Latest Valuation

100% Occupancy for the past 6 Years – 14.7% ROCE

Popular Student Area of Plymouth
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Key Features

  • 100% Occupancy for the last 6 Years
  • Newly Refurbished in 2014
  • 30 Bed and 30 En-suites - Modern Living Accommodation
  • Yield - 9.1% - ROCE 18.7% (Self-managed)
  • Established Student Accommodation with a Great Reputation
  • Save £116,250 in SDLT due to Multiple Dwelling Relief

The Property

A well-established, newly refurbished student accommodation block with 100% occupancy over the past 6 years.

This is a straightforward buy-to-let that provided a healthy annual income, year after year.

A former 1925 Clubhouse which was converted in 2014 into an impressive 30 bedroom, 30 en-suite student living accommodation. CCTV and key fob entry ensure the safety of your tenants and making your investment more secure.

The property is divided into 9 self contained dwellings - 4 x studios, 2 x 4 bedroom flats, 2 x 5 bedroom flats and an 8 bedroom loft apartment.

Each studio has a fitted kitchen with full-size fridge/freezer, oven and microwave. Plenty of storage, a 50” HDTV and an en-suite with bathtub. Each studio is kitted out with a king size bed and additional bedroom furniture.

4 and 5 Bedroom Flats:
Each of the 4 bedrooms has a full double bed, an en-suite bathroom with power shower in addition to a wardrobe, desk, desk chair, storage cubes, bedside table and full-length mirror. The open plan kitchen/diner has sofas and a breakfast bar. Fitted oven, hobs, microwave, 2 full-size fridge freezers and a dishwasher! The 50” HDTV has Freeview HD and Internet connectivity.

8 Bedroom Loft Apartment:
An exclusive loft apartment with its very own floor right at the top of the property. Each bedroom has an en-suite bathroom with power shower and a full double bed, with high quality fitted furniture in each room. The open plan kitchen/diner has been designed with 8 people in mind – with double the number of fridges, ovens and dishwashers! Lounge area kitted out with bean bags, sofas and a 50” HDTV.

DID YOU KNOW - This property will benefit from 'Multiple Dwellings Relief' for SDLT. You will save over £116,250 in SDLT (Pay £67,500 instead)

Finances - Assuming a mortgaged purchase (75% LTV):
Asking Price: £1,800,000
Deposit: £450,000
Purchase Costs: £92,500
TOTAL Cash Outlay: £542,500
Gross Income: £163,728 pa
Net ROCE: 15.0% (Managed)
Net ROCE: 18.7% (Self-managed)
Gross Yield: 9.1%

Recent accounts and costs available upon request.

The owners have a fantastic website advertising their property and business. Please feel free to visit it at:

Other Information:
All tenants have signed AST's (Sample copy of the agreement available upon request)
Each tenancy runs for 48 weeks (Possible to extend to 50 weeks for new tenancies - additional £6,800 per annum)
All units have valid EPC's in place (Copies available from us or from:
The property is held in a LLP
Reason for sale - Relocation

Planning Information


The Plan

No refurbishment required, no hassle at all - opportunity to acquire an established student accommodation unit with an excellent track record with a large number of bookings already made for 2020/21 academic year.

Finances - Assuming a mortgaged purchase (75% LTV):
Asking Price: £1,800,000
Deposit: £450,000
Purchase Costs: £92,500
TOTAL Cash Outlay: £542,500
Gross Income: £163,728 pa
Net ROCE: 15.0% (Managed)
Net ROCE: 18.7% (Self-managed)
Gross Yield: 9.1%

The Location

The property is located at the intersection of Mutley Plain and Ermington Terrace to the north of Plymouth city centre.

It is well located for the University and for public transport, with the University campus approximately 0.4 miles south west of the property and the main railway station only 0.5 miles west, which provides direct trains to London and Bristol.

The property is on the doorstep of a number of shops including a Tesco, Sainsbury's and a Post Office.

Average estimated value for a house in PL4


The property has had 100% occupancy for the past 6 years - with increasing rent rates!

Mutley is the known 'student area' of Plymouth and remains very popular.