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Commercial Property for sale

32 Harwell Street, Plymouth, PL1

Removed £900,000
429 sq. m.

Property Description

Commercial information

  • 4,617 sq ft (429 sq m)

Key features

  • Student Investment
  • Close to University and City Centre
  • Fully let through to AUGUST 2018.
  • Planning consent for 6 additional rooms
  • Attractive net return of in excess of 7.5%
  • 16 rooms across 3 floors

Full description

Tenure: Freehold

The Town House is a prime city centre student accommodation scheme located 5 minutes' walk from Plymouth University campus. The scheme which is fully furnished to a very high specification has been designed and fitted to meet the requirements of the international student market. This sector commands the highest student rentals. The scheme is fully let for through to AUGUST 2018 on a 50 week letting to international students; these students are attending Plymouth University through the "gateway" of Plymouth University International College, the pathway provider for international students to the University.

The scheme comprises 3 self-contained "clusters" of accommodation. The scheme is 5 minutes' walk from the city centre, the campus and Sainsbury's. We are in receipt of various documents carrying further information. These are as follows:

Rental for the 3 floors for the 50 week term
Utility costs, insurance costs and agency fees for the scheme
Annual costs of maintenance, repair and servicing
Residual valuation for the extension.

The return on investment is highly attractive being circa 7.0% net after all deductions as referred to.

The accommodation comprises 3 separate "clusters" of accommodation situated over 3 floors.

The ground floor comprises 6 letting rooms and a very spacious communal leisure area.
The first floor comprises 4 rooms and a self-contained studio sharing a communal lounge.
The second floor comprises 5 rooms also sharing a spacious communal living area.

The rooms and the communal areas have been fitted out to the requirements of Cleverstudentlets and Plymouth University International College.

All communal areas have red leather sofas and wall mounted TVs. The communal areas are a key requirement of the international students being an area to socialise, cook and eat.

Furniture has been individually designed for each room to maximise the use of space being a fitted bed, shelves and desk. All the beds are double beds (4ft/4ft6") with full sized fitted storage units below.

The bathrooms are spacious and the showers fitted with shower doors rather than shower curtains.

Each floor has their own individual entry doors with an entry phone system. The entrance door to the building operates via a key fob. The fire alarm system is of a very high specification and is maintained by our commercial electricians.

More information from this agent

Energy Performance Certificates (EPCs)

Map & Street View

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