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Studio flat for sale

Cornwall Works, Kelham Island, Sheffield

Under Offer £89,995

Property Description

Key features

  • Cornwall Works Phase 2
  • Guaranteed 8% Net Yield Years 1-3
  • Completion Q3 2019
  • Just 35% Deposit Pre-Completion
  • Year 1-3 Service/Management Charges/Ground Rent Paid
  • Studios From 89,995
  • High Specification
  • Reserve TODAY!

Full description


CALLING ALL INVESTORS - This stunning new development is set within Sheffield's property hotspot - THE KELHAM ISLAND QUARTER! The development comprises 48 self-contained luxury studio and one bedroom apartments and is the second phase of the hugely popular CORNWALL WORKS development that is fully built and 100% tenanted! Parking is available to purchase for an additional fee.

The development will suit cash investors, with just a 35% deposit required prior to completion and ZERO SERVICE CHARGES, MANAGEMENT FEES AND GROUND RENT FOR THE FIRST THREE YEARS!

This is a brilliant, HANDS OFF investment that is fully managed by Belvoir! Sheffield.

Please call the office on 0114 252 5215 for full details - ONLY A FEW UNITS LEFT!

Why Sheffield? - Sheffield remains the next buy to let investment hotspot within the North due to multi-million pound
commercial and government investment by 2021, rising property prices and the city being recently named as
the best city for university graduates in the UK.

The former industrial area of Kelham Island is on track to become the most desirable area to live within Sheffield, due to
its eclectic mix of real ale pubs, award winning restaurants and riverside bars. This is being reflected in rapidly increasing
property prices for residential and buy to let investment, as well as rental demand that is soon to overtake the City

Over 65,000 students study at Sheffield's two universities, including more than 7000 international students. The city recently topped a list of university cities that could benefit from more student accommodation; the universities are only able to provide 11,369 bedrooms to more than 46,890 full time students, leaving a massive 76% looking for accommodation in the private rented sector. Knight Frank has recently forecast this student population will increase by 15-20% over the next 5 years.

A Vibrant City - Sheffield has a reputation for being one of the friendliest and safest cities in the UK. There is something to suit everybody including a vibrant pub and club culture - Sheffield was home to Gatecrasher! - the largest theater complex outside of London, art galleries, sports facilities and the famous Meadowhall shopping centre - to name but a few! Almost a third of the city lies within the Peak District National Park, making Sheffield a truly inspirational place to live, work and study.

Buy To Let Market - Sheffield is the next big Buy To Let hub within the North, with recently naming it as having the best BTL returns of any city in the UK across more than 2,600 postcodes. Rental properties in Sheffield are snapped up in an average of three days, with upto five tenants per available property.

Kelham Island - Kelham Island's riverside setting, central square and award winning pubs, bars and restaurants ensure that it is going to remain the most desirable area to live and invest in across the entire city. The area attracts an eclectic mix of residents and is ripe for investment, and has become 'the place to be' for every social occasion, due to award winning real ale pubs and the Kelham Island Brewery; the Kelham island Tavern is the only pub to have won the CAMRA National Pub Of The Year Award for two years running!

Design And Build - The apartments will be ultra high specification with a level of design that is unmatched in the area, featuring furniture sourced from the top designers from around the world and luxury kitchens and bathrooms.

Belvoir! Management - Belvoir! Sheffield is located within the vibrant Cathedral Quarter in Sheffield city centre, perfectly located amid the historical landmarks present in The Steel City. Belvoir! Sheffield have always been known as ‘The Lettings Specialist’ and for good reason – we are the largest franchised lettings agent within Sheffield and our Lettings Team are experts in their field! We offer a range of Managed and Tenant Find options for professional landlords, as well as in-house Property Management that we can tailor to your individual needs, coupled with additional services such as Rent Guarantee and insurance for landlords and tenants. We offer a full range of added benefits for tenants including a 24 emergency maintenance line, insurance and access to The Tenant Shop.

Financial Forecasts - Year 1

Monthly Rent - £575pcm
Annual Rent - £6,900.00
Deductions - ZERO
Net Rent - £6,900.00
Net Yield - 7.7%
Asset Value* - £109,014
5 Year ROI - 28.8%

Year 3

Monthly Rent - £621.92
Annual Rent - £7463.04
Deductions - £1503.42
Net Rent - £5,959.62
Net Yield - 6.6%
Asset Value* - £115,652.95
5 Year ROI - 50.8%

Year 4

Monthly Rent - £646.80pcm
Annual Rent - £7,761.56
Deductions - £1563.56
Net Rent - £6,198.00
Net Yield - 6.9%
Asset Value* - £119,122.54
5 Year ROI - 61.5%

Year 5

Monthly Rent - £672.67
Annual Rent - £8,072.02
Deductions - £1,626.10
Net Rent - £6,445.92
Net Yield - 7.2%
Asset Value* - £122,696.22
5 Year ROI - 72.6%

Purchase Process - 1) Reserve your unit with a £5,000 reservation deposit (including £1000 admin fee)
2) On exchange of contracts pay 35% (less £4000 from reservation deposit)
3) The remaining 65% will be paid on completion (please note, furniture pack payment will be due prior to completion)
4) Rolling rental contract with 7.7% yields

Disclaimers And Advice - We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, including but not limited to heating, plumbing or electrical systems and any appliances (if included in the sale) listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller by separate negotiation. If you already have or are considering purchasing a property to let, please contact us for specialist advice.

More information from this agent

Listing History

Added on Rightmove:
08 February 2018


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