Case Study:
The Broadway Project — 6-Bed Professional HMO (Pre-Article 4)
By Jonathan Fish
The Overview
This project involved converting a large property into a 6-bed professional HMO prior to Article 4 restrictions, allowing for maximum flexibility and strong rental performance.
It highlights how timing, planning, and layout can combine to create a high-yielding, compliant shared living space.
The Strategy
The approach focused on:
- Converting to a 6-bed HMO before Article 4 implementation
- Designing for professional tenants
- Creating strong communal areas
- Ensuring compliance while maximising room count
A forward-thinking strategy that leveraged planning timing and demand.
The Challenge
Key constraints included:
- Reconfiguring a large but inefficient layout
- Balancing bedroom numbers with liveable communal space
- Meeting HMO standards and expectations
- Delivering a consistent, high-quality finish
The goal was to optimise without compromising tenant experience.
The Transformation
Before
- Underutilised layout
- Dated interiors
- Limited suitability for shared living
After
- 6-bed professional HMO
- Functional, well-balanced layout
- Designed for comfort and longevity
Every decision was driven by tenant appeal and operational efficiency.
The Result
The completed property offers:
- Bright, modern interiors
- Spacious communal kitchen and living area
- Well-designed bedrooms
- A cohesive, professional finish
The result is a high-demand rental asset suited to working tenants.
The Numbers
Purchase Price: £181,000
Refurbishment Cost: £153,000
Total Investment: £334,000
Gross Monthly Rent: £4,130
Annual Rent: £49,560
Estimated Yield: 14.8% (based on total investment)
Cash Flow: £1,760/month
Key Takeaways
Timing and planning can be just as valuable as the refurb itself.
Executing before Article 4 allowed this project to maximise income potential and future-proof the asset.
