How Much More Does Article 4 Make a Professional HMO in Salford
We have asked estate agents and have had all types of price ranges. Clearly Article 4 increases the value as there will be less Professional HMOs and rents will probably rise. Last year we sold a 6 bed Professional HMO on the border of Walkden in Salford to a lovely couple from Hong Kong. This was not in an article 4 area. There are only parts of Salford in which are article 4. We have one on Station road. It has been full since day 1. Initially we had 4 doctors who were interning. Lovely group of gents.
The question is how much more does Article 4 really increase the value of the property as well as do the banks value the Professional HMO for that much? We would like to hear from other investors besides estate agents.
Would like to hear thoughts..
Thank you in advance