Key Information
- The property is fully let for 2024/2025 AY
- Close proximity to the Main University of Leicester campus
- Producing a Gross Rental Income of £560,277 per annum
- Price: £4,750,000 which reflects a gross yield of 11.80%
- The freehold interest is available at a purchase price of £4,750,000 which reflects a gross yield of 11.80%.
The property comprises an attractive part three storey, part four storey student accommodation block, made up of a new build and part conversion, re-developed during 2012. The accommodation provides 55 self-contained flats (70 beds) arranged as:- - 47 x studio flats - 2 x two bed flats - 5 x three bed flats - 1 x four bed flat The accommodation is finished to a high standard with the spacious studios being appointed with an ensuite shower room, 3/4 bed, desk, sofa, tv and built in wardrobes together with a kitchenette with oven, electric hob, microwave, dishwasher, fridge freezer and washing machine/dryer. The shared flats offer spacious rooms and are equipped to a similar standard as the studios, however these flats share a large open plan kitchen and living area. The property has a car park with 14 marked out spaces which is accessed via an electronic gated entrance situated off Knighton Fields Road East. Within the car park area there is also a cycle shed and bin storage area. The scheme is currently operated by Project Student who undertake the lettings and management of the property.
Location
Leicester is the second largest commercial centre in the East Midlands, located approximately 103 miles from London, 45 miles east of Birmingham and 27 miles south of Nottingham. The city affords excellent communication links lying immediately to the east of the M1 motorway, adjacent to junctions 21 and 21a. Local infrastructure, including the M69 motorway, provides excellent links to the M6 and M42. Hops House is located off the A5199 Welford Road, a main arterial route leading into the city centre. The property is situated at the corner of Burns Street and Knighton Fields Road East, within the popular residential suburb of West Knighton. The main University of Leicester campus is situated approximately a 20 minute walk to the north, whilst De Montfort University campus is less that a 30 minute walk to the north-west. Leicester Railway station is approximately a 35 minute walk to the north east. The popular and upmarket destination of Queens Road is situated nearby, which offers an extensive range of bars and retail services.
VAT
All figures quoted are exclusive of VAT. The property is not registered for VAT.
EPC
The majority of the flats have an EPC rating between B - C. A full list of domestic ratings is available on: www.epcregister.com.
Legal Costs
Each party is to bear their own legal costs incurred.
Viewing
Viewings are by appointment with sole agents Innes England