this information may have been provided solely by the vendor, and we may not have been able to visit the property to confirm it. If you require clarification on any point then please contact us, especially if you’re traveling some distance to view. All information should be checked by your solicitor prior to exchange of contracts.

Successful buyers will be required to complete anti-money laundering and proof of funds checks. Our partner, Lifetime Legal Limited, will carry out the initial checks on our behalf. The current non-refundable cost is £80 inc. VAT per offer. You’ll need to pay this to Lifetime Legal and complete all checks before we can issue a memorandum of sale. The cost includes obtaining relevant data and any manual checks and monitoring which might be required, and includes a range of benefits. Purplebricks will receive some of the fee taken by Lifetime Legal to compensate for its role in providing these checks.