Located in a well-regarded area of Leicester, this traditional three-bedroom terraced house offers substantial potential for transformation into a comfortable family residence or an investment asset. The property is in need of comprehensive modernization throughout, making it ideal for those eager to personalize their living space and enhance its value. With ample internal layout and size, the opportunity exists to significantly upgrade this home.
The exterior features a rear garden, adding further appeal to this property which is conveniently situated near local amenities, educational facilities, and transport options.
For investors, this property stands out as a promising development prospect. Planning permission has been granted for a double-storey extension that would allow the conversion into a six-bedroom, six-bathroom House in Multiple Occupation (HMO). This layout is specifically designed to maximize rental yield by meeting HMO standards with:
- Six bedrooms, each with en-suite bathrooms.
- A shared kitchen and living area tailored for communal living.
With planning already approved, the groundwork has been laid for an attractive project aimed at capitalizing on robust rental demand in Leicester. Based on local market comparisons, similar fully occupied six-bedroom HMOs can command rents between £600 and £700 per room monthly. This suggests a potential gross annual revenue ranging from approximately £43,200 to £50,400 after completion.
Overall, this property provides a unique opportunity for both homeowners wanting to put their stamp on a new space and investors looking for strong returns in an active rental market.
