Studio for sale
Garstang Road, Preston PR1
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Property description
Investment Highlights
• 190 fully self-contained Studio apartments
• Special offer of 9% net yield for 5 years
• 4% interest on deposited funds
• No Stamp Duty
• Fully furnished
• On-site student Gastro Pub
• Unit sizes 21-27sqm
• August 2018 build completion, in time for the September intake of students
• 125 Year Lease
And much more!
Why Invest in Purpose-built student accommodation?
The four storey development comprises a total of 190 apartments. The demand characteristics exhibited by students has changed over recent years – many, especially those from overseas, no longer wish to live in converted houses. They now require bespoke, purpose-built accommodation which lies close to the educational hub.
With ever-increasing numbers of undergraduates, purpose-built student properties have become a mainstream global asset class which provides investors with a safe investment and minimal risk.
University cities such as Preston will be at the forefront of the increase in international student numbers thanks in part to the high world ranking of UCLan and to the attractions of the location itself. The recent injection of capital through the Preston and Lancashire City Deal will boost the local economy creating employment opportunities for postgraduates.
Purpose Built Student Accommodation, rather than converted premises, offers investors reliable earning potential. Even though the rental contracts are relatively short-lived, these properties are always in high demand and are currently still woefully under-supplied.
Property value data/graphs for PR1
Property type | Avg. current value | Avg. £ per sq ft. | Avg. # beds | Avg. £ paid (last 12m) |
---|---|---|---|---|
Detached | £256,318 | £200 | 3.6 | £241,974 |
Semi-detached | £162,196 | £182 | 3.0 | £159,303 |
Terraced | £98,586 | £129 | 2.8 | £89,349 |
Flats | £100,125 | £164 | 1.9 | £82,378 |
Current asking prices in PR1
Average: £121,260Property type | 1 bed | 2 beds | 3 beds | 4 beds | 5 beds |
---|---|---|---|---|---|
Houses |
£82,114 (7) |
£98,173 (171) |
£139,152 (206) |
£246,331 (42) |
£245,839 (14) |
Flats |
£75,532 (101) |
£102,624 (63) |
£147,488 (4) |
- | - |
All |
£75,958 (108) |
£99,371 (234) |
£139,311 (210) |
£246,331 (42) |
£245,839 (14) |
Current asking rents in PR1
Average: £904 pcmProperty type | 1 bed | 2 beds | 3 beds | 4 beds | 5 beds |
---|---|---|---|---|---|
Houses |
£393 pcm (36) |
£581 pcm (72) |
£718 pcm (84) |
£1,239 pcm (63) |
£1,745 pcm (35) |
Flats |
£475 pcm (197) |
£638 pcm (106) |
£1,052 pcm (30) |
£1,371 pcm (28) |
£1,938 pcm (28) |
All |
£462 pcm (233) |
£615 pcm (178) |
£806 pcm (114) |
£1,279 pcm (91) |
£1,831 pcm (63) |
Fun facts for PR1
Highest value streets | Zed-Index |
---|---|
Hill Road | £510,234 |
Hollinhurst Avenue | £470,996 |
Castle Walk | £434,308 |
Round Wood | £398,728 |
Penwortham Court | £344,699 |
Highest turnover streets | Turnover |
---|---|
Condor Way | 68.8% |
Linton Grove | 56.2% |
The Spinney | 54.5% |
Crownlee | 52.4% |
Hollinhurst Avenue | 50.0% |
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Nearby transport
- Preston (Lancs) (0.9 miles)
- Lostock Hall (3.3 miles)
- Bamber Bridge (3.5 miles)
- Blackpool International Airport (13.2 miles)
- Liverpool John Lennon Airport (30.8 miles)
- Manchester International Airport (33.8 miles)
- Knott End-On-Sea Ferry Landing (16.2 miles)
- Fleetwood for Knott End Ferry Landing (16.4 miles)
- Heysham Ferry Terminal (20.1 miles)
Nearby schools
View all schools in Preston- English Martyrs Catholic Primary School, Preston (0.2 miles)
- Eldon Primary School (0.3 miles)
- St Ignatius' Catholic Primary School (0.5 miles)
- Youth Challenge Pru (15.6 miles)
- The Young Mums Unit (17.7 miles)
- Thomas Whitham Sixth Form (19.2 miles)
- Moorbrook School (0.5 miles)
- Moor Park High School and Sixth Form (0.5 miles)
- Preston Muslim Girls High School (0.8 miles)
Local info for Preston
About the neighbours in PR1
AskMe Q&A for Preston
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Asked on Dec 16 2013, General in Preston
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Can any outsider of UK buy property in the UK?
Asked on Jan 20 2011, General in Preston
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Asked on Jun 18 2015, House Prices in Preston
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For more information about this property, please contact
Real Estate Worldwide, SS2 on +44 1702 787516 * (local rate)
Monthly running costs Beta
Mortgage
In association withThese results are not provided by NatWest and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Home Insurance
Rebuild value up to £1,000,000 Contents value up to £75,000 Average insurance cost £11/mo (£127/yr)Home Insurance is based on the average price of a building and contents quote for a property in this area in the last 48 months.
Source: Autonet Insurance Ltd
Energy
Gas £17 Electricity £25 Estimated energy cost £42/moSimilar properties could save up to £183
How Much Could I Save?The estimated energy cost for this property has been calculated using actual energy usage data for a property of this type, number of bedrooms and region.
Estimated consumption
Gas: 5700 kWh/year
Electricity: 1900 kWh/year
Source: National Energy Efficiency Data Framework
Council Tax
Local authority
Preston
Estimated tax band A Council tax cost £117 /mowhen paid over 10 months
The Council Tax cost displayed is based on the council tax band and on the basis of 2 adults living at the property. The monthly cost shown excludes any discounts and is rounded to the nearest pound.
Full information on Council Tax discount entitlements can be found on the Gov.UK’s website.
Water
Supply £13 Sewerage £15 Estimated water cost £28 /moWater consumption is based on average water usage for the predicted occupancy of the property based on the number of bedrooms.
Total annual consumption (in cubic meters) is then averaged into a monthly cost.
Note: If you have 2 separate suppliers for water and sewage, you may receive 2 separate bills.
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Real Estate Worldwide, and do not constitute property particulars. Please contact Real Estate Worldwide for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.