Summary - 292, Ipswich Road, COLCHESTER CO4 0ES
5 bed 1 bath Detached
Ready-planned 10-room rental conversion near station and university.
Planning permission granted for 10-bedroom HMO with en-suite facilities for each room
Projected investment yield circa 8–9% (advertised estimate)
Large paved driveway, off-street parking for several vehicles
Outbuilding and storage space suitable for HMO support use
Currently configured as a 5-bedroom house with one bathroom — conversion work required
Sale by auction: 56-day reservation, 4.5% non-refundable Reservation Fee applies
Buyer Information Pack (£300) and optional services (up to £450) payable
Area records above-average crime; factor in security/management costs
A rare ready-to-deliver HMO conversion in central Colchester, this large detached house already has planning permission for a 10-bedroom HMO with en-suite facilities. Positioned close to the town centre, train station, university and hospital, the property is well placed for high and steady rental demand. The seller and purchaser will complete via auction (Modern Method) with a 56-day reservation period.
The house sits on a large plot with a generous paved driveway for multiple vehicles, an outbuilding and additional storage — practical for HMO operation and utility space. The building’s existing layout (c.2,713 sq ft) and an existing roof window make conversion straightforward; current external condition appears well maintained. Projected gross yield is circa 8–9% based on advertised figures.
Buyers should note the sale will be conducted at auction and includes specific fees: a non-refundable Reservation Fee of 4.5% (minimum £6,600) payable on exchange, and a £300 Buyer Information Pack charge. Optional services may be offered for up to £450. The property currently has five bedrooms and one bathroom in its present configuration — completion of the HMO works and en-suite fit-out will be required to achieve the stated 10-bedroom HMO income.
Other considerations: the area records above-average crime rates, so consider security and management costs in operating an HMO. No flooding risk is recorded and broadband and mobile signals are strong. Plans and full documents are available on request and viewings can be arranged prior to auction.
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