Auction Property Investment 

Laisteridge Lane, Bradford

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Features

  • Online Auction: 24 & 25 February 2021
  • Current gross yield of approx. 15.5%
  • Current rental income of £261,996.96
  • Rents of between £65-£80 pw
  • Mix of professional & students
  • 2019/20 Total running costs of £76,215.30
  • Pre-auction offers considered
  • 30-35 minutes to Leeds / Bradford airport
  • University of Bradford 1/2 mile away
  • Free secure on-site car parking

Address

Trinity B Laisteridge LaneBradfordYorkshireBD5 0NH
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Property Details

•For Sale By Online Auction: 24 & 25 February 2021
•Modern 80-unit residential investment block
•Current rental income of £261,996.96
•Current gross yield of approx. 15.5%
•Potential rental income of £311,919.84 once fully let
•Potential gross yield of approx. 18.35%
•Rents of between £65-£80 pw
•Let to a mix of student and professional tenants
•Annual outgoings of approx. £76,215

OVERVIEW

A modern residential investment block currently let for the current academic year to a mix of students and private individuals. Situated on Laisteridge Student Village occupying a prominent position at the front of the development. Bradford city centre is only 10 minutes’ walk away. For international students, Leeds / Bradford Airport is around 30-35 minutes travel time.

The accommodation comprises 80 units, including standard rooms with shared facilities, two with ensuite facilities and a one bedroom flat, arranged over ground and three upper floors.

Tenure

The property is to be sold freehold.

Outgoings

The rent is inclusive of; gas, electricity, super-fast Wi-Fi, maintenance, 24/7 security, dedicated on-site team and 24- hour launderette.

The running costs for the 2019/2020 period were in the region of £76,215.30.

Investment Analysis

The building is currently let for the academic year to a mix of student and professional tenants. The accommodation includes standard plus rooms, two en-suite rooms and 1 x one bedroom flat.

The standard rooms let to students typically achieve a price in the region of £65 per week and the rooms let to professional tenants typically achieve a price in the region of £80 per week.

The Current rental income is £261,996.96, reflecting a gross yield of approximately 15.5% based on the guide price. The Potential rental income is £311,919.84 once fully let, reflecting a potential gross yield of approximately 18.35% based on the guide price.

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2% (min. £3,600) inc. VAT

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