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Canterbury Hall, Preston, Resale, £85,378 7.4% for next 3 years

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RESALE PROPERTY

Canterbury Hall, Preston has enjoyed nearly two years of being operational & tenanted.

An opportunity for investors has presented itself with apartment 205, a 23m2 studio, coming back on the market at this successful PBSA scheme.

Enquiries and bookings have been steady and despite the general uncertainty surrounding university openings and on-line/blended learning, the bookings at the scheme to date are actually up compared to the same time last year.

No offer incentives such as lowering rents or referrals to attract students have been warranted and as of the 7th July 2020 the occupancy for 2020/21 academic year stood at 87% booked and well on course for full occupancy.

Canterbury Hall is purpose-built student accommodation at its best, offering assured income until Q3 2023, this is an excellent secure investment opportunity. With a fantastic location right next to the UCLan campus, this development is the perfect solution for students looking for independent living in a student environment.

The Guild City of Preston lies in the heart of Lancashire and has a population of approximately 140,000.

It traces its history back nearly 1,000 years and is a modern multicultural city built on the solid foundations of the industrial revolution.

Preston boasts two large modern indoor shopping malls in the form of St. Georges and Fishergate, and two large retail parks. Preston has recently won Avenham Park’s Green Flag award, which recognises and rewards the best parks and green spaces across the country.

The Guild Wheel, a scenic 21- mile cycling greenway, connects the city to the picturesque Lancashire countryside, while the Lake District is also close by.

UCLan is one of only 5 universities in the UK to hold both ISO14001 certification for meeting certain environmental responsibilities and the Carbon Trust Standard.

  • Studio Apartment 205
  • Price £85,378
  • 23 square metres
  • 7.4% p.a. assured NET return
  • 3 years assured rental agreement in place – until Q3 2023
  • Yearly rent: £6,318
  • Operational and fully tenanted
  • Fully managed and let on your behalf
  • Rental return paid automatically every quarter
  • Ground Rent not incl. £275 deducted once a year
  • All furniture and appliances included in price
  • Range of sought-after amenities and facilities, including a roof top garden.

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