Summary - 64 WHITSED STREET PETERBOROUGH PE1 5ED
6 bed 2 bath Terraced
Immediate income HMO with two garages and scope to boost rent after refurbishment..
- Six-bedroom HMO sold with tenants in situ and no onward chain
- Approx gross annual rent £26,352; ~10% rental yield quoted
- Two powered garages; one with rear access to communal garden
- Communal lounge, kitchen, utility, downstairs WC, bathroom and shower
- Freehold tenure; total area approx 1,932 sq ft
- EPC rating D — energy improvements likely needed
- Located in very deprived area with high local crime levels
- Likely cosmetic/maintenance works and HMO compliance checks required
This six-bedroom terraced HMO in PE1 is offered freehold with tenants in situ and no onward chain, producing an approximate gross annual rent of £26,352 (around a 10% rental yield at the asking price). The layout includes a communal lounge, kitchen, utility, downstairs WC, five first-floor bedrooms plus a ground-floor bedroom, a communal bathroom and separate shower room. Two garages with power (one with rear access) and a low-maintenance communal garden add practical value for tenants.
The property’s Victorian exterior and sizeable internal area (approximately 1,932 sq ft) suit continued HMO use or conversion to alternative multi-room rental configurations. It is tenanted already, so immediate income is achievable, and opportunity exists to improve income and capital value through cosmetic refurbishment, EPC upgrades and active rent management. EPC rating D means some energy-efficiency improvements will be required to meet modern standards and reduce future running costs.
Important risk factors are clear: the property sits in a very deprived area with a high local crime level, which can affect tenant turnover, management costs and long-term capital growth. The property is average-sized internally with some likely cosmetic and maintenance needs; purchaser should allow budget for refurbishment and any required HMO compliance work. Prospective buyers should verify tenancy agreements, safety certificates and HMO licensing to confirm ongoing compliance.
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