Studio for sale in St. Lawrence Road, Plymouth PL4
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Property features
- To be offered on Tuesday 16 April
- Investment let at £165,000
- P.a. (It is anticipated for rent to increase in the 2024/25 academic year between £173,000 p.a. To £182,00 p.a. Please refer to tenancy schedule)
- An attractive 13.2%
- Giy on guide (anticipated to improve for 2024/25 academic year)
- Historically 100% occupancy rate
- Potential for sdlt savings (incoming purchaser needs to do their own due diligence)
- Comprises of 3 x flats and 4 x studios
- Total of 27 Letting rooms
- All rooms are double beds with en-suite bathrooms
- An approx. 50 metres from Plymouth University
- An approx. 0.3 miles from Plymouth Station
Property description
Strapline
Auction Sale - 15/04/2024
Of Interest to Investors.
Prime student investment located an approx. 50 metres from Plymouth University, fully let for 2023/24 and 2024/25 academic year.
Investment let at £160,000 p.a. (It is anticipated for rent to increase in the 2024/25 academic year between £173,000 p.a. To £182,00 p.a.).
Description
Renovated in 2011 the property comprises of a 3 storey end of terrace Victorian building. Internally the building has been developed to provide 3 flats and 4 studio apartments.
Developed to a high specification in 2011 all the studio rooms benefit from a double bed with storage, en-suite bathroom, micro kitchen, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points, high speed fixed internet sockets and Wi-Fi together with TV points.
The three cluster flat rooms benefit from a double bed with storage, en-suite bathroom, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points. In addition to this there are communal lounge/kitchen areas.
Location
Road access to the city is provided by the A38 dual carriageway, which lies approximately 3 miles to the north of the city centre and connects with the M5 motorway at Exeter approximately 45 miles distant.
The property is situated in a prime student accommodation area to the north of the retail centre of Plymouth and 50 meters north of Plymouth University campus, 1⁄2 mile from the shopping district of Mutley Plain and 1⁄4 mile from the main city centre.
Plymouth’s railway station is an approx. 0.3 miles west of the of the property with the town’s main bus station 1⁄2 mile in south west of the building.
Transport
Plymouth Railway Station - National Rail services
Tenancy
Let on AST's agreements on a mixture of 43/50 weeks
Accommodation
There is a total of 27 letting rooms throughout the property.
The accommodation is broken down as follows:
- Flat 3 a 7 Bedroom cluster flat (rooms 13.6 sq m – 24 sq m)
- Flat 6 a 8 Bedroom cluster flat (rooms 12 sq m – 24 sq m)
- Flat 7 a 8 Bedroom cluster flat (rooms 11 sq m – 18 sq m)
- Studio Flats 4 x Studio flats (size 17 sq m – 23 sq m)
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions 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.
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