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Studio for sale

£74,950

Greenbank Avenue, Lipson, Plymouth PL4

1 1
Interested in this property? Call +44 1752 358117 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Purpose built student accommodation
  • 8% Net Yield
  • 3 Year Rent Guarantee
  • Fully Furnished and Managed
  • Plymouth University is just a short walk away

Property description


Summary
North Hill Court is a brand new, purpose built development of 39 studio and 1 bed student apartments. This fully managed student accommodation has a much sought after central location in the beautiful city of Plymouth. 8% net yield!

Description
North Hill Court is a brand new, purpose built development of 39 studio and 1 bed student apartments. This fully managed student accommodation has a much sought after central location in the beautiful city of Plymouth.

The highly acclaimed Plymouth University is just a short walk away, as is the Plymouth College of Art; and in a thriving student city where there is a shortage of student properties, these apartments provide much needed modern, student accommodation, as well as a desirable investment opportunity


Contact us today to check availability


Location
Located on the south coast of Devon, Plymouth is a city of stunning natural beauty, and is a thriving industrial and academic centre. From the cobbled streets to the breath-taking harbour and the stunning architecture of the
beautiful historic churches, you can see that Plymouth is bursting with culture and a proud heritage. But it is also a vibrant city, where tourists and residents can choose to enjoy the hustle and bustle of city life, or indeed the more tranquil lifestyle provided by coastal rural living. Plymouth really is a city that offers a bit of everything. As a thriving port city, Plymouth has almost 300 marine and maritime businesses, the largest cluster of its type in the South West. Plymouth's position as a city of significant naval and maritime importance is undeniable, and as a result the city came under significant attack in World War II, with it having to be rebuilt post war.

The Development
The new build development at North Hill Court is the perfect location for student accommodation, with Plymouth University and the Plymouth College of Art just a 5 minute walk away, whilst Marjon University is a 5 mile journey by car or public transport. Furthermore, the train station, providing national rail links, is also just a short walk away, as is the Drake Circus shopping centre, Addison Park, the Nancy Astor Sports Centre, and a large supermarket. It really doesn't get more central than this! With everything you could possibly need right on your doorstep, North Hill Court is a highly desirable place to live. The three storey development consists of 39 fully furnished apartments, managed by an experienced property management company. All of the apartments are completed to a high specification, and finished with contemporary fixtures and fittings. There is Wi-Fi throughout the building, which supports students in their study and downtime, as well as communal lounge areas and communal gardens for students to relax and socialise. Security measures have been considered as part of the design of this development and as such there is secure fob access, and CCTV in operation 24 hours a day.

How It Works
Both the studio apartments and 1 bed apartments are due to be completed by Q1 2019. These apartments are being sold on a leasehold basis of 250 years, with the financials on each style of apartment demonstrating an 8% net rental yield, which will be guaranteed for 3 years.

• Select your desired studio apartment
• Complete the reservation form and pay £5,000
deposit
• Solicitor instructed, legal documents and sales
pack sent out
• Exchange contracts within 28 days
• 50% of balance to be paid on exchange of
contracts
• 25% of balance to be paid June 2018
• 25% of balance to be paid on build completion
• Management Fee = £1,200
• Ground Rent =£350
• Net Yield = 8%

Faq
Where is the property located?
47a North Road East, Plymouth, PL4 8PS

How many apartments are in the development?
The property will consist of 39 purpose built student
apartments

When will the building be completed?
The property will be completed for Q1 2019

What is the rental assurance?
Each property in the development will provide apartment owners with an 8% assured net rental
income for the first 3 years following completion

How does the assured yield work?
The Assured Rent of 8% net per annum is payable throughout the rental assurance period by the developer. Payments will be paid to owners throughout the 3 year assurance period, directly into
any bank account in the world as stipulated by the purchaser. The amount of assured rent is specified in the agreement for sale and management agreement.

How do I reserve an apartment?
Once you have selected an apartment with the help of your consultant, your selection will be confirmed through completion of the reservation form and payment of a £5,000 reservation fee.

What happens to the reservation fee?
The reservation fee is paid and forwarded to the developer as part of the purchase price; your solicitor will ensure that this is deducted from the total purchase price during the legal process.

How much is the ground rent?
The ground rent is £350 per annum for each of the apartments

How long is the lease of each apartment?
The lease is 250 years from completion

The Developer
Harrison Homes is a visionary property development company, specialising in luxury builds crafted to your every design want and need. A sharp combination of years of experience, detail oriented approach and fully in-house expertise means every home we design emerges a uniquely exceptional, beautifully made creation. Our outstanding teams' years of success are based on redeveloping existing properties to a sleek blend of modernity and grandeur, or starting from scratch with new builds that are constructed exactly according to the specification agreed. We have created properties in sought-after locations such as the Cheshire area, Alderley Edge, restbury, Wilmslow and Handforth. We also refurbish listed buildings, creating truly stunning homes that will last lifetimes.

