Freehold HMO Investment Project
HMO Acquisition...Good Investments
The conversion of single dwelling properties into multi-occupancy can represent an excellent investment opportunity as well as providing affordable housing places for tenants.
With long term tenants in place in all properties under our management, we decided our next acquisition would be a House of Multiple Occupancy (HMO). The Ashray Construction group acquired a Freehold Building comprising of 3 Studio flats, 6 Bedsits and 1 Ground floor commercial space in Tufnell Park.
Building Photos
Front of Building
Side View
HMO Viewpoint
At the point of acquiring Campdale Road we moved away from our model of developing to let, and bought to invest. Our concern was capital opportunity cost, however the property has provided an excellent gross return for the group. Whilst the property was purchased in good condition, there is great potential in the building for future refurbishment.
This acquisition has also provided us with the opportunity to learn more about this type of investment. Now the HMO process is understood, we are now in a position to consider this as a option for future development projects.