The properties, located at Jarret Street and Gill Street respectively, are a great find in that they offer the opportunity for conversion into an 18 unit HMO property.
The Jarret Street property is currently rented out as a house share and the property on Gill Street is a derelict building which has planning permission to be demolished in order to construct a six unit property.
One of the attractions of this deal is that the purchaser will be able to maintain an income from the Jarret Street property whilst demolition and rebuilding is under way on the adjacent building.
The Jarret Street property is currently rented out as a 6-bedroom house share but has the potential to be converted into 12 HMO units.
The properties are located within a five minute walk of Doncaster town centre and its railway station. There are plenty of employment opportunities for would-be tenants as the area is surrounded by factories and light industry.
Empire Property Concepts believe that the overall gross yield potential of both properties will be 19.1%. The overall purchase, development and fee across both properties is £495,000.
Commenting on the opportunity, Paul Rothwell of Empire said, “Between them these two properties offer a number of options and have the great advantage that each will deliver an income whilst the other is under development.”
For more information on these properties, contact the team at Empire Property Concepts on 01302 564263.