Key Information
- 14 self-contained studio flats
- Popular central location
- Gross rental income: £128,388 per annum
- Price £1,450,000
- CCTV Security System
- Car Parking
- We are seeking offers in the region of £1,450,000 (One Million, Four Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Gross Yield of 8.85% and a Net Initial Yield of 7.45%, after the usual purchaser's costs. Investment Summary Freehold student investment in close proximity to the main University of Leicester Campus. 14 self-contained studio flats. Benefitting from Class C3 dwellinghouse use of the Town and Country Planning (Use Classes) (Amendments) (England) Regulations 2020. Gross rental income of £128,388.71 per annum, including additional income from on-site car park. 100% full occupancy for 2024/25 and 100% for 2025/26, illustrating an excellent track record.
The property comprises an attractive semi-detached period building of traditional masonry construction beneath a pitched slate roof which has undergone an extension and been re-developed to provide residential accommodation. The current layout comprises 11 self-contained studio flats in the original three storey building whilst the extension comprises 3 further self-contained flats. The accommodation itself comprises a good quality, modern specification, with each studio flat providing spacious student accommodation to include; a fully fitted kitchen, 3/4 bed with en-suite shower room, desk, sofa, TV and built in wardrobe. On-site facilities include: - Intercom system - Gas central heating - En-suite shower rooms - CCTV security system - Cycle store - Car parking - WiFi Externally, the property has the benefit of on-site car parking, cycle storage and refuse storage. The car park spaces provide an additional income.
Location
Leicester has a diverse demographic profile, having a population of circa 324,000 according to the 2021 census. Renowned for its two award winning universities, there are approximately 50,000 enrolments between them. Notably, University of Leicester that has been ranked within the top 200 globally and been named by the Daily Mail has the University of the Year for 2025. De Montfort University is ranked amongst the top 25 UK universities and is placed in the top 7% globally by the Centre for World University Rankings (CWUR). The property is well-positioned on the southeast side of West Walk in Leicester, in-between its junctions with Regent Road and Princess Road East, approximately 1 mile southeast of the city centre and within the New Walk Conservation area. The property is well-positioned, within walking distance of the city centre, the Mainline Railway Station, Leicester Royal Infirmary and both of Leicester's award-winning universities, University of Leicester and De Montfort University. Other major attractions include Victoria Recreational Park, Wyggeston and Queen Elizabeth I College, Leicester Tigers Rugby Club and Leicester City Football Club. Locally, there is a wide food and beverage offering on London Road and Queens Road, whilst the city centre also provides a wide variety of amenities associated with an established city centre. Transport links are excellent, having London Road (A6) nearby, a major arterial route into the city which links to St. Georges Way, forming part of Leicester's inner ring road system and further connecting to the motorway network, J21 of the M1/M69.
VAT
All figures are exclusive on VAT.
Services
We understand that main gas, water, electricity and drainage supplies are available and connected to the property. These have not been tested and are not warranted to be in working order. Interested parties are advised to make their own investigations to the relevant utility service providers.
EPC
Available upon request.
Legal Costs
Each party is to bear their own legal costs incurred.
Planning
We understand that the property has authorised use from the Local Planning Authority under Class C3 Dwellinghouse Use of the Town and Country (Planning) (Use Classes) (Amendments) (England) Regulations 2020. Interested parties are advised to make their own investigations to the Local Planning Authority.
Viewing
Viewings are by appointment with sole agents Innes England