- 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
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
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: https://www.studentclubhouse.com/plymouth
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: www.epcregister.com)
The property is held in a LLP
Reason for sale - Relocation