A town centre house of multiple occupancies (HMO) business has gone on the market for more than £5million.

The listing includes seven freehold properties varying in size from three to 18 bedrooms in Parrock Street, Gravesend.

Two of the buildings have HMO licenses, four are residential use and one is a guest house.

Any HMO hosting five or more separate households - in effect, five or more occupants who are not a couple or otherwise related - requires a licence from the local council.

The properties on the market, near the junction with Wellington Street, include 55 bedrooms with some being HMOs and others being self-contained flats.

The business has been running for more than 30 years in the same family, however, the owners have now decided to retire and sell the firm.

It is being sold at a guide price of £5,250,000 by agents Christie and Co who have described it as a “rare business opportunity”.

The London-based brokerage also believes a new owner would be able to expand the company further or add to an existing portfolio.

The listing added: “It is rare to find such a large portfolio of HMOs and other letting accommodations come to market, so interest is expected to be strong.”

For the year ending in March 2024, trading data suggest the firm turned over £713,000.

There are about 475,000 HMOs in England, according to the Office for National Statistics, with just under 1,900 in Kent.

Read more: What is it like to live in an HMO?

In the county, the biggest is a property in Folkestone boasting 52 bedrooms, while another in Gravesend has 40.