Summary - 48 - 50 Patchwork Row, Shirebrook, Derbyshire, NG20 8AL NG20 8AL
9 bed 1 bath House of Multiple Occupation
Nine-room freehold at auction delivering strong gross income potential.
9 letting rooms across two adjoining Victorian freehold terraces
A two-building Victorian freehold arranged as a nine-room House of Multiple Occupation, offered at public auction. The property generates a current gross rent of approximately £39,900 per year, presenting a strong headline yield against the guide price. The buildings sit on a small urban plot on Patchwork Row close to local shops, rail links and M1 access.
The accommodation is made up of nine letting rooms with communal ancillary space and a single bathroom recorded. Each room is let on an Assured Shorthold Tenancy, so income is immediate but subject to tenancy terms and turnover. The housings’ Victorian character is evident externally; interiors have not been inspected and buyers should allow for refurbishment, modern compliance checks and HMO management obligations.
Important risk factors are clear: the area is classified as deprived with higher local crime and a concentration of constrained renters. The sale is by public auction and the property will be sold as seen, with no internal inspection recorded in the particulars. Prospective purchasers should budget for refurbishment, HMO compliance works, and active estate management to sustain yields.
This asset will suit an experienced investor or portfolio buyer seeking high income return potential and comfortable with hands-on management, refurbishment and the risks of running a nine-room HMO in a challenging local market. Legal packs, tenancy schedules and on-site inspections are recommended pre-auction to verify income and compliance details.
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