Summary - King Alfred Street, Derby, Derbyshire, DE22 3QJ DE22 3QJ
19 bed 19 bath House of Multiple Occupation
Turnkey, income-producing freehold with immediate rental returns for investors.
Freehold HMO: 19 self-contained units (17 studios + 2-bed coach house)
Fully refurbished to high specification and fully let
Gross rent £163,000; net income circa £133,600
Net initial yield approximately 8% (turnkey income)
Compliant with HMO licensing and fire-safety standards
Very high local crime rate — may affect insurance and management
Very slow broadband speeds across the property
Small plot with limited external/common outdoor space
A rare freehold HMO investment in central Derby, refurbished throughout and fully let to students and professionals. The building offers 17 self-contained studio rooms plus a separate two-bedroom coach house, generating immediate rental income and strong occupancy close to the city centre.
The specification is high: each studio has an en-suite and kitchenette, modern fittings, and dedicated workstation space. The property is presented as low-maintenance and energy-efficient, compliant with HMO licensing and fire-safety standards. Financially it delivers a gross annual rent of £163,000 and a reported net annual income around £133,600, producing an attractive net initial yield near 8%.
This asset suits an investor seeking turnkey income and scope for long-term capital growth from a central location within walking distance of Derby’s shops, universities, transport and employment hubs. The two-bedroom coach house adds flexibility for management accommodation or higher-value tenancy.
Buyers should note material negatives: the neighbourhood records very high crime levels and the wider area is classified as deprived, which can affect insurance costs and perception for some tenants. Broadband speeds are reported very slow. The plot is small with limited external space. These factors are factual considerations against the strong yield and full-let status.
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