•Auction Date: 26th & 27th August 2020
•Residential investment property
•Currently vacant – requires refurbishment
•Potential rent of £4,680 pa after refurbishment
•Potential gross yield of 13.35% before costs
•Second floor unit
The unit is on the second floor, and forms part of a modern residential block, previously let to a mix of students and private individuals. Trinity C is situated within Laisteridge Student Village, and occupies a prominent position towards the front of the development, adjacent to Trinity B Hall.
The building is arranged over ground and three upper floors, providing a total of 84 units. Each floor has a total of 21 units, spread across three clusters of seven. There is a shared kitchen and bathroom facilities for each cluster of seven. Please see floor plan in legal pack outlining the unit currently for sale.
Bradford city centre is only 10 minutes’ walk away. For international students, Leeds / Bradford Airport is around 30-35 minutes travel time.
The unit is currently vacant and requires a basic refurbishment to maximise the rent that can be achieved. After some refurbishment work has been completed, we expect a rent of £90 pw (£4,680 pa) will be achievable.
The gross yield before purchase and basic refurbishment costs, based on a rent of £4,680 pa, reflects approximately 13.35% on the guide price.
Long leasehold - 125 years from 1 January 2019.
Ground Rent - initial annual ground rent of £150.
The initial advance service charge is confirmed in the lease as £450.00. Please see legal pack for further information.
2% (min. £3,600) inc. VAT