Studio for sale

£79,900

Garstang Road, Preston PR1

1 1
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Property description

A stunning new build development in the lucrative market of student property. With a fantastic location right next to the UCLan campus in the city of Preston, Canterbury Hall is the perfect solution for students looking for independent living in a student environment.

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.
Market activity
Average price paid £134,759 Sales 677 Current average value £136,635 (Zoopla Zed-Index) Value change £9,335 ▲ 7.33%

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: £121,260
Avg. current asking prices in PR1
Property 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 pcm
Avg. current asking prices in PR1
Property 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 in 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 in PR1
Highest turnover streets Turnover
Condor Way 68.8%
Linton Grove 56.2%
The Spinney 54.5%
Crownlee 52.4%
Hollinhurst Avenue 50.0%

What Zoopla users think of Fulwood

Overall rating:

  • currently 4.5 stars
Very good - 91% (132 ratings)

Ratings breakdown:

  • currently 4.5 stars
Community & safety
  • currently 4.5 stars
Entertainment & nightlife
  • currently 4.5 stars
Parks & recreation
  • currently 4.5 stars
Restaurants & shopping
  • currently 4.5 stars
Schools & public services
  • currently 4.5 stars
Transport & travel

Rate Fulwood:

Tell us what you think of this area by rating these categories.
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Community & safety
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Entertainment & nightlife
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Restaurants & shopping
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Schools & public services
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Transport & travel
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5

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)
Note: Distances are straight line measurements

Local info for Preston

About the neighbours in PR1

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For more information about this property, please contact
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Monthly running costs Beta

£485 Monthly total

Mortgage

Purchase price
Deposit (10%) 7,990
Repayment term 25
Interest rate 1.5
Your payment £287 /mo How Much Could I Borrow

These 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)
Compare insurance deals now In partnership with uSwitch
Home insurance costs explained

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/mo

Similar properties could save up to £183

How Much Could I Save? In partnership with uSwitch
Energy costs explained

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 /mo
when paid over 10 months
Council tax costs explained

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 /mo
Water costs explained

Water 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.

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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.

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