€ 26,502 | USD $ 29,009
Advert last updated: 12/14/2015
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Completed and tenanted student accommodation in Manchester. Monty Halls has 142 student bedrooms in the quiet residential neighbourhood of Alexandra Park and is only 10 minutes from the Manchester universities.
Purchase Price £27,500.00
The management company has confirmed receiving at present; £75 per week x 44 weeks of the year = £3,300 Gross offering a high rental yield opportunity at 12% Gross of fees. In addition, the vacant weeks can be used for language student summer courses which would generate more income/yield. If you take a generic 20% management charge then a 9.6% Net minimum yield could be achieved.
In our opinion; this could prove to be a great investment as we witness the new management company coming on-board, improvements with general maintenance and marketing in relation to the letting side of the business and the newly formed committee/action group being elected by the owners, we can only see the rental being increased.
I would also mention we have received a number of enquiries for this unit and at present there is only one unit for sale as the owner are also witnessing the improvements being implemented and realise these low re-sale unit prices will be revised and definitely increase.
Monty Halls – Investor highlights
• The student population in Manchester is over 90,000
• Completed development
• BMV student accommodation
• Annual maintenance costs include Water, Gas, Electricity and Wifi
• On-site parking available – most developments have no car parking facilities
• 24hr on site management
• Spacious shared recreation area
• Hands free investment opportunity
Monty Halls – Features
• Mature gardens and leafy surroundings
• Extensive gardens
• Free minibus service to the city centre
• On site laundry facilities
• On site gym facilities (additional charge of £10 per term for gym use.)
• Bike store
Monty Halls has 142 student bedrooms in the quiet residential neighbourhood of Alexandra Park and is only 10 minutes from the Manchester universities.
The Buying Process
Purchase Price £27,500.00
£6,000 reservation (This includes a £1,000.00 administration fee)
Balance of £22,500 paid on exchange/completion of contracts
Immediate on exchange and completion of contracts.
Nearest Airports: Manchester International Airport, 5 km