This impressive seven-bedroom, Grade II listed building presents a noteworthy opportunity for investors looking to capitalize on its renovation potential. The property, which has attracted student groups due to its spacious double bedrooms and attractive high ceilings, is situated in a prime central Bangor location. It previously held an HMO licence for seven occupants and could potentially have this reinstated with appropriate council approval.
Spanning four floors, the current layout includes seven double bedrooms, two shower rooms, a lounge, a utility room, and a communal kitchen, all benefiting from gas central heating. However, it is clear that the property requires comprehensive refurbishment and modernization to reach its full potential. By pursuing a high-standard renovation—potentially incorporating en-suite facilities—there is significant scope to enhance both living quality and rental returns.
As a reference point, similar properties fully renovated in the area have recently achieved gross annual rents exceeding £57,000. This underscores the strong income possibilities following effective renovations tailored towards the student and professional rental markets. Conveniently located near the university and various amenities, this property is ideally positioned to cater to high demand from prospective tenants.
