Studio flat for sale

DEMESNE ROAD, Manchester, M16

Fixed Price £19,750

Property Description

Key features

  • Low cost student investment property
  • Fully managed investment opportunity
  • Currently tenanted unit
  • Earn immediate rental income of 7.1% net
  • Opportunity for capital appreciate

Full description

Tenure: Leasehold

Opportunity to purchase a completed and tenanted unit in the popular Montgomery Halls development in central Manchester. There are no new student developments being granted planning permission in Manchester (home to over 105,000 students), and as such student pods for sale in existing, operational developments such as Montgomery Halls are now at a premium. As such, these units offer substantial opportunity for capital appreciation as well as a consistently high yield starting in September 2016.

An existing and fully operational student development, the student pods for sale in Montgomery Halls offer our investors one of the best opportunities to invest in the rapidly expanding student accommodation investment market. Despite weekly rental fees being increased up to 90.00 per week for a standard room, Montgomery Halls still offers one of the lowest priced student accommodations in central Manchester, creating a consistent demand from tenants studying at one of the cities three major universities.

This development has undergone significant changes in recent years, and is now fully managed by one of the UKs leading property management companies, the Residential Management Group. With the RMG Group recently appointed by the managing committee of owners/landlords, Monty Halls presents a significant opportunity for investors seeking to invest in the rapidly expanding UK student property market.

Montgomery Halls - Investment Highlights
- The student population in Manchester is over 105,000
- Three major universities
- Fully managed student development
- Completed and fully operational student development
- BMV student accommodation
- Prices include Water, Gas, Electricity and Wifi through the building
- On-site parking available - most developments have no car parking facilities
- Large spacious gardens including BBQ area
- 24hr on site management
- Spacious shared recreation area

Introduction to the Student Pods
Although Montgomery Halls consists of over 250 operational student units, the vast majority of these are comprised of the standard size student pods. These measure 10.00sqm, and come complete with a wash basin, 3/4 size bed, desk and wardrobes. All units are fully managed by RMG Lettings on behalf of the investors. Tenancies typically commence on the 12th September, and tenancy agreements are typically offered between 37 and 44 weeks for these units.

Investment Breakdown - Student Pod (10.00sqm)
85.00 per week x 37 weeks = 3,145.00 per annum
- 7% lettings fees = 220.15
- Service charges = 1,674.16
Net Annual Income = 1,250.69
Net Annual Yield = 6.58% (based on unit price of 19,000.00)

Montgomery Halls - Features
Mature gardens and leafy surroundings
Free parking
Extensive gardens
Free minibus service to the city centre
On site laundry facilities
On site gym facilities (additional charge of 10 per term for gym use.)
Bike store

Montgomery Halls - Purchase Price
Standard Pod (one only) - 19,000.00 (850.00 plus VAT finders fee not included)

Monty Halls - Buying process
Stage 1. Complete reservation form and pay deposit of 6,020.00 (includes finders fee of 850.00 plus VAT)
Stage 2. Solicitor instructed, legal's and sales pack sent out
Stage 3. Balance paid on exchange and completion of contracts, within 28 days

Listing History

Added on Rightmove:
09 January 2015

Nearest stations

  • St Werburgh's Road (1.0 mi)
  • Chorlton (1.2 mi)
  • Trafford Bar (1.5 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Hopwood House Limited, Manchester

The Forum Windmill Lane, Denton, M34 3QS

0161 468 0126 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 stations

  • St Werburgh's Road (1.0 mi)
  • Chorlton (1.2 mi)
  • Trafford Bar (1.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hopwood House Limited, Manchester

The Forum Windmill Lane, Denton, M34 3QS

0161 468 0126 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 HHUKMANMTY01. 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 Hopwood House Limited, Manchester. 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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