***Incentives available across our new build properties subject to development.***

 

Sovereign House is located in the centre of Sheffield less than half a mile from both The University of Sheffield and Sheffield Hallam. This ideal location caters to all students who want to live in the heart of the thriving city as it is minutes away from shops, restaurants and bars. Comprised of 178 studios, this conversion from an office block to high quality student accommodation is expected to be completed by July 2015, in plenty of time for the year’s influx of students. Each studio will be furnished to the highest of standards. Students will also have access to a range of communal facilities including a TV/cinema room, gymnasium, entertainment lounge, laundry, bike storage and communal lounge.

 

Investment options for this development are:

Studios: Priced at £59,995

Premium Studios: Priced at £64,995

Superior Studios: Priced at £67,495

Deluxe Studios: Priced at £69,995

1-bed apartments: Priced at £74,995

 

All units are fully-furnished and completion is expected July 2015.

 

Financial projection of premium studio * (Purchase Price £64,995)

Est. Weekly Rent: Priced at £140

Est. Annual Rent: Priced at £7,140

Est. Mainteance fee: Priced at £1,285.20

Est. Management fee: Priced at £428.40

Est. NET income: Priced at £5,426.40

Est. NET yield: 8.35%

 

What you need to know

Am I buying as freehold or leasehold?

250 years leasehold

 

What is the address of the site?

Sovereign House, 110 Queen Street, Sheffield, S1 2DW

 

Are there tennants already in place?

No, Sovereign House is a refurbishment of a former office building

 

What are the projected annual returns on this project?

Returns of circa 8.35% are a assured for the first 2 years

 

Can I recieve finance on this development?

There is currently no finance offered by the developer

 

When is my rental income paid?

Quarterly in arrears, direct in to your bank account from completion

 

Is there a management company in place?

Yes, the designated management company will be Fortis Student Lettings, who will block manage and let the building

 

Are there any restrictions if I want to sell?

No, you are free to sell your apartment on the open market

 

What to do next

• Speak to a Property Consultant from O'Neil Property Services and choose your unit(s)

• Complete the reservation form and pay the deposit

• Solicitor instructed, legal documents and sales pack sent out

• 50% of the balance is payable upon exchange of contracts

• Balance of 50% payable upon completion of your unit

 

 

For more information please call O'Neil Property Services