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Student digs for sale


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https://www.rightmove.co.uk/properties/87590812#/

 

£3,500,000



The current rental income at present is £290,400 per annum. Each bedroom is rented at £550pcm inclusive over an 11 month AST.

The property has recently been relet for the 2017/18 semester and the existing rents.

A few years old and you can imagine it'll all need renewing...

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55 minutes ago, sarahbell said:

https://www.rightmove.co.uk/properties/87590812#/

 

£3,500,000



The current rental income at present is £290,400 per annum. Each bedroom is rented at £550pcm inclusive over an 11 month AST.

The property has recently been relet for the 2017/18 semester and the existing rents.

A few years old and you can imagine it'll all need renewing...

The property consists of 48 en-suite bedrooms that form 6 mid-terrace units which have 8 en-suite bedrooms, a communal fitted kitchen and lounge/dining area. Outside is a secure bicycle store and the property also has external CCTV.

8.3 gross yield for running. Fuck that.

Even werder. Never seen one of these

https://find-and-update.company-information.service.gov.uk/company/07978528/filing-history

Ukgov appears to have claimed the property.

 

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6 minutes ago, gibbon said:

Is this meant to be a bad deal? Can someone explain why? If you happen to have £350k sitting around for a deposit, interest only mortgage would cost £9k a month but you'll be bringing in £24k a month? 

There are no students. Especially foreign ones.  And after the way home students have been treated this year, there will be none of them either. Ergo, no need for student accommodation. 

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2 minutes ago, gibbon said:

Bar foreign students aren't most students at uni and in halls?

Nope. The massive increase in numbers (especially foreign students) means that a student will only ge offered halls in their first year. And not all are lucky at that. Then, the vast number of foreign students (and it really is vast) with plenty of money, don’t want to slum it in skanky halls. 

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10 minutes ago, One percent said:

Nope. The massive increase in numbers (especially foreign students) means that a student will only ge offered halls in their first year. And not all are lucky at that. Then, the vast number of foreign students (and it really is vast) with plenty of money, don’t want to slum it in skanky halls. 

Thought it was foreign students who preferred halls/student specific accommodation vs shared houses.

7 minutes ago, sarahbell said:

Would 350k deposit get your mortgage on the rest?

Prob not, any idea what the deposit requirement is now for BTL mortgages? 30%+? 

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10 minutes ago, deathfunk said:

Why do these cunts pile into buy to let property thus causing misery for millions?

What else should they invest in for a decent return, you ask?

Good question, I say, they should instead buy £3.5 million of bitcoin and crypto.


Most people don’t trust anything else. A big reason housing is so expensive is that it’s often the major or only store of wealth accumulated over generations.

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1 hour ago, gibbon said:

Is this meant to be a bad deal? Can someone explain why? If you happen to have £350k sitting around for a deposit, interest only mortgage would cost £9k a month but you'll be bringing in £24k a month? 

Buying into a bubble within a bubble if going for a student property like this IMO. We all know housing is a bubble. We all know Higher Education is a bubble. OFC we've seen for last few more years more air going in but personally I don't think I'd want to be in both with my life savings. I also suspect being a landlord to 48 teenagers who want to get smashed 4 nights a week may mean property maintenance costs run a little higher, notwithstanding deposits. I'd rather spend £680k and get a pathetic yield from something like:

https://www.daltonsbusiness.com/land-commercial-for-sale/woodland-for-sale-porthmadog-gwynedd-wales/840065

Be happier in my cabin with some fisherman shoving me the odd tenner to top me up, much better quality of life...

Edited by SillyBilly
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