Leicester | Investment Property for Sale | VES-LE1-005

Opportunity to purchase a 47 unit block in Leicester with the potential to generate £241,150 gross rent pa

£3,710,000

50-unit block

VES-LE1-005

INITIAL INVESTMENT

£1,087,300

Based on

deposit: £927,500

stamp duty: £111,300

mortgage fees: £1,500

conveyancing fees: £47,000

GROSS RENT

£241,150

GROSS YIELD

6.5%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

47

TENANCY STATUS

Vacant

FURNISHED

No

TOTAL SQ FT

TBC

PRICE SQ FT

£0

Please note that this is an off-market opportunity that is available to qualified buyers only.

Please get in touch and quote the reference number above to speak to a member of our sales team who can advise on the information that will be required from you in order for us to be able to share more detailed and confidential information related to the opportunity.

Opportunity summary:

  • The block is ideally situated in Leicester city centre within walking distance to both De Montfort University & the University of Leicester
  • The development is one of two blocks that has been bought out of receivership with both sites cleared by the previous vendor ready for immediate construction with a build time of 1 Year (14 Months from engagement)
  • All apartments with balcony or terrace
  • The estimated net income potential is £241,150 (based on 6.5% Net) and assuming no void periods
  • 40% of the student population in Leicester have access to purpose-built student accommodation (PBSA) beds, which highlights the strong demand for this type of accommodation

Opportunity to acquire a permitted development scheme for an off market student accommodation block in Leicester City Centre comprising of 47 x Studio Beds with Freehold Title, ready for immediate construction with a build time of approximately 12 months and be ready in time for the 2021/22 academic year.

The block comprises 47 luxury studios, with freehold, spread over a brand new 8 story building. The studio apartments will be finished with high-end specification with integrated appliances.

The scheme is attractively located in the town centre of Leicester City, within 15 minutes’ walk of both De Montfort University and the University of Leicester, two minutes from the train station, and easy reach of many local amenities and retail shopping outlets. A great student city with 50,000 full-time student studying at these two universities. Leicester also has a rich heritage in sport, culture and industry with events, facilities and attractions to suit every lifestyle. Leicester has two institutions of further education University of Leicester and De Montfort University.

The city centre is rich in historical and cultural attractions such as the New Walk Museum and Art Gallery, King Richard III Visitor Centre and several theatres. Leicester is also home to several sporting clubs, including Leicester City who famously won the Premier League season of 15/16. Due to recent regeneration in areas like the Highcross, there are 100s of job opportunities within Leicester’s vibrant city centre. It is also home to head offices of large employers such as Next, Hastings Direct, Tesco and East Midlands Airport.

Vendor is seeking offers in the region of £3,710,000.

The estimated net rental income is £241,150 per annum.

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Leicester, East Midlands

Leicester is a city in the East Midlands and of the county Leicestershire. It is located 11.6 miles south of Loughborough and 24.8 miles of Coventry.

Leicester’s rail network is of significant importance to the city and so provides several services to London and other regions within the midlands region. This station runs routes from north-south through Leicester on the Midlands main Line, south to Kettering, Bedford, Luton and London; and north to Derby, Nottingham, Lincoln, Sheffield and Leeds. The station also offers the east-west cross-country route which goes west to Birmingham and east to Peterborough, Cambridge and Stanstead airport. There are 4 trains per hour servicing to London St. Pancras half of which are fast services and get to the capital in just over an hour.

This buzzing city has many exciting things has to offer, a vast amount of retail options as well as two large shopping centres that are in Highcross and Haymarket Shopping Centres. There is also a plethora of restaurants and bars offering a variety of dining experiences. The city centre is rich in historical and cultural attractions such as the New Walk Museum and Art Gallery, King Richard III Visitor Centre and several theatres. Leicester is also home to several sporting clubs, including Leicester City who famously won the Premier League season of 15/16.

Due to recent regeneration in the area like the Highcross Leicester there are 100s of job opportunities within Leicester’s vibrant city centre. It is also home to head offices of large employers such as Next, Hastings Direct, Tesco and East Midlands Airport.

Leicester has two institutions of further education with 50,000 full-time students studying at the University of Leicester and De Montfort University.

Point of reference - not exact location,

Leicester,

Leicester,

England,

LE1 5GD

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