Bootham Crescent, York - £700,000 - Freehold

A substantial Victorian townhouse currently operating as a six bedroom HMO, with planning permission in place to create a seven bedroom HMO and further potential to increase to eight bedrooms, subject to the necessary planning permissions.

Dating back to circa 1890, this attractive brick built terrace has a long-established history as both a bed and breakfast and, more recently, a successful House in Multiple Occupation. Since January 2022, the property has been consistently occupied with minimal void periods, attracting professional tenants, graduates and working individuals, all referenced and managed through a professional letting agent.

Planning permission has been granted for the change of use from a bed and breakfast to a small HMO in its current six bedroom configuration. A further approved consent allows the property to be reconfigured into a seven bedroom HMO through a minor alteration to one of the bathrooms. There is also clear potential to create an eighth bedroom, subject to the relevant planning consent and internal alterations.

The accommodation currently comprises six generous ensuite bedrooms, complemented by spacious communal facilities including a large shared bathroom and an additional shower room, providing practical and comfortable accommodation for residents.

The property currently generates a gross annual rental income of approximately £55,800 at full six bedroom occupancy. Once the approved seventh bedroom is completed, the projected gross rental income is expected to increase to approximately £64,200 per annum, offering an attractive investment opportunity with scope for further growth.

Ideally positioned within easy reach of York city centre, York St John University, York Railway Station and several major employment centres, the property benefits from strong year round demand from professional tenants. On street permit parking is available.

ANTI-MONEY LAUNDERING COMPLIANCE

We are legally required to conduct Anti Money Laundering checks on all purchasers, sellers, and giftors. These checks become mandatory when a seller accepts a purchaser's offer on a property. Anti-Money Laundering checks are valid for 6 months from the date they are completed. If your purchase does not proceed and you make an offer on another property more than 6 months later, or if your checks are more than 6 months old when making a new offer, you will need to complete and pay for new checks. We use a partner supplier MoveButler, to carry out these checks on our behalf. They will contact you directly once your offer has been accepted (subject to contract) to complete the electronic verification process securely. There is a non-refundable charge of £30 + VAT per purchaser and per giftor for these checks.. This fee must be paid before we can issue a memorandum of sale to solicitors and is non-refundable under any circumstances. Ashtons receive a portion of this fee from MoveButler as compensation for facilitating these checks and our administrative role in the compliance process.

Period Terrace House
Eight Bedroom House
HMO Planning for 7 Letting Rooms Subject to Alterations
Seven Bathrooms
Rear Courtyard and Bike Storage
Planning and Hmo License In Place
EPC D

8 Bedrooms   |   7 Bathrooms   |   2 Receptions