Flat for sale in Brayford Wharf East, Lincoln LN5
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Property features
- Fully furnished
- Hmo
- Tenants in situ
- 6 bed student apartment
Property description
The perfect investment opportunity !
Property Details: Spacious Fifth Floor Apartment 6 Bedrooms, 6 Bathrooms Area: 1,451 sqft Fully Furnished Leasehold EPC rating: To be announced Council Tax Band: E (Exempt) - Lincoln City Council
Key Highlights: Investment Opportunity - Hassle-Free Investment
Rental Details: Projected Gross Rent for Academic Year 2023-2024: £36,000.0 Projected Net Rent for Academic Year 2023-2024: £18,507.69
Yield: Gross Yield: 10.94% Net Yield: 5.63%
Property Description: The Junxion is a purpose-built student accommodation consisting of 569 rooms distributed among 99 apartments with 4,5, and 6-bed en-suite clusters. Each apartment is fully furnished and features a shared kitchen and living space. The location is ideal, situated next to the University of Lincoln and conveniently close to the City Centre.
Investment Details: This investment offers a completely hands-free experience. Professional property management company Mezzino handles all aspects, including property marketing, tenant rent collection, service charge management, and day-to-day building operations.
In this 6-bed cluster apartment, each student pays £125.00 per week for a 48-week tenancy, resulting in a total of £36,000.00. The Service Charge, currently £17,492.31 per year, covers all utilities, repairs, furniture replacements, and other expenses. These charges are evenly distributed across all 569 rooms, including provisions for vacancies and potential bad debts, minimizing individual risk. The Service Charge also includes contributions to a sinking fund for future repairs and replacements.
Property Ownership Information
Tenure
Leasehold
Council Tax Band
E
Annual Ground Rent
No ground rent
Ground Rent Review Period
No review period
Annual Service Charge
£17,522.00
Service Charge Review Period
No review period
Lease End Date
04/03/2204
Disclaimer For Virtual Viewings
Some or all information pertaining to this property may have been provided solely by the vendor, and although we always make every effort to verify the information provided to us, we strongly advise you to make further enquiries before continuing.
If you book a viewing or make an offer on a property that has had its valuation conducted virtually, you are doing so under the knowledge that this information may have been provided solely by the vendor, and that we may not have been able to access the premises to confirm the information or test any equipment. We therefore strongly advise you to make further enquiries before completing your purchase of the property to ensure you are happy with all the information provided.
Property info
For more information about this property, please contact
Purplebricks, Head Office, B90 on +44 24 7511 8874 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Purplebricks, Head Office, and do not constitute property particulars. Please contact Purplebricks, Head Office for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.