Auction Property  

Laisteridge Lane, Bradford

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Features

  • Fully let for the current academic year
  • Gross yield of approx. 13.75% on guide price
  • Average unit size 162 ft2
  • 30-35 minutes to Leeds / Bradford airport
  • Free secure on site car parking
  • Total gross rental income approx. £481,740pa
  • Units let by way of AST agreements
  • University of Bradford 1/2 mile away
  • 10 minute walk to city centre
  • Pre-auction offers considered

Address

Trinity A Laisteridge LaneBradfordYorkshireBD5 0NH
Details
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Property Details

• For Sale By Online Auction: 20th & 21st November 2019
• Modern 91 unit residential investment block
• Fully let to a mix of students and private individuals
• Current gross rental income £481,740 per annum, reflecting a yield of approx. 13.75%
• Pre-auction offers considered

OVERVIEW

A modern residential investment block fully 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 91 units, with en-suite facilities, arranged over lower ground, ground and three upper floors. Please see accommodation schedule for individual unit sizes.

Investment Analysis

The accommodation is fully let for the next academic year, with 56 units to let to private individuals and achieving £120 per week over a 52 week period. The remaining 35 units are achieving a rent of £90 per week over a 42 week period. The total gross income is approx. £481,740 pa reflecting a gross yield of approx. 13.75%.

Outgoings

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

The Maintenance Costs for 2019/2020 on this block are confirmed at £15,000 and management costs are £5,000.

Tenure

Title information will be confirmed in the legal pack.

Guide Price

£3,500,000+

Pre-Auction Offers

Pre-auction offers will be considered. If an offer is accepted, the property will be sold on an auction contract with a 20 working day completion.

Buyer's Premium

2% (min. £3,600) inc. VAT

Viewings

Viewings by appointment only. Please contact a member of John Pye Property on 0115 970 6060 or email property@johnpye.co.uk.

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