Former cornershop ‘would be ideal for an HMO’

A FORMER cornershop is on the market with the potential to earn the new owner £28,000 per year.

The building, on the corner of Tewksbury Street and Tyrell Street, nea Tudor Road, Leicester, has already been converted into a big four-bedroom house.

Auctioneers SDL Property Auction expect the property to sell for about £200,000 and they believe there is room to create a couple more bedrooms.

That means that with planning permission it could be turned into a shared house with multiple tenants sharing a common kitchen, living room and bathrooms – known as an HMO.

If that happened, SDL estimates it could generate the owner up to £28,000 every year.

SDL describes it on its auction website: “A former corner retail shop and living accommodation which now forms one large house situated in an ideal letting location close to Leicester Royal Infirmary, city centre and the shops, bars and restaurants along Narborough Road and De Montfort University.

“The layout makes it ideal for conversion to a six-bedroom HMO property, subject to any required permissions.”

The website goes on to say that the ground floor has a sitting room and a separate, large lounge and dining room that could be converted into two bedrooms. There is also a kitchen on the ground floor, as well as a utility room that could potentially become a second bathroom.

There are three bedrooms and a bathroom on the upper floor and a fourth bedroom in the loft.

The property also comes with an enclosed rear garden and patio.