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7 Freehold Letting Properties with Tenants
Currently Achieving Annual Rental Income £66,000
Potential Annual Rent Achievable: £90,000
Potential Annual Yield Achievable: 7.05%
Ideal For Investor with Buy-To-Let Interest
Strong Property Value Growth Area
EPC - Portfolio
This is a portfolio of 7 investment properties, predominantly student lets, set around the Huddersfield area. The properties utilise the tremendous demand for student accommodation in the Huddersfield area thanks to the rapidly growing University.
The University now provides courses for over 23,000 students and has been awarded many awards for its teaching. Plans are afoot to extend the University even further adding another 4000 students over the next two years.
As a consequence the pressure on student accommodation, which is already substantial, will be increased and expectations are that with Kirklees Borough Council's restrictive planning permission agenda for new build properties, this demand will only get stronger.
The houses offer a spectrum of accommodation from 2 letting room terraced houses to spacious detached houses. Most of these are within easy distance of the university itself.
Because of the owners other business interests, a decision to allow the estate to be managed by Agents has been taken. It has been the agenda of the letting agents to ensure that occupancy is maintained, as a consequence the highest yields have not been achieved. The owners feel that a rent of £90,000 per annum is easily achievable from the portfolio should a more aggressive tact be taken.
This would then represent a yield of 7.05% per annum against current expected market value of £1.4 million.
Furthermore, there is also the capital appreciation of the assets themselves. Although predictions of rises in property values is a notoriously speculative issue, Huddersfield is expected to see growth of approx. 8% in residential house prices in the coming years.
It is also of note, that another property portfolio in Huddersfield is also on the Market with Blacks Brokers, catering to a similar student market. It may also be of note that there is a tie up at Director level between the portfolios.
For more information about this property, please contact Blacks Business Brokers, BL9 on +44 161 937 5978 * (local rate)
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