Basics
Description
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Description:
City Studios in Preston sits adjacent to Garstang Road and North Road. The village concept already incorporates a brand new 190-bed student accommodation scheme, City Studios will provide a mixed use offering and further retail accommodation to the rear of the site to accommodate a supermarket. The site also provides car parking.
Investment Highlights
- Investment Highlights: The studio apartments, which include en-suite facilities, are available from £87,000. There is an 8% NET income assured for 5 years as a pre-launch offer. Furthermore, a 4% interest is paid from the exchange through to completion, which is then rolled up and deducted from the final certificate. The annual net rental income available ranges from £5,551 to £7,401. There's no finder’s fee involved, saving you £4,200 on purchase costs. Additionally, there is no Stamp Duty on commercial property up to £150,000, which saves you approximately £2,500. The average size of a unit is 23 square meters or 247 square feet.
Location Highlights
- Location Highlights: The main campus of the University of Central Lancashire is located in Preston, and it is undergoing a major expansion, which includes an investment of £200-£250 million in infrastructure and high-tech engineering buildings over the next 10 years, with substantial investment from BAE. As a mid-tier university, it offers high-quality teaching across the North West. The university is easily accessible by the road and rail network to the North West, M6, and Lake District, as well as offering convenient access to Blackpool, Liverpool, and Manchester Airport for overseas travel. Additionally, there is a particularly high demand for beds that has outstripped supply, especially at this mid-tier level.
Property Highlights
- Property Highlights: Modern en-suite studio apartments are available, each featuring fully fitted kitchenettes. These apartments come fully furnished and are fully managed, providing a hands-off investment opportunity perfect for busy investors seeking hassle-free investing. This offers a great income-generating investment, ideal for pension and retirement income. The student sector has grown by 37% in 3 years, with the value of the sector increasing from £30.9 billion to £42.5 billion since 2014, thereby establishing student accommodation as one of the UK's largest emerging property sectors. There is also an increasing demand for student property at mid-level pricing.
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