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65 bedroom apartment for sale

Forster Street, Nottingham, NG7

Guide Price £3,250,000

Property Description

Key features

  • 65 bed student investment opportunity
  • 14 self contained units
  • Fully Occupied for 16/17
  • Gross Income 323,856.00
  • Approximate Net Yield of 7.3%
  • 50,000 per bed
  • Well Positioned for both universities
  • Rent Increases for 17/18

Full description

Student Investment for Sale. Newly Refurbished and Fully Occupied development available at an approximate net yield of 7.3%.

FHP Student Living are delighted to present a fantastic investment opportunity, located within walking distance of both University of Nottingham campuses at their Jubilee campus and University Park, as well as the City campus of Nottingham Trent University.

The 65 bed development, new to the market for 2016/17 having been fully renovated to a good standard, is fully occupied for the academic year 2016/17 and is currently being marketed for 2017/18.

The development consists of 14 self contained units ranging from studios to 6 bed apartments at an average rent of £95.82 pp pw. The total gross income for the 2016/17 academic year is £323,856.00. The rent received is fully inclusive of utilities and after considering management and operating costs, we expect the net income to be approximately £217,361.92

Rents for 2017/18 are expected to be higher at an average of £102 pp pw with a forecast gross income of £345,436.00 and approximate net income of £235,057.52 making for an approximate net yield of 7.3%

A covenant of the sale is for Purple Frog Lettings Agency to retain the lettings and management for a period of 3 years at a fixed fee of 8% + VAT

Full details of costings can be available upon application through FHP Living.

Floorplans and EPCs are fully available upon request

Contact Jonty Green at FHP Student Living on 01158411155 for more information.

Property Misdescriptions Act 1991 - all statements contained within this brochure have been provided in good faith and are understood to be accurate although cannot be guaranteed as we rely on information provided by others. Potential purchasers should satisfy themselves as to the validity of the information contained either by inspection or through their solicitors prior to any exchange of contracts to purchase. Services have not been tested and purchasers are recommended to undertake independent tests on all services and mechanical installations prior to exchange. Details correct at time of going to print.

More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
17 November 2016

Map & Street View

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