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• 1 bedroom flat for sale in Manchester

1 bedroom flat for sale in Manchester EU148AS

New Student Scheme is a new build development less than a mile from Salford University. The development will contain 354 student rooms each with ensuite with communal facilities shared between groups of rooms. Situated only 2.5 miles from the huge MediaCity UK Project, this development offers excellent investment opportunity with regards to the student market and will investors will be able to capitalise on the excellent location and proximity to the university.

The building will be made up of two 6 storey wings arranged around an eight storey tower at the corner of Ford Lane and Greenwood Street, adjacent to the nave of St Thomas's Church which is a local landmark built in the 1830's.

Investment Highlights

• Student rooms at £30,000
• Rental yields at 9%
• 30% Below Market Value

Development summary

• 2 x six storey wings arranged around an eight storey tower
• CCTV linked to apartments and internet access
• Key fob entry system
• Secure on-site parking available

Low cost, high yielding investment producing a positive cash flow income stream at a net yield of 11% plus.

·Lack of purpose built student accommodation near campus necessitates this development.

·Excellent cash flow investment for a hands off investor at superb yields.

·Ready for April 2013 - this is a new off-plan project approved by Salford University.

·Lower price and quality accommodation demand is driven by market forces.

·Unique and rare asset class that is now available to UK based investors.

Summary
·Current Status - In pre-build phase. Construction to begin in November 2011. Ready to let from September 2013
·Availability - 354 student rooms
·Type - All rooms en-suite, measuring 13.7m2; 5 pods grouped together termed 'cluster' apartments.
·Disabled facilities - Ground floor rooms provide disabled access
·Parking - 60+ parking spaces
·Other - Building is six floors including the ground. 4th, 5th and 6th floor already sold out.
·Prices - £30,000 for one unit
·Offers - Discounts for multiple purchases.
·Target market - Investors who want a hands off project. Excellent cash flow with yields at circa 10%
·What this is not - An opportunity for a quick flip. Investors should be looking to utilise this asset class to provide a medium to long term rental income with minimal effort.