115000.00 $ Brand NEW HMO in Lancaster City Centre 17.13% return PA perfect for the student market Argusville

Published date: 22/10/2020
Modified date: 07/08/2021
  • Location: Argusville, North Dakota, United States

Design and Build Project – Lancaster – 4 Bedroom – 4 Bathroom – Kitchen and Communal area The property is in an incredible location in the centre of Lancaster:- • In the most sought after student area. • Ideally located for both Lancaster University and the University of Cumbria complex, virtually guaranteeing long term student tenants. • The property is in easy walking distance of the city with the student union and student bars and also the bus and train stations. • Only a 10 minute walk away from the large teaching hospital providing more professional demand. • All second year student accommodation is city centre based. • Regular shuttle buses go to and from the university campus as often as every 5 minutes, and through to the early hours of the morning. • Student body in excess of 17,000 and expanding . • All rooms will be rented at £110 pppw. • The property will be fully regulated and compliant with the local council and approved by the university. The city of Lancaster is very prestigious, the university has been number 1 in The Times list and has never been out of the UK top 10. There is also a large teaching hospital plus the University of Cumbria’s Lancaster Campus both of which are in the city centre. University places are extremely sought after nationally. All of our properties are city centre located, this reflects the fact that Lancaster is a campus-based university and is a 20 minute bus ride from the City Centre, it is basically in a remote location set within its own huge grounds. The University onsite accommodation only caters for 1st years and all the students thereafter move into city centre locations along the university shuttle bus routes, which run to and from the campus every 5 minutes right through into the early hours of the morning. The Student Union itself is actually based in the city centre along with all the bars, student restaurants and other student amenities. These factors mean that it does take a little bit more time to source exactly the right property in the right area at the right price. Extra care needs to be taken with the design because all finished projects have to be acceptable not only to building regulations but also to the universities accommodation department which gives stringent guidelines with regards to room sizes and fire safety facilities. *** FINANCIAL BREAKDOWN – 4 BEDROOM – 4 BATHROOM HMO *** Total overall cost including build, fees and furniture: £184,461.00 Total Cash outlay: £92,461.00 NET RETURN ON CASH INVESTMENT: 17.13% per annum Based on a refinance valuation of £170,000 we can release up to £144,500.00 (85% LTV) by remortgaging after 6 months. At this stage, you will have ONLY £39,961.00 LEFT IN THE DEAL and after deducting the new increased mortgage interest, your net income will be approximately £12,096.25 annum, giving you a NET RETURN ON CASH INVESTED OF OVER 30.27% PER ANNUM! Based on the full commercial value after 12-18 months, the property could value at £190,000.00 giving you a mortgage of £161,500.00. This leaves only £22,961.00 in the property and you still have a net rental income of £11,179.95 per annum. Based on this after only 1 year, your NET RETURN ON CASH INVESTED WILL BE 48.69% PER ANNUM!!


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