Sourced are pleased to present another truly fantastic opportunity, a stunning 3-bed house available for R2RSA in Whitechapel. The property has stunning features retaining a great deal of character and benefits from 3 large bedrooms and 1.5 bathrooms. The house also benefits from a spacious living and dining area which opens onto a large kitchen and a private garden area. The location of this house is unrivalled, being literally a 2-minute walk from Whitechapel Underground station which provides the option of 3 tube lines. Attractions such as Spitalfields Market, Liverpool Street and the City are all within walking distance as well making this an incredibly exciting SA opportunity to take on.
The existing furniture in the property will be purchased but the property will need further interior design and soft furnishings.

The unit will comfortably be able to sleep up to 10 guests. The total rent payable for the unit is £3,900 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 3-year contract. This investment will be fully managed by our managing agent, making it as hands-off as possible for you. We'll also get you set up on our online platform so you have full visibility of bookings/revenue. The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning and maintenance.

You can pay for the furniture and set-up in cash which will be approximately £12-13k (subject to formal quotation). Alternatively, you can utilise a different form of funding you have access to such as a credit card, bank loan or asset finance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £4,250 inc. VAT applies.

The Financials
▪ Rent: £3,900
▪ Ongoing monthly costs (including approx. bills and furniture costs): £388
▪ Average nightly rate: £460
▪ Revenue at 70% occupancy: £9,795
▪ Revenue at 85% occupancy: £11,894

▪ Deposit: £3,900
▪ Sourcing fee: £4,250
▪ Furniture, Interior Design, Soft Furnishings & Set-up Costs: £12,000
▪ Total Upfront Cash Required: £20,150

▪ Monthly profit at 70%: £2,785
▪ Annual profit at 70%: £33,422
▪ Profit over 3 years at 70% (assuming no increase in nightly rates): £100,265

▪ Monthly profit at 85%: £4,301
▪ Annual profit at 85%: £51,610
▪ Profit over 3 years at 85% (assuming no increase in nightly rates): £154,829

▪ ROCE over 1 year at 70%: 166%
▪ ROCE over 3 years at 70% (assuming no increase in nightly rates): 498%
▪ Months till profit: 7

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.