15 bed block of flats for sale

Festing Grove, Southsea, Hampshire PO4

This pair of adjacent HMOs, comprising 15 letting rooms and licensed for 18 tenants, presents a rare high-income investment opportunity in Southsea. Fully let to working professionals, the properties generate £127,560 in annual rental income, delivering a strong gross yield of 11.09% with stable occupancy and dependable cash flow. Ideally situated near the seafront, the University of Portsmouth, shops, and major employers, the location ensures consistent tenant demand, while excellent rail connections to London and Southampton, alongside easy access to the M27, A3, and ferry routes, enhance its commuter appeal. With large-scale regeneration across Portsmouth and Southsea’s city centre and waterfront set to further drive demand and long-term capital appreciation, this portfolio represents a secure, income-generating opportunity in one of the South Coast’s most resilient and desirable rental markets.

Please note: A Buyer Onboarding Fee of £250 + VAT is payable by all purchasers upon offer acceptance. This covers full aml and Proof of Funds verification, investor onboarding, and one months' access to our exclusive HMO Xchange portal and dedicated Buyer’s Space within the HMO X Hub - providing specialist guides, content, and support for HMO investors of all experience levels.

Income Breakdown (Monthly):

72 Festing Grove:

Room 1a: £585.00
Room 1b: £640.00
Room 2: £700.00
Room 3: £735.00
Room 4: £650.00
Room 5: £585.00
Room 6: £715.00
Room 7: £720.00

74 Festing Grove:

Room1: £900.00
Room 2: £795.00
Room 3: £690.00
Room 4: £750.00
Room 5: £695.00
Room 6: £695.00
Room 7: £775.00

Total Monthly Income: £10,630.00

Total Annual Income: £127,560.00

Expenditure Breakdown (Monthly):

Gas: N/A
Electric: £458.00*
Water: £171.92
Council Tax: £121.00 (Only applicable to Rooms 1a and 1b - All other rooms are responsible for their own Council Tax)
TV License: £15.00
Broadband: £74.40
Cleaner: £144.00
Management (10%): £1,063.00

Total Monthly Expenditure: £2,047.32

Total Annual Expenditure: £24,567.84

* Electricity costs are offset by Landlord metering payments from most of the studio units. Approx annual billing by British Gas £12,500, Approx Income from Landlord metering £7,000 - Net cost £5,500 = £458pm

Investment Performance:

Net Annual Income: £102,992.16
Gross Yield: 11.09%
Net Yield: 8.96%

Compliance And Licensing:

- 257 HMO License
- EPC
- eicr

- Fire Risk Assessment
- Emergency Lighting Inspection Certificate