10% NET YIELDS AND GUARANTEED TENANTS IN PLACE
- 10% Net yields
- Recession-proof investment in student accommodation in Sheffield
- Knight Knox exclusive development
- 51 week tenancies
- 4th largest UK city
- 10% net rental guarantee
- Major University City
- Turn-key hassle free investment opportunity
- Over 70,000 students in Sheffield
- Fully managed by a company with a proven track record
- Most Popular UK Student Destination
About the development
The Hub, Sheffield will be a prestigious purpose built student hall development comprised of 71 en-suite student accommodations, in clusters with communal kitchens and lounges located on each floor, computer/media service centre, management office, and laundry facilities, all purpose-built and decorated to a high-quality standard. The units shall be decorated and furnished with carpet, blinds and light fixtures, a bed, wardrobe, workstation, internet connection and television to each room.
At a national level, student accommodation is being reported as 'the UK's best sector' in property and the recently issued report by Knight Frank not only quotes total returns last year for this sector as reaching 14.65% but states
”The student accommodation sector is now recognised as forming a critical component of a balanced investment portfolio.”
Purposes built ensuite student accommodation in clusters, close to the city centre are in great demand from today’s students
Between Cross Bedford Street and Penistone Road, in an area called Norton in Sheffield. S6 3BQ
- Sheffield University is 10 minutes walk (0.8 mile)
- Sheffield Hallam is 20 minutes walk (1.1 miles)
- City Centre 5 minutes walk (0.5 mile)
- Meadow Hall Shopping Centre 5 minutes by tram (4 mile)
- Leicester Bus Station 2 minutes walk (0.25 mile)
- Sheffield Train Station 5 minutes by tram (2.4 mile)
The proposed Management Company is CRM, a leading corporate property manager, and is the UK's leading independent student accommodation manager. CRM have been managing a range of residential accommodation for over 15 years, and now operate numerous quality sites located throughout the UK.
Knight Knox offer a guaranteed 10% net initial yield return to investors in year one who purchase a pre release unit, fully furnished.
Typically from year 2 onwards investors can expect between 9-10% net rental return after management fees and potential rental voids.
Based on rental increasing at a rate of 7% per annum and an initial rent of £106 pw for 51 weeks of the year, projected returns are as follows.
Full planning permission has been granted, tenders are out for the build and construction is due to commence in October 2011 with completion estimated to be September 2012.
During the pre release period all reservation fees of £1800 to secure the units are fully refundable if for any reason the project does not proceed.
- 1 Bedroom En suite study apartment in small clusters
- Bed (three quarter) with storage, wardrobe and work station
- High speed internet connections in all rooms
- CCTV and security entry system
- State of the art shared Kitchen Diner in each cluster
Pre launch: reservations fee of £1800
Within 6 weeks: full reservation £5000
Exchange of contract within 28 days of full reservation: £20,000
Closing costs / Legal fees will be approximately £600 + VAT
Completion date for this development will be September 2012
The first years rent will be payable quarterly in arrears
Further essential details
Maintenance fees will be around £800 per annum
Ground rent will be £120 per annum
Leasehold 125 years
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