Milton House, Spencer Road Bedford

This is a unique opportunity to acquire two connected Victorian-style semi-detached houses situated in the desirable Poets Quarter of Bedford. Currently configured as twelve bedrooms with shared facilities, there exists substantial potential for development, allowing for an increase to up to fifteen bedrooms while maintaining communal living spaces. Pre-planning applications have been lodged for conversion into a fifteen-bedroom House in Multiple Occupation (HMO) and for transforming the properties into six flats, featuring four one-bedroom and two two-bedroom units. Successful purchase will require obtaining full planning permissions. Currently, the properties generate an estimated rental income of £8,400 per month, which could rise to approximately £10,500 with the additional rooms. The buildings retain their historic charm and offer off-road parking for four vehicles, along with two permit spaces on the street. An attractive front garden and rear courtyard enhance the overall appeal. Located conveniently close to Bedford town centre and essential transport links, this property stands out as a lucrative rental investment due to its high demand among professionals and students. This opportunity presents various exit strategies including HMO development, flat conversions, or high-end co-living arrangements, promising significant capital growth and robust rental yields. Such opportunities that combine flexibility, scale, and prime location are exceptionally rare.