HMOs for Sale in Leicester

Leicester

Professional & Student HMOs for Sale in Leicester

 

Leicester HMO market is extremely strong. If you are looking for HMOs for Sale in Leicester you have come to the right place. House shares in Leicester have become a highly sought after given it’s excellent geographical positioning in the UK and the demand offered from both professional and student tenants. High yielding houses of multiple occupation in Leicester can be found. HMOs in Leicester range in size from 5 beds to 15 beds plus. Some of the top locations in Leicester include Westcotes, Castle, Spinney Hills, Stoneygate, and Wycliffe, and to the South of the city centre areas that are strong include Knighton, Saffron and Aylestone. 

Houses in Multiple Occupation have a number of regulations surrounding them including article 4 directives, selective and mandatory HMO licences, and rules on planning permission. There is Article 4 Direction in place for HMOs in Leicester – please see our Leicester HMO FAQ section at the bottom of the page. 

Are you looking to buy or sell an HMO in Leicester? Enquire today and see how we can help.

Leicester HMO Market FAQs

Demand for HMOs in Leicester is high. There are areas where demand is higher for students and others that are higher for professionals. On the open market the average rent for a house share in Leicester is between £400 and £650 per month per room. Double rooms outweigh single rooms by 4:1 so if you are looking to develop HMOs in Leicester it’s important that they are double rooms. The amount of professional rooms to student rooms is around 50-50 evenly split and there is a higher than average number of rooms that have ensuites compared to the national average. 

There are many students in Leicester and is therefore a popular place for Houses of Multiple Occupancy. You have two main Universities in Leicester – De Montford University and The University of Leicester. You also have Leicester College and Judgemeadow Community College. There are many popular areas for Student HMOs in Leicester however the prime location is around the De Montford University campus. 

The average size HMO in Leicester is 6 beds. 5 bed HMOs are also popular in Leicester, and there are some 6 bed and 10 bed HMOs also. Larger HMOs are commercially financed. 

Unfortunately we do not provide any recommendations for third party HMO letting agents in Leicester, however if you contact us we may be able to point you in the right direction. 

Yes, there is article 4 in Leicester which prohibits the conversion of houses to HMOs up to 6 bedrooms. This is restricted to houses in the Article 4 area. Further additions to Article 4 are scheduled to be announced on Friday 18th November 2022 following a public consultation. The initial Article 4 came into effect in 2013. Details of exactly where the Article 4 direction covers are on our blog about it, please click here Article 4 HMOs Leicester

Any HMO that is rented to five or more tenants is required to have an HMO licence in Leicester. If you require a licence then you should already have planning permission to rent the property as an HMO. 

If you have an HMO rented to 6 or less tenants, you are required under the article 4 directive in Wolverhampton to have planning permission but only if it’s in the Article 4 areas of Leicester. You can find out more about the Article 4 areas specifically on our blog, click here. Due to Articl4 you will need to obtain permission to change the use of property from a dwelling house (C3) to a house in multiple occupation in Leicester (C4). 

If you have a 7 bedroom and bigger house of multiple occupancy in Leicester, then nationally you are required to have planning permission as Sui Generis HMO. 

HMO Deals in Leicester

12 bed HMO

12 bed HMO Conversion + Land Dev

Off market deal, conversion of 3 storey detached commercial premises with additional basement and outbuilding. Land to the rear ideal for development of 2 houses STPP 

6 bed student HMO

6 bed Student Tenanted HMO

Off market deal, fully tenanted 6 bed HMO, tenancies until Aug 2023 generating £2550 per month. Landlord looking for quick sale.

9 bed HMO

9 bed Professional Tenanted HMO

A fully tenanted 9 bedroom HMO with a gross rent of £3700. 6 en-suites, 2 bathrooms, 2 living rooms split over 5 floors! The landlord completed a £120,000 full refurbishment in 2019. 

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32 bed HMO Portfolio

A portfolio of 5 HMO properties comprising of 32 professionally let rooms for sale. The properties are all located within a 5 mile radius. The portfolio would benefit from some upgrade and modernisation to some of the properties. Part tenanted.

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