Property description

INVESTMENT OPPORTUNITY, FULLY LET UNTIL JUNE 2016, POTENTIAL TO INCREASE RENT TO A 11.5% YIELD, GOOD STUDENT PROPERTY LOCATION
The property is currently let privately until June 2016, achieving a rent of £7368.00 p.a. The property has the scope to be easily converted to a four bed student property for the academic year 2016/17 and in our opinion, should bring in a rent of in excess of £15,000 p.a. Achieving this increase in rent would bring an investor an approximate yield of 11.5%. Our lettings team can work with an investor to ensure they can achieve rent in this region.
Any capital expenditure to convert this property into a student property would solely by for cosmetic items and furniture; no building works are required to get the full use of the property as an investment asset.
The location of the property ensures that student tenants are only around a twenty minute walk from Elvet Riverside lecture rooms, whilst only a short walk from the amenities in Gilesgate, including Sainsburys Local which is approximately a five minute walk from the property.
The property currently comprises on the ground floor, a large living room, kitchen and a dining room (which would become a fourth bedroom if converted). On the first floor, there are three bedrooms and a bathroom. Externally there is a large rear garden.
Viewings can be arranged via Elvet Estates by calling 0191 375 7000 or by emailing elvet@elvetestates.co.uk .

Property Features :

• Currently Fully Let
• Potential Student Let
• Great Location
• Close to Amenities
• Large Rear Garden