Richmond Lodge, 1 St Lawrence Road, Plymouth, PL4 6HN
- PROPERTY TYPE
Studio
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- To be offered on Tuesday 16 April
- Investment let at £165,000
- p.a. (It is anticipated for rent to increase in the 2024/25 academic year between £173,000 p.a. to £182,00 p.a. please refer to tenancy schedule)
- An attractive 13.2%
- GIY on guide (anticipated to improve for 2024/25 academic year)
- Historically 100% occupancy rate
- Potential for SDLT savings (incoming purchaser needs to do their own due diligence)
- Comprises of 3 x flats and 4 x studios
- Total of 27 Letting rooms
- All rooms are double beds with en-suite bathrooms
Description
StrapLine
Auction Sale - 16/04/2024Of Interest to Investors
Prime student investment located an approx. 50 metres from Plymouth University, fully let for 2023/24 and 2024/25 academic year.
Investment let at £160,000 p.a. (It is anticipated for rent to increase in the 2024/25 academic year between £173,000 p.a. to £182,00 p.a.)
Description
Renovated in 2011 the property comprises of a 3 storey end of terrace Victorian building. Internally the building has been developed to provide 3 flats and 4 studio apartments.
Developed to a high specification in 2011 all the studio rooms benefit from a double bed with storage, en-suite bathroom, micro kitchen, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points, high speed fixed internet sockets and Wi-Fi together with TV points.
The three cluster flat rooms benefit from a double bed with storage, en-suite bathroom, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points. In addition to this there are communal lounge/kitchen areas.
Location
Road access to the city is provided by the A38 dual carriageway, which lies approximately 3 miles to the north of the city centre and connects with the M5 motorway at Exeter approximately 45 miles distant.
The property is situated in a prime student accommodation area to the north of the retail centre of Plymouth and 50 meters north of Plymouth University campus, ½ mile from the shopping district of Mutley Plain and ¼ mile from the main city centre.
Plymouth’s railway station is an approx. 0.3 miles west of the of the property with the town’s main bus station ½ mile in south west of the building.
Transport
Plymouth Railway Station - National Rail services
Tenancy
Let on AST's agreements on a mixture of 43/50 weeks
Accommodation
There is a total of 27 letting rooms throughout the property.
The accommodation is broken down as follows:
- Flat 3 a 7 Bedroom cluster flat (rooms 13.6 sq m – 24 sq m)
- Flat 6 a 8 Bedroom cluster flat (rooms 12 sq m – 24 sq m)
- Flat 7 a 8 Bedroom cluster flat (rooms 11 sq m – 18 sq m)
- Studio Flats 4 x Studio flats (size 17 sq m – 23 sq m)
Energy performance certificate - ask agent
Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.
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Richmond Lodge, 1 St Lawrence Road, Plymouth, PL4 6HN
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Plymouth Station0.3 miles
- Devonport Station1.5 miles
- Dockyard Station1.8 miles
About the agent
Savills Auctions, London
33 Margaret Street London W1G 0JD
Savills Auctions are specialist residential and commercial property auctioneers with an unrivalled depth of experience and market knowledge.
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Savills Auctions, London on 020 3909 6715.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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