Five furnished student apartments with guaranteed profitability in a newly built residential complex.
The complex consists of 435 apartments.
Apartment sizes range from 20 m² to 25 m².
The cost of apartments varies from 148,665 £ to 198,627 £.
- £ 5,000 reservation deposit + £ 495 admin fee
- 30% payable on the exchange of contracts – within 30 days
- balance paid on completion
Each apartment includes a living room combined with a kitchen and a dining area and a bathroom.
The complex may offer at residents' disposal: a multipurpose cinema with a projector and popcorn machine, a fitness room, a joint work area, a dining room with an access to the terrace, a restaurant, a living room with a sofa, a fireplace and a large screen, a laundry, a swimming pool, a games room with an X-box and a PS4. The owners may use services of management company, which assumes responsibilities associated with searching for tenants, singing lease agreement, property maintenance, managing, tenant communications, renovation, etc.
The cost of the apartments is 822,710 £.
Absolute annual income after deduction of expenses is 51,772 £.
Net yield is 6.3%.
The cost of ownership
The cost of the management company, including the service charge, is 6,360 £.
Ground rent is 2,475 £.
The property is located in a suburb of Southampton, where two universities are situated and more than 40,000 students live. A train station, a supermarket, cafes, shops and banks are located in a walking distance from the building. The University of Southampton can be reached on foot in 9 minutes, and the Solent University is in a short drive away.