1 Bedroom Flat Sold in Loughborough, LE11
| Reference | 27512 |
| Address |
The Print House Development, Loughborough, Leicestershire (Map Location) |
| Beds | 1 |
| Baths | 1 |
| Type | Flat |
| Tenure | Leasehold |
We are pleased to offer this unit on the exceptionally popular Print House development in Loughborough. An existing student development which is perfectly located in the centre of Loughborough, it offers yields of 8%.
Description
Fully operational as a student hall of residence at present, the development will undergo 4 weeks of refurbishment work during the summer of 2014 designed offer the students high quality finishings throughout in time for the October intake of students. The refurbishment charges are fully included in the purchase price.
The Printhouse - Investment Highlights
Ensuite student pod (fully occupied) - £44,000.00 plus £1000 administration fee
Fully managed hands-free city centre en-suite student rooms and studios
Net rental guarantee of £3,132 per annum (paid quarterly in arrears)
Developer’s assurance supported by a rental reserve fund held in escrow during this period
A Land Registry recorded 250-year lease on your investment from day 1
Developer pre-funded designer facelift programmed for summer 2014
From year 3 net rental returns projected to increase
The building is perfectly located with rooms fully tenanted for 2013 – 2014
Investors free to sell their room at any time following exchange of contracts
The Printhouse - Our Summary
We visited this project recently to gain a better understanding of the project and the local area. The building itself is just 10 years old, and as such there are no requirements for structural to be undertaken upon the relaunch of the building. All required work is cosmetic, and will be focused around the interiors of the building. At present, the development is running at full occupancy, and the range of students covers all years, up to post graduates (who incidentally represent a large percentage of the student population at Loughborough due to the research facilities on offer).
The local area includes two other private halls of residence, both of which are similar in standard to the existing Printhouse development. They also run at high levels of occupancy showing a clear demand for this type of accommodation in the centre of Loughborough.
One of the key reasons why this type of accommodation is in strong demand in the local area is due to the relative shortage of HMO type properties on offer to students in Loughborough. Contrasting to other major cities, there are far fewer of these types of houses available for students in the centre of what is a relatively small town. With over 16,000 full time students, the demand subsequently is strong for these types of private halls of residence.
Investment overview-
Perfect Loughborough City Centre Location
8% Assured Net Rental Income
Large En-Suites and Studio Pods
Experienced Management Company
Property Features-
Storage
Kitchen with appliances
TV connection
High speed internet connection
All rooms are double glazed, and have energy saving heaters
Use of vacuum cleaner in each flat
Cleaning once a week of the kitchen and hallway within your flat
All aspects of the facelift will be done in consultation with the future management company to minimize heating and lighting bills, future maintenance costs, and to prolong the lifecycle of the fixtures and fittings. A sinking fund and handy repairman will also be in place to keep the building in pristine condition.
The Printhouse offers investors an exceptional and rare opportunity to purchase, high quality en-suite rooms and studios in a completely operational and fully managed student facility serving one of the UK’s most prestigious universities awarded University of the Year for Sports 2013.
Privately managed student accommodation, a core asset class for institutional investors, insurers and private pension funds is now available to private investors who are capitalizing on its safe, property-based attractive returns. It is proving a major success and the demand is rocketing.
Investors will receive a secure assured 8% Net Rental yield immediately from day 1 paid quarterly in arrears until the end of the 2015-16 academic year. There are zero planning permission or construction delay risks as The Printhouse is already built and has been operational for 10 years consistently achieving 95% + occupancy throughout.
Student property returns are still higher than any other student property type in 2013 and expected to be higher again in 2014 - Knight Frank Student Report 2014
The Printhouse - Purchase Process
Stage 1. Complete reservation form and pay deposit of £6,000 (includes £1,000.00 administration fee)
Stage 2. Solicitor instructed, legal and sales pack sent out
Stage 3. Balance paid on exchange and completion of contracts, within 21 days