A massive property is up for sale in St Helens, and it has an eye-watering price tag.
The property, which sits on St Paul Street, close to the town centre, has 21 bedrooms and is currently being used as aparthotels/serviced accommodation.
It is listed for sale with a guide price of more than £1.3m
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An aparthotel is a serviced apartment complex that operates a hotel-style booking system, allowing tenants to leave when they wish with no fixed contracts.
The property is comprised of two separate premises currently.
Napier Street Aparthotel which is currently being let as a 12 bedroom HMO, currently licenced for 24 people, but could also be utilised as an aparthotel or serviced accommodation
The property is ‘fully let with high rental demand, tenants are professionals, doctors, nurses, and business owners”
There is also St Paul’s Street HMO.
HMO stands for house in multiple occupation, meaning the property is rented by three or more tenants that are not part of the same household.
This is comprised of nine separate bedrooms, six are which are en suite.
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The property is being marketed towards possible landlords, with it offering a monthly income of £12,566.66 and an annual income of £150,799.92.
Statistics from website hmohub.co.uk show that HMOs are becoming more popular with landlords.
The statistics show that since quarter two of 2018, the gross yield of an HMO has increased from 8.6% to 9.6% in quarter two of 2019, whereas a standard buy-to-let has increased by 0.3%
The property stands at 1,600 square feet.
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