Summary - 50 Bakewell Street DE22 3SB
5 bed 5 bath Terraced
High-yield, recently refurbished HMO near university and hospital, sold at auction.
- Refurbished in 2023, ready for occupation
- Five lettable units: three studios and two en-suite rooms
- EPC B and mains gas boiler with radiators
- Potential gross yield around 10.3% (vendor estimate)
- Sold at auction; freehold tenure
- Very high local crime and deprived area — impacts risks
- Small overall size and plot; garage needs repair
- Solid brick walls assumed uninsulated — possible retrofit costs
A newly refurbished 5-bedroom HMO in central Derby, offered freehold and sold at auction. The property was refurbished in 2023 and comprises three self-contained studio units and two en-suite rooms, served by a communal kitchen and laundry. An EPC rating of B and mains gas heating are practical strengths for tenants and operators.
This layout and location suit an investor targeting student and short-term private renters: close to the University of Derby, Royal Derby Hospital, city centre and transport links. The vendor highlights an estimated yield of 10.3%, supported by the mix of studios and en-suite lettings and fast broadband with excellent mobile signal.
Buyers should note material negatives plainly. The property sits in a very high crime, deprived area which can affect voids, management costs and insurance. The overall plot and internal floor area are small; the garage requires work and the building’s original solid-brick walls are assumed to lack cavity insulation, which may affect long-term energy performance and retrofit costs.
This is a buy-to-let opportunity sold at auction: suited to experienced investors who can manage lettings in a high-demand central rental market and who understand the added costs and operational risks associated with the location. The house is ready to let post-refurbishment but requires active management given local conditions.
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