A well-presented seven-bedroom licensed HMO with a Certificate of Existing Lawful Use, currently let on 50-week academic contracts producing a gross annual income of £39,750.

After running costs of £4,888, the property generates a net income of £34,862 per annum, representing an approximate gross yield of 11.69%–12.23% and net yield of 10.25%–10.73%, depending on the agreed purchase price.

The seller has advised that gross rental income is expected to increase to approximately £41,750 for the 2026–2027 academic year.

For comparison, the equivalent 12-month rental income would be approximately £43,420 per annum, representing an estimated gross yield of 12.77%–13.36%, subject to the final sale price.

North Road East is an impressive seven-bedroom licensed HMO with a Certificate of Existing Lawful Use.

Currently let on 50-week academic contracts, the property generates a gross annual income of £39,750. After annual running costs of £4,888, this equates to a net income of £34,862, making it a smooth-running and profitable investment.

Based on the current gross income of £39,750 per annum, this represents an approximate gross yield of 11.69%–12.23%, with net yields of 10.25%–10.73% after running costs, depending on the agreed sale price.

The seller has advised that the potential gross rent for the next academic year (2026–2027) is expected to increase to approximately £41,750 when fully let on a 50-week contract.

For comparison, the equivalent gross rental income on a full 12-month tenancy model would be approximately £43,420 per annum. Based on this comparison, the property would represent an approximate gross yield of 12.77%–13.36%, subject to the agreed sale price.

This demonstrates the strength of the property’s income profile when compared with many traditional HMOs currently available on the market.

The property is currently let on 50-week academic contracts, which is standard within the student letting market and allows a short period between tenancies for cleaning, maintenance, and preparation for the next academic year.

Following the proposed Renters Reform Bill, tenancy structures within the student market may evolve over time, and investors should therefore consider the property’s potential income both on the current 50-week academic model and the 12-month equivalent comparison basis.

The property has been carefully maintained by the current landlords, who take real pride in keeping it well presented and comfortable for their tenants.

Inside, a bright and inviting entrance hall leads to a stylish, fully fitted kitchen with modern units, a dishwasher, and a breakfast bar — the perfect hub for cooking, socialising, and relaxing. The communal living area provides a spacious and comfortable setting for tenants to unwind together.

There are seven good-sized letting rooms arranged over three levels, with a shower room on the ground floor and a spacious bathroom on the first floor featuring a bath, separate shower, and WC.

To the rear is a low-maintenance courtyard, providing a practical outdoor space, and there is permit parking available, subject to application and approval via Plymouth City Council.

 
Income & Running Costs
Currently let on 50-week academic contracts, the property generates a gross annual income of £39,750.

After annual running costs of £4,888, the net income is £34,862.

This equates to an average rental income of approximately £5,679 per room per annum, based on the current 50-week agreements.

Annual Running Costs (as provided by the landlord):

Internet: £348
TV Licence: £175
Utilities: £3,025
Water Rates: £1,340

Total: £4,888

North Road East combines excellent presentation, efficient management, and strong rental performance, making it a ready-made turnkey investment in a prime and convenient location close to Plymouth University and the city centre.

 
Agent Note
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