As a commercial investment, this type of property should not attract the buy-to-let surcharge of 3% for British buyers, introduced by George Osborne, to start in April 2016*. It is a high-yielding, fully-managed investment.
This building is perfectly located between Chester University and the city centre creating a sought after living space for students. With an 8% assured income for the first 5 years, it represents a very attractive long-term investment opportunity. What's more, there is an option for a return of 6% to be paid from day one on your deposit until the completion.
The University of Chester is ranked 67 in The Times and 'The Sunday Times Good University Guide' Rankings for 2015 and is part of The Cathedrals Group.
The University’s main campus is situated 0.70 of a mile to the north of Chester city centre on the A540 Parkgate Road.
Within Chester there are approximately 10,000 full time higher education students. Of these c.1,500 are full time post graduates. There are c.700 European Union and Overseas postgraduate students at the University.
The University expects the number of students to increase by approximately 25 per cent in the years up to 2017, including a significant uplift in the number of overseas students, with more than 150 students expected over the three year period from 2014-2016. This will raise the number of overseas students to approximately 800.
Studio accommodation is popular and the first choice for post graduate, EU and overseas students. The University of Chester is unable to offer guaranteed accommodation to first year postgraduate overseas and EU students.
Of the existing purpose built student accommodation within Chester there are only 252 studio rooms in purpose built studio accommodation. There is insufficient demand to meet supply, leaving a potential shortfall in the order of 1,300 full time post graduates who cannot be housed within purpose built studio accommodation.
There is a severe lack of dedicated studio student accommodation schemes in Chester.
What's more, in a recent Autumn Statement the Chancellor, George Osborne, announced that students under the age of 30 will be able to access a student loan of up to £10,000 for postgraduate studies. The addition of funding for postgraduate students is likely to increase those undertaking a second degree. The first students who will be able to access a postgraduate loan will be in the 2016/17 academic year.
Across the UK there is growing evidence of increased demand from returning 2nd and 3rd year students, given that living in purpose built accommodation is likely to give them the best chance of success. Students are no longer prepared to accept poor quality accommodation.
Future Housing of Multiple Occupation (HMO) type accommodation may be restricted, to protect the city balance, thereby pushing up demand for this type of housing, so now is a good opportunity to invest.
This accommodation is well located for a purpose built student housing scheme, a stone’s throw from the city centre and Chester train station and within walking distance of the University Campus.
This is the perfect solution for students looking for independent living in a secure, purpose built environment. The development hosts 121 larger than average studio apartments which are fully managed and operated by an experienced company with similar sites around the country.
Rooms are high specification with built-in storage and a study area. There are kitchen facilities, en suite bathrooms and a fast broadband service.
The Entrance Lobby has a manned Reception area and Group Study Areas, a launderette, bicycle storage, a parcel delivery room and Wifi.
With construction well underway this development offers the perfect solution for a passive income stream or a reliable source of funds to balance other investments.
Purpose built accommodation offers a student significant benefits and facilities including a purpose built room, fast speed broadband connections, no need to register for utilities, single termly payment of an inclusive rent, guaranteed standard and quality of accommodation, shared study areas and a secure and safe environment.
Fully Managed by an experienced student accommodation operator, so a ‘hands-free’ investment, built by a Developer with a track record.
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* Please seek personal financial advice to check your personal circumstances