I have a purpose built student accomodation that I would like to put up for sale. The property is located at Alexandra Park close to the university of Manchester complex. The student room is part of a development of over 200 student rooms which share bathrooms, kitchen etc.
This development is ideally aimed at students looking for low-cost budget accommodation, with rents going at £80 per week. Simply Residential is the main and leading letting agent at Montgomery Halls, who is extremely active at securing tenants for the property. The property also boasts of:
-free on site gym
-free wifi throughout building
-On site management team
-Heating throughout the building
-Newly refurbished common rooms
-Extensive maintained gardens and parking on site
-Laundries on each floor of the building
On top of this, my student room has been recently touched and furnished with thermal curtains, new shelves, bed frames and paint.
This investment opportunity is ideal for people who would like to get into property for passive rent generation or for investors who would like to expand their portfolios into student accommodations.
I am looking to sell for £5999 which is 50% below market value! Interested parties may contact me for more details and discussion.
Current service charges stands at £1800 per annum
Ground rent £200
Rent per annum: £80 x 44 weeks = £3520
Net profit = £1520/annum
All service charges and ground rent have been paid on time so there is not hidden costs involved.