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12 bedroom detached house for sale

The Old Methodist Chapel, Gilesgate - Student Investment

£560,000

Property Description

Key features

  • 9.05% Net Yield
  • Student Investment
  • Twelve Bedrooms
  • 6 Bedroom Ground Floor Flat & 6 Bedroom Upper Floor Flat
  • Ideally Located in Gilesgate
  • Fully Let till June 2019
  • EPC Rating: D
  • Four Bathrooms & two separate W/C's
  • Continuously Fully Let Since 2006
  • Fully Furnished

Full description

12 Bedroom Student Accommodation, Two 6 bedroom Flats, Next to Renny's Lane Development, Former Methodist Chapel, 9.05% Yield

This property offers twelve students rooms split into two flats of six rooms located on each of the two floors. Each flat shares the same blueprint to ensure the communal areas are not located above bedrooms. There are six bedrooms on each floor all currently with double beds with a minimum size of 8.3 square metres. The generous living rooms and large kitchen space ensures these flats remain popular year on year with the student community with the demand for property in Gilesgate becoming increasingly popular.

The property has been continuously let since its redevelopment from office space to student accommodation in 2006 and is currently let until 30th June 2019 generating a net rent of £50,694.96 (minus a standard management fee of 12%+vat this would make £43,394.89) equating to a net yield of 9.05%.

Ideally located next to Tesco Extra and the new Rennys Lane student development, ensuring student amenities are within walking distance. The property will also benefit from the new student only bus service operating from Rennys Lane to the Mountjoy Centre at the University.

A video walkthrough is available upon request by email to elvet@elvetestates.co.uk. Viewings can be arranged by calling Elvet Estates on 0191 375 7000


More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
20 December 2016

Nearest station

  • Durham (1.5 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

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To view this property or request more details, contact:

Elvet Estates, Durham

85 New Elvet, Durham, DH1 3AQ

0191 687 0115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans

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To view this property or request more details, contact:

Elvet Estates, Durham

85 New Elvet, Durham, DH1 3AQ

0191 687 0115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest station

  • Durham (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Elvet Estates, Durham

85 New Elvet, Durham, DH1 3AQ

0191 687 0115 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7176729. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Elvet Estates, Durham. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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