Block of flats for sale in Leicester LE5, 7 Bedroom

Show apartment now ready for viewings! An exciting brand new city centre development conversion comprising A block of seven flats ready by the end of 2018 potential to generate approx net revenue £45K P/A. This brand new development is superbly situated within walking distance of Leicester & De Montfort Universities, the Mainline Train Station, City Centre and an array of local amenities can be found on the doorstep ideal for young renters. This Ground Floor accommodation is located on the corner of Humberstone Gate / Morledge Street and comprises seven self contained apartments - six studios and a one bed. Offering 7% Yield Potential ideal investment opportunity
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A Buy To Let Hotspot

Leicester has a shortage of high quality purpose built accommodation (pbsa), despite the fact that student numbers continue to rise and are travelling from the EU with revenue from international students worth approx. £58 million a year to the Leicester economy and offering the potential for good investment opportunities with high yields.

Walking Distances City Centre Location

7 Mins - Leicester Mainline Train Station(1 hour to London St Pancras)
10 Mins – De Montfort University
15 Mins – University of Leicester
1 Min – Art House Cinema
2 Mins – Curve Theatre
4 Mins – M & S
4 Mins - Highcross Shopping Centre

Rental Incomes

Studios - £150 pw £7,200 pa (over 48 weeks)
One Bed - £160 pw £7,680 pa (over 48 weeks)
Total £50,880 pa (7.8% return)

Costs

Rent:
For the 1st twenty-five years of Contractual term £700 P/A
For the 2nd twenty-five years of Contractual term £1,400 P/A
For the 3rd twenty-five years of Contractual term £2,800 P/A
Water - £300 /pa
Internet - £500 P/A
Electricity - Allowance & Landlord Supply £1,000 P/A
Service Charges - (Window Cleaning & Building Insurance ) £3,000 P/A
Total £5,500 pa
net income : £45,380 (6.98% Return)

Architects

Nicholas Williams Chartered Architect

Lease Details

Lease Length 150 years from 14/8/2015 to 1/1/2165
147 Years Remaining

Building Control / Regulations

Jhai Limited

Leicester Overview

In 2016 Leicester was named the 9th best city in the UK in the Good Growth for cities index. Leicester is well connected by rail, road and air with Birmingham & London under an hour away. With this and multi-million regeneration taking place, making Leicester one of the most desirable places to invest.

Free Valuation

Thinking of selling? We would be delighted to provide you with a free market appraisal/valuation of your own property. Please contact Barkers to arrange a mutually convenient appointment on Tel:

General Remarks

We are unable to confirm whether certain items in the property are in fully working order (i.E. Gas, electric, plumbing etc.) The property is offered for sale on this basis. Prospective purchasers are advised to inspect the property and commission expert reports where appropriate. Barkers Estate Agents have a policy of seeking to obtain any copy guarantees / invoices relating to works that may have been carried out by a previous or existing owner. Please ask one of our staff members to check files for any relevant documentation that have come to our attention.
Photographs are reproduced for general information and it must not be inferred that any items shown are included in the sale with the property.

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