Lease details are currently being compiled. For further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.

Property info

Floorplan(s): Floorplan 1

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Market activity
Average price paid £159,240 Sales 442 Current average value £169,188 (Zoopla Zed-Index) Value change £5,067 ▲ 3.09%

Property value data/graphs for PL4

Property type Avg. current value Avg. £ per sq ft. Avg. # beds Avg. £ paid (last 12m)
Detached £243,565 £208 3.5 £150,000
Semi-detached £193,456 £165 3.4 £173,225
Terraced £185,706 £160 3.5 £171,132
Flats £133,906 £222 1.8 £131,004

Current asking prices in PL4

Average: £158,127
Avg. current asking prices in PL4
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £145,000
(1)
£151,685
(10)
£181,487
(42)
£234,762
(21)
£257,000
(16)
Flats £84,941
(88)
£141,137
(70)
£157,500
(2)
£178,317
(3)
£147,500
(2)
All £85,616
(89)
£142,456
(80)
£180,397
(44)
£227,706
(24)
£244,833
(18)

Current asking rents in PL4

Average: £838 pcm
Avg. current asking prices in PL4
Property type 1 bed 2 beds 3 beds 4 beds 5 beds
Houses £370 pcm
(48)
£644 pcm
(8)
£786 pcm
(23)
£996 pcm
(26)
£1,306 pcm
(20)
Flats £451 pcm
(169)
£715 pcm
(77)
£700 pcm
(14)
£923 pcm
(2)
£358 pcm
(2)
All £433 pcm
(217)
£709 pcm
(85)
£754 pcm
(37)
£991 pcm
(28)
£1,220 pcm
(22)

Fun facts for PL4

Highest value in PL4
Highest value streets Zed-Index
Harbour Avenue £369,545
North Quay £364,026
Addison Road £328,135
Queens Road £321,866
Parsonage Way £301,629
Highest turnover in PL4
Highest turnover streets Turnover
St. Lawrence Mews 58.3%
Pearson Avenue 57.1%
Thornton Avenue 47.1%
Rutland Road 45.5%
Glen Park Avenue 41.5%

What Zoopla users think of Lipson

Overall rating:

  • currently 4 stars
Very good - 84%

Ratings breakdown:

  • currently 5 stars
Community & safety
  • currently 3.5 stars
Entertainment & nightlife
  • currently 4.5 stars
Parks & recreation
  • currently 3.5 stars
Restaurants & shopping
  • currently 4 stars
Schools & public services
  • currently 4.5 stars
Transport & travel

Rate Lipson:

Tell us what you think of this area by rating these categories.
Please note your vote will only be counted once.

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

  • Plymouth (0.8 miles)
  • Devonport (2.0 miles)
  • Dockyard (Devonport) (2.2 miles)
  • Exeter International Airport (40.0 miles)
  • Cardiff Airport (78.6 miles)
  • Bristol Airport (93.0 miles)
  • Plymouth (Barbican) Landing Stage (0.7 miles)
  • Plymouth Mount Batten Ferry Landing (0.9 miles)
  • Plymouth Ferry Terminal (1.5 miles)

Nearby schools

View all schools in Plymouth
  • Salisbury Road Primary School (0.1 miles)
  • Holy Cross Catholic Primary School (0.3 miles)
  • Mount Street Primary School (0.4 miles)
  • EF Academy Torbay (27.1 miles)
  • Callywith College (27.2 miles)
  • Exeter Mathematics School (35.8 miles)
  • ACE Schools Plymouth (0.5 miles)
  • Plymouth High School for Girls (0.5 miles)
  • Lipson Co-operative Academy (0.6 miles)
Note: Distances are straight line measurements

Local info for Plymouth

About the neighbours in PL4

AskMe Q&A for Plymouth

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Arrange Viewing

For more information about this property, please contact
Fox & Sons - Mutley Plain, PL4 on +44 1752 358117 * (local rate)

Monthly running costs Beta

£478 Monthly total

Mortgage

Purchase price
Deposit (10%) 7,495
Repayment term 25
Interest rate 1.5
Your payment £269 /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 £15/mo (£176/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 £19 Electricity £27 Estimated energy cost £46/mo

Similar properties could save up to £152

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: 5000 kWh/year
Electricity: 1800 kWh/year

Source: National Energy Efficiency Data Framework

Council Tax

Local authority

Plymouth

Estimated tax band A Council tax cost £111 /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 £15 Sewerage £22 Estimated water cost £37 /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 Fox & Sons - Mutley Plain, and do not constitute property particulars. Please contact Fox & Sons - Mutley Plain 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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