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Property ID : 4502

For Sale £23,000.00 - Investment Property, Student Property

Opportunity to purchase a completed and tenanted unit in the popular Montgomery Halls development in central Manchester. There are no new student developments being granted planning permission in Manchester (home to over 105,000 students), and as such student pods for sale in existing, operational developments such as Montgomery Halls are now at a premium. As such, these units offer substantial opportunity for capital appreciation as well as a consistently high yield starting in September 2015.

An existing and fully operational student development, the student pods for sale in Montgomery Halls offer our investors one of the best opportunities to invest in the rapidly expanding student accommodation investment market. Despite weekly rental fees being increased up to £80.00 per week for a standard room, Montgomery Halls still offers one of the lowest priced student accommodations in central Manchester, creating a consistent demand from tenants studying at one of the cities three major universities.

This development has undergone significant changes in recent years, and is now fully managed by one of the UKs leading property management companies, the Residential Management Group. With the RMG Group recently appointed by the managing committee of owners/landlords, Monty Halls presents a significant opportunity for investors seeking to invest in the rapidly expanding UK student property market.

Montgomery Halls – Investment Highlights
– The student population in Manchester is over 100,000
– Fully managed student development
– Completed and fully operational student development
– BMV student accommodation
– Prices include Water, Gas, Electricity and Wifi through the building
– On-site parking available – most developments have no car parking facilities
– Large spacious gardens including BBQ area
– 24hr on site management
– Spacious shared recreation area

Introduction to the Student Pods
Although Montgomery Halls consists of over 250 operational student units, the vast majority of these are comprised of the standard size student pods. These measure 10.00sqm, and come complete with a wash basin, 3/4 size bed, desk and wardrobes. All units are fully managed by RMG Lettings on behalf of the investors. Tenancies typically commence on the 12th September, and tenancy agreements are typically offered between 37 and 44 weeks for these units.

Investment Breakdown – Student Pods (10.00sqm)
£80.00 per week x 44 weeks = £3,520.00 per annum
– 6% lettings fees = £211.20
– Service charges = £1,627.00
Net Annual Income = £1,681.80
Net Annual Yield = 9.09%

Introduction to the Studio Apartments (15.00sqm)
Offering a separate configuration to the rest of the development, the ground floor on Montgomery Halls is comprised of 14 larger studio units. These units offer 50% more space (15.00sqm) than the standard student pods, and as such as consistently in high demand. Typically, occupancy rates for these types of units are much higher than the standard size pods, with students often choosing to retain their units during the summer period. All units come complete with a wash basin, 3/4 size bed, desk and wardrobes. Although these units are currently charged at the same price per week, there is now significant demand for an increase in these fees.

Investment Breakdown – Studio Apartment (15.00sqm)
£80.00 per week x 48 weeks = £3,840.00 per annum
– 6% lettings fees = £230.40
– Service charges = £1,627.00
Net Annual Income = £1,982.60
Net Annual Yield = 6.61%

Montgomery Halls – Features
Mature gardens and leafy surroundings
Extensive gardens
Free minibus service to the city centre
On site laundry facilities
On site gym facilities (additional charge of £10 per term for gym use.)
Bike store

Montgomery Halls – Purchase Price
Standard Pods – £18,500.00 (£850.00 plus VAT finders fee not included)
Studio Apartment – £25,000.00 (£850.00 plus VAT finders fee not included)

Monty Halls – Buying process
Stage 1. Complete reservation form and pay deposit of £6,020.00 (includes finders fee of £850.00 plus VAT)
Stage 2. Solicitor instructed, legal’s and sales pack sent out
Stage 3. Balance paid on exchange and completion of contracts, within 28 days

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