Dunalley Parade, Cheltenham

A Substantial Five-Bedroom Property With Excellent Residential And HMO Investment Potential – No Onward Chain
Offered to the market with NO ONWARD CHAIN and vacant possession, this substantial five-bedroom terraced property presents an exciting opportunity for both residential purchasers and investors. Offering generous and highly versatile accommodation arranged over multiple floors, the property combines the potential to create a spacious three-bedroom home with an established history as a successful HMO.
The property has previously operated as a licensed HMO and benefits from a strong rental history, demonstrating its appeal within Cheltenham's rental market. Based on previous rental levels, there is potential to achieve a gross rental yield in excess of 11%, making this an attractive proposition for investors looking for a well-located property with strong income potential.
For residential purchasers, the existing layout provides excellent flexibility and could be easily adapted to create a more traditional family home. Two of the rooms currently arranged as ground-floor bedrooms could instead be utilised as additional reception space, with one making an excellent living room or dining room and the other ideally suited as a home office, study, snug or playroom. This would leave the first floor providing three bedrooms alongside the family bathroom, creating a practical separation between the living and sleeping accommodation.
The ground floor also benefits from the kitchen, providing a practical everyday space with a good range of storage and worktop areas. With the two current bedrooms repurposed, this level could provide a particularly versatile arrangement of kitchen, reception and home-working accommodation, allowing a future owner to tailor the layout around their individual lifestyle.
Upstairs are three well-proportioned bedrooms, providing comfortable accommodation for a family, couple or those requiring additional guest or working space. These are complemented by the family bathroom, completing a straightforward and practical first-floor arrangement.
Another valuable feature is the substantial basement, which provides an excellent amount of additional storage and useful ancillary space. Rather than forming part of the main reception accommodation, this area is particularly useful for household storage, bikes, equipment or hobbies, adding further practicality to an already generously proportioned property.
For investors, the existing five-bedroom configuration and previous HMO use provide an excellent starting point from which to explore continued operation as a shared rental property, subject to all necessary licensing, planning and regulatory requirements. Its previous rental performance, combined with the number of bedrooms and convenient location, gives the property considerable investment appeal.
The location further enhances its appeal. Positioned within easy reach of Cheltenham town centre and the Brewery Quarter, the property is ideally placed for an extensive selection of shops, restaurants, cafés, bars and leisure facilities. This central position makes it equally attractive to residential buyers wanting convenient access to the town and investors looking for a location with strong rental demand.
Combining five-bedroom HMO potential, a possible three-bedroom residential layout with two versatile ground-floor reception/office spaces, substantial basement storage, vacant possession and a previous strong rental history with potential for an 11%+ gross yield, this is a highly adaptable property with plenty to offer.
Early viewing is highly recommended to fully appreciate the space, flexibility and potential available.