Studio flat for sale

Greenbank Avenue, Plymouth

£79,950

Property Description

Key features

  • Purpose built student accommodation
  • 8% Net Yield
  • 3 Year Rent Guarantee
  • Fully Furnished and Managed
  • Plymouth University is just a short walk away

Full description

Tenure: Leasehold


SUMMARY
North Hill Court is a brand new, purpose built development of 39 studio and 1 bed student apartments. This fully managed student accommodation has a much sought after central location in the beautiful city of Plymouth. 8% NET YIELD!


DESCRIPTION
North Hill Court is a brand new, purpose built development of 39 studio and 1 bed student apartments. This fully managed student accommodation has a much sought after central location in the beautiful city of Plymouth.

The highly acclaimed Plymouth University is just a short walk away, as is the Plymouth College of Art; and in a thriving student city where there is a shortage of student properties, these apartments provide much needed modern, student accommodation, as well as a desirable investment opportunity

CONTACT US TODAY TO CHECK AVAILABILITY

Location 
Located on the south coast of Devon, Plymouth is a city of stunning natural beauty, and is a thriving industrial and academic centre. From the cobbled streets to the breath-taking harbour and the stunning architecture of the
beautiful historic churches, you can see that Plymouth is bursting with culture and a proud heritage. But it is also a vibrant city, where tourists and residents can choose to enjoy the hustle and bustle of city life, or indeed the more tranquil lifestyle provided by coastal rural living. Plymouth really is a city that offers a bit of everything. As a thriving port city, Plymouth has almost 300 marine and maritime businesses, the largest cluster of its type in the South West. Plymouth's position as a city of significant naval and maritime importance is undeniable, and as a result the city came under significant attack in World War II, with it having to be rebuilt post war.

The Development 
The new build development at North Hill Court is the perfect location for student accommodation, with Plymouth University and the Plymouth College of Art just a 5 minute walk away, whilst Marjon University is a 5 mile journey by car or public transport. Furthermore, the train station, providing national rail links, is also just a short walk away, as is the Drake Circus shopping centre, Addison Park, the Nancy Astor Sports Centre, and a large supermarket. It really doesn't get more central than this! With everything you could possibly need right on your doorstep, North Hill Court is a highly desirable place to live. The three storey development consists of 39 fully furnished apartments, managed by an experienced property management company. All of the apartments are completed to a high specification, and finished with contemporary fixtures and fittings. There is Wi-Fi throughout the building, which supports students in their study and downtime, as well as communal lounge areas and communal gardens for students to relax and socialise. Security measures have been considered as part of the design of this development and as such there is secure fob access, and CCTV in operation 24 hours a day.

How It Works 
Both the studio apartments and 1 bed apartments are due to be completed by Q1 2019. These apartments are being sold on a leasehold basis of 250 years, with the financials on each style of apartment demonstrating an 8% net rental yield, which will be guaranteed for 3 years.

• Select your desired studio apartment
• Complete the reservation form and pay £5,000
deposit
• Solicitor instructed, legal documents and sales
pack sent out
• Exchange contracts within 28 days
• 50% of balance to be paid on exchange of
contracts
• 25% of balance to be paid June 2018
• 25% of balance to be paid on build completion
• Management Fee = £1,200
• Ground Rent =£350
• Net Yield = 8%

Faq 
Where is the property located?
47a North Road East, Plymouth, PL4 8PS

How many apartments are in the development?
The property will consist of 39 purpose built student
apartments

When will the building be completed?
The property will be completed for Q1 2019

What is the rental assurance?
Each property in the development will provide apartment owners with an 8% assured NET rental
income for the first 3 years following completion

How does the assured yield work?
The Assured Rent of 8% NET per annum is payable throughout the rental assurance period by the developer. Payments will be paid to owners throughout the 3 year assurance period, directly into
any bank account in the world as stipulated by the purchaser. The amount of assured rent is specified in the agreement for sale and management agreement.

How do I reserve an apartment?
Once you have selected an apartment with the help of your consultant, your selection will be confirmed through completion of the reservation form and payment of a £5,000 reservation fee.

What happens to the reservation fee?
The reservation fee is paid and forwarded to the developer as part of the purchase price; your solicitor will ensure that this is deducted from the total purchase price during the legal process.

How much is the ground rent?
The ground rent is £350 per annum for each of the apartments

How long is the lease of each apartment?
The lease is 250 years from completion

The Developer 
Harrison Homes is a visionary property development company, specialising in luxury builds crafted to your every design want and need. A sharp combination of years of experience, detail oriented approach and fully in-house expertise means every home we design emerges a uniquely exceptional, beautifully made creation. Our outstanding teams' years of success are based on redeveloping existing properties to a sleek blend of modernity and grandeur, or starting from scratch with new builds that are constructed exactly according to the specification agreed. We have created properties in sought-after locations such as the Cheshire area, Alderley Edge, restbury, Wilmslow and Handforth. We also refurbish listed buildings, creating truly stunning homes that will last lifetimes.


Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.


More information from this agent

Listing History

Added on Rightmove:
12 April 2018

Nearest stations

  • Plymouth (0.8 mi)
  • Devonport (1.9 mi)
  • Dockyard (2.3 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:

Fox & Sons, Mutley Plain

28 Mannamead Road, Mutley Plain, Plymouth, Devon, PL4 7AA

01752 966369 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


To view this property or request more details, contact:

Fox & Sons, Mutley Plain

28 Mannamead Road, Mutley Plain, Plymouth, Devon, PL4 7AA

01752 966369 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

  • Plymouth (0.8 mi)
  • Devonport (1.9 mi)
  • Dockyard (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Fox & Sons, Mutley Plain

28 Mannamead Road, Mutley Plain, Plymouth, Devon, PL4 7AA

01752 966369 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 MUP104804. 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 Fox & Sons, Mutley Plain. 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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