Property description
A licenced 7 bedroom student investment property offering an excellent return of 8.25% gross.
This 7 bedroom student property is located close to Exeter City centre, only a short walk to both the main campus and St Lukes. The property has 5 large double bedrooms, with 2 smaller ones. The property is laid out over 4 floors with a large kitchen diner occupying a whole floor to itself. There is a separate living/storage room on the ground floor and bathrooms on first and second floors.
Currently tenanted by 7 students until the end of July 2017 generating an annual income of £30,107. A group of students have been secured for the 17/18 academic year with the same income giving a secured return on investment until August 2018.
The property has always proved popular to students due to its well proportioned bedrooms and plentiful living space. It offers an excellent investment opportunity for someone looking to get into the student market for the first time or expand on an existing portfolio.
The current rents are fairly conservative so there is certainly scope for improvement on the income in the future, as well as the opportunity to convert the ground floor living/storage space into an additional bedroom.
Hellier Ridley Ltd currently manage the property so we are happy to help with any questions you might have.
Tenure: Freehold.
The property is Grade II Listed.
Property Features :
- Student Investment Oportunity
- Annual Income of Over £30,000
- Income Secured Until July 2018
- Gross Return of 8.25%
- Popular with Students