High income yielding IOM property management businesses

Overview

• Location
  Isle of Man
• Sector
  Property Management
• Relocatable
  No
• Asking price
  £1,345,000

Description

The asking price for the businesses includes full freehold to two substantial IOM properties which are already converted and fully licensed as HMO's (consisting of over 30 existing licensed rooms). Freehold to an additional workshop and garage linked to one of the properties may be available by separate negotiation.

The opportunity

It is rare to find a HMO manager operating with all the appropriate IOM Government certifications in the Isle of Man and yet here we have two adjoining managed facilities for sale. By combining both these adjoining businesses together with some undertaking some subtle internal modifications to create one larger HMO manager any purchaser could easily increase the existing rental yields substantially.

General property condition

Both properties are in good order and both carry appropriate licensing and fire regulation sign offs. Recent renovations have been undertaken and both businesses operate to high standards and undertake regular maintenance programmes to ensure the rooms are always to acceptable standards.

Both these properties have been in family ownership for over 20 years and have received appropriate investment over the years.

Consistent returns 

Due to the ongoing shortage of affordable housing and long local authority waiting lists in the Isle of Man both businesses have been close to fully let for the duration of their 20 year plus operation generating excellent cash flow.

However retirement planning means that the owners now wish to look for offers from professional investors or existing HMO of facilities operators who are looking for a unique opportunity to continue these very profitable businesses.

Summary of business proposition

• Businesses include the freehold to two substantial adjoining HMO properties
• Scope exists to considerably enhance the already high existing yield
• Both HMOs have been fully tenanted long term and trading 20 plus years
• Most tenancies paid direct by DHSS
• Both HMOs are in good cosmetic order with CCTV in common areas
• Appropriately certificated as HMO properties
• Turnkey long-term high-income generator
• Would suit HMO investor, private investor or facilities or property management business

This is a unique opportunity to acquire a very secure income stream from two mature HMO businesses. 

Financial information and other supporting information about the opportunity is available subject to Non Disclosure Agreement (NDA).