Flat for sale in Sheffield S3, 4 Bedroom

Cherish Property are pleased to offer this superb investment opportunity of a fully furnished 4 bedroom/4 en-suite bathroom apartment with shared living space/kitchen set in student development, Aspect 3.

Currently achieving a gross rent of £17,260 per annum representing a 6.3% gross yield.

Management/Service Charge payable is 22% Gross rental (£3,797.20)

Letting Fee: £55 per bed (£220 per annum)

Ground Rent: £500.00 per annum

Landlord Repair Renewal Fund £411.81 per annum

Aspect 3, Edward Street, has had 100% Occupancy since it was built in 2008 and already 100% fully occupied for the current 2018 student year.

Management and Service charge - which includes all the management of the tenants and building, and a long term maintenance program for the building.

This is a purpose built Student Halls of Residence with Full Title Deed Ownership. Leasehold with a 125 year lease (since 1st January 2008). Fully Managed by Student Facility Management who have a proven track record in full management of large scale student accommodation schemes, with their current portfolio of 4000 beds boasting a 100% occupancy record. With student apartments it's very important the management team are experienced so that the ongoing management is successful, keeping beds filled, costs down and yields high. The location is just 950 m from Hallam University, 1300m to Sheffield University.

Students sign a 52 week tenancy agreement - which is all fully managed by the Student Facilities Team. This is a 100% hands off, hassle free investment. Summer or longer-term tenancy agreements available to 'top up' your yield. There is an Annual agm for investors to meet with the management company and address the year and the direction and focus of the building. Sfm recently awarded the Nominations Agreement for Aspect 3 with Sheffield University, which guarantees a % of first year students accommodation within Aspect 3, which means strong occupancy levels moving forward. Nomination Agreements are very rare and universities do not often allocate them to private student developments.

Contact Cherish Property to arrange a viewing appointment.