Five-Bedroom Flat With Hmo Development Opportunity

Aberdeen, known as the Granite City, is a vibrant city offering a mix of historical charm and modern amenities. With a rich cultural scene, beautiful architecture, and a bustling harbour, Aberdeen is an excellent location for both investment and living. Its strong academic institutions and thriving oil industry make it a city of opportunity and appeal. This vacant five-bedroom flat presents an excellent HMO and serviced accommodation development opportunity within a prime location in Aberdeen. The property comprises a welcoming living room/kitchen area, and five spacious bedrooms, each equipped with a modern en-suite. Full planning permission has already been granted for a 5-bedroom HMO (260003/DPP). Rates for five-bedroom properties in the area start from around £420 per night, and subject to gaining necessary planning consents, at 70% occupancy per month, this unit could achieve £8,942 PCM (£107,310 P/A), generating an incredible gross yield if secured at the guide price. Nearby sales evidence includes 25 Regent Quay (AB11 5AH) which sold for £160,000, and 55 Virginia Street (AB11 5AX) which sold for £175,000. Offered at a remarkably competitive price, this property is perfectly primed for a quick auction sale and is ideally suited for seasoned investors seeking a high yield.