Summary - 49, Old Mill Lane, BARNSLEY S71 1PS
4 bed 1 bath Terraced
Small-period terrace with immediate income and refurbishment upside near town centre.
Guaranteed HMO income £800 pcm with projected 14% ROI
This four-bedroom terraced property on Old Mill Lane is offered as a small-scale HMO with a secure housing association lease in place until May 2028, producing a guaranteed rental income of £800 pcm. Sold freehold and chain free at auction, it can also be offered with vacant possession for a single let or owner-occupation. Projected ROI is 14% based on current income figures.
The house is a period terrace (circa 1900–1929) with solid brick walls, sash-style windows and double glazing. The kitchen has contemporary units and built-in appliances but the overall property is compact and presents as a fixer-upper that would benefit from cleaning and targeted refurbishment to boost rents or resale value. EPC is rated D.
Important considerations: only three years remain on the housing association lease, which materially affects mortgageability — lenders are likely to refuse typical residential mortgages. A buyer’s premium (1% + VAT, minimum fees apply) is payable on purchase, and the area records high local crime rates and higher deprivation indicators. These factors suit cash buyers or experienced investors comfortable with auction purchases and short-lease HMO management.
For the right purchaser this is a clear income-led opportunity close to Barnsley town centre and public transport, with scope to increase rental yield after refurbishment or when sold with vacant possession. Assess lease expiry timing, lender criteria, and any required remedial works before bid.
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