1 Bedroom Flat For Sale

Asquith House is a purpose built student development, perfectly situated just 5 minutes walk from the main University of Leeds campus, and less than 10 minutes to Leeds Metropolitan University. Asquith House comprises of 298 ensuite student bedrooms and studios developed over 7 levels. Units range from 13-15sqm ensuite rooms starting at £52, 995, up to luxury studios ranging from 21-24sqm starting from just £72, 000.

For investors, Asquith House comes with a generous rental return minimum of 8% net for the first five years. Should rental incomes surpass this figure, then the additional rental income would be passed through to the investor.

How large is the development?
The whole development will house a total of 298 student bedrooms and studios spread across the 2 separate blocks Asquith House and Austin Hall. Asquith House has 156 student bedrooms and studios and Austin Hall 142.

Is it a new build or a refurbished development?
It is a new purpose built student accommodation.

What shared Facilities are provided?
Each student bedroom will have access to a shared communal area complete with kitchen, dining area and lounge.The ground floor on both blocks gives access to:
Reception with lobby and seating area
Shared onsite launderette
Communal toilets
Cycle Storage
CCTV security cameras
Bin store

Are the rooms furnished?
Yes- All rooms will be furnished to the highest specification. Please see brochure for room specifications.

When will it be occupied and when will I receive my income?
Urban Student Life (usl) will manage the development. They will be working with education providers in the Far East as well as local students to ensure that the rooms will be let as soon as possible following completion. The as- sured yield will be paid quarterly from completion direct into the purchaser’s bank account.

Who will manage the development?
The development will be managed by Urban Student Life; a specialist in managing student accommodation. The management costs are around 25%. This covers operating costs, management and service charges. The operational costs include insurance, staffing, marketing, cleaning utilities and office services. This also includes a sinking fund to cover maintenance and repairs, remembering that students pay a deposit with a parental guarantee to cover any individual damages.

How do I reserve a property?
You complete a reservation form and pay a reservation fee. We have a reservation form for each development. If you wish, you can use your own reservation form, but please refer to us for approval. The standard reservation fee for this development is £3000 which must be sent to us with the reservation form. Upon verbal reservation of a unit, reservation forms must be received within 48 hours and fees must be received within 3 days.

The payment will be structured over three instalments; 50% (less the reservation fee) of the purchase price (paid at the point of exchange), a stage payment of 30% (paid 2 months after exchange) and a final payment of 20% on completion (Estimated completion date January 2015).

Lease: All units on Asquith House will be sold on a 999 year lease basis.

Lease/Ground Rent: £500 per year

Completion Date: Estimated completion date for Asquith House, Leeds is Janaury 2015.