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£190,000 Guide price

Studio for sale

Primrose Street, Cambridge

£190,000 Guide price

Studio for sale

Primrose Street, Cambridge

Description

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Property features

  • Studio Apartment
  • High Specification Finish
  • Fantastically Located for both Anglia Ruskin and the Cambridge Colleges
  • Student Only Development
  • Strong Rental Returns
  • Communal Gardens
  • Communal Rooms for Tenants
  • No Council Tax Liability
  • EPC: B/B EI: B/B
  • Long Standing Tenant

Property description

INCREDIBLE INVESTMENT OPPORTUNITY in an EXCLUSIVE STUDENT DEVELOPMENT. Currently let with a STRONG RENTAL RETURN on a LONG TERM TENANCY. This fantastically located studio apartment is FINISHED TO A HIGH STANDARD and has been well maintained over the past two years since its release. Call Belvoir Cambridge on[use Contact Agent Button] to book your viewing now!

Primrose Lodge - Primrose Lodge is a prestigious development of student exclusive apartments available from private landlords and offers a total of 30 units.

The building benefits from a security entry phone controlled access system with CCTV and security lighting to ensure the ongoing high level of safety for the block. Tenants are also supplied with a secure internal bike storage room with bike racks for all apartments along with a secure communal bin store.

No parking is provided to tenants owing to the city councils stance on students with motor vehicles.

Studio Area - 24.69m square (81'0" square) - This studio is finished to a high standard with a kitchen area comprising of an integrated microwave oven, fridge freezer, washer dryer, 2 ring induction hob and storage units.

The bedroom area of the studio a comprises double bed and fitted wardrobes providing ample storage with a large mirror and TV connection points.

Shower Room - The studios shower room comprises a walk in shower unit, wash hand basin and low level WC, Heated towel rail. Also includes a wall mounted unit with mirror and shaver point.

Communal Areas - Primrose Lodge caters thoroughly for the communal needs of its tenants with a communal lounge room which is shared with all apartments and hosts a sofa, table and chairs creating an ideal socialization area

There is also a study room which is a separate quiet room where desks and chairs are provided with power points and broadband connection points so students can work together without the hustle and bustle that may be present in the communal lounge.

To the rear of the block is a communal garden area which provides an enclosed area to study or socialize with friends.

Also provided for tenants is a large indoor, secure bike storage room and bin store.

Leasehold Information - Lease Length: 250 years commencing from the 1st January 2016
Ground Rent: £250 per annum
Service Charge: £1032 per annum
Subject to occupation exclusively by student tenants.

Cambs Investor Info - STUDENT LET INVESTMENT
The property is currently to be sold with a tenant in situ. The property is currently achieving a rental income of £875PCM, meaning that based on a sale at £190,000, the startup capital required would be £56,250. Our current calculations project an annual pre-tax profit of £3768, representing an annual gross yield of 5.28% and a predicted 6.7% return on the capital employed. There is also potentially future scope for rental increases in line with the current rental market.

Please feel free to call our Cambridge office on[use Contact Agent Button] to discuss potential investment opportunities for this property.

**These calculations are based on a 75% loan with a 2.49% interest only mortgage**

Belvoir Cambridge Disclaimer - Belvoir Cambridge Disclaimer - Every care has been taken with the preparation of these Particulars but complete accuracy cannot be guaranteed. If there is any point, which is of particular importance to you, please obtain professional confirmation. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract.

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