Inherited £2M HMO, what would you do?

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Just seeing what others would do, I recently inherited a licenced HMO in central London worth around £2M - £2.2 (agent valuation). The IHT valuation a few years back was roughly £800k resulting in an IHT bill of around £170k.
HMO: 5 rooms, roughly £4500pcm total rent. Fixed monthly costs for utilities, C tax, mortgage etc around £1400.

Selling will incur a huge CGT bill, that needs to be taken into account.
£160k mortgage left roughly.
My requirement is to have an income same or better than I'm getting currently.

What would you do? Keep hold of it as capital is going up, sell and re-invest, anything else?

I'm curious what the more experienced people on here would do.

16/07/2017 21:07

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Martin Co
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