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Preston Student Investment

Preston

Location

10.2%

Gross Yield

£1,150,000

Purchase Price

Preston Student Investment

Fresh Invest is delighted to release high spec development of student apartments in Preston.

  • Studios, 1 beds and a 13 bed HMO.
  • Annual NET Yield of 7.6%
  • Fixtures and Fittings Included
  • Close to City centre and University.
  • Fully Tenanted at £117,808 p.a
  • Purchase Price £1,150,000

More Information

THE INVESTMENT

An opportunity to purchase a high yielding student investment which has been expertly converted from a wonderful church and made a home for 23 students.

Sourcing, Purchasing, Converting and Managing large blocks of apartments is a labour intensive task and one which should only be undertaken by professionals. By working with this developer we have structured a hands off investment in this high yielding block in a superb location.

The property is split into 23 beds in total. Which comprises 4 x studio flats, 6 x 1 bed flats and a 13 x bed halls of residence. All are a good size and provide ample living space for the happy tenants.

As a self contained recently converted block we expect annual maintenance costs will be low and the purchaser will have control of their own maintenance across the block.

This property will be sold fully refurbished and tenanted.

THE AREA

Preston is a large and growing city located right in the middle of the Northern Powerhouse. At just 35 miles to the North of Liverpool and Manchester and right between Blackpool and Blackburn it is perfectly positioned for the huge investment currently being felt all around the North West.

The city has a large university (UCLAN) which is home to over 35,000 students. the university is constantly under regeneration and more recently benefitted from a new £57m student centre and public square.

 

Due, partly to the excellent location and to the university, Preston has a very young and economically active workforce, which is great for the future potential of the city.

FINANCIAL EXAMPLE

  • Purchase Price – £1,150,000
  • Average Monthly Rent/Studio – £511
  • Average Monthly Rent/Bedroom – £392
  • Total Monthly Rent – £9,817
  • Gross Income – £117,808
  • Costs Per Annum – £30,446
  • NET Income – £87,362
  • NET Yield – 7.6%

COST BREAKDOWN

  • Letting Fee’s (8%+vat) – £11,309
  • Gas, Electric, Water (General Bills) – £14,137
  • Maintenance Allowance – £5,000

RELEVANT BLOGS

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