Summary - Lorne Street, Chester CH1 4AE
5 bed 2 bath End of Terrace
Fully let, licensed five-bedroom property close to university with scope to increase income.
Five-bedroom fully furnished HMO, fully let for next academic year
A straightforward buy-to-let with immediate income: this five-bedroom HMO on Lorne Street is fully furnished, licenced and let for the coming academic year, delivering a reliable annual rental income of £32,000. The HMO licence has just been renewed, reducing compliance risk and allowing an investor to take ownership without delay.
The house retains Victorian character with solid brick walls and period bay windows, and includes two bathrooms, a communal living room and a lean-to currently used for storage. The lean-to presents clear scope for conversion into an additional bedroom or communal space (subject to permissions), offering a practical route to increase rental yield.
There are material maintenance and upgrade items to consider. The property is dated in places and will benefit from modernization; walls appear uninsulated, and heating is provided by mains gas room heaters rather than a modern central system. These factors create both cost and improvement opportunities — sensible refurbishment would improve tenant comfort and allow higher rents.
Location is a primary strength: positioned within walking distance of the University of Chester and the city centre, in a cosmopolitan student neighbourhood with strong demand. The area is described as deprived, so buyers should expect the lettings market to be student-driven rather than family-focused. Freehold tenure and an affordable council tax band add to the investment case.
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