9 student homes to snap up
As the UCAS deadline for university applications looms, anyone thinking of investing in bricks and mortar would do well to consider student lets. You can look forward to a steady stream of tenants, no voids and decent yields, though be prepared for extra wear and tear. ‘Demand for accommodation is high. There are record numbers of students in Higher Education and approximately 1.7 million that need to find a room near their campus, and just 625,000 bed spaces in halls of residence,’ explains Simon Thompson, co-founder of Accommodation For Students, a leading website for students looking for homes. ‘This demand is creating an upward pressure on rent and is sustainable as student numbers are forecast to rise but new purpose-built accommodation is not keeping pace with this growth.’ These properties for sale are close to universities and cater for a range of budgets.
1. Aberdeen, £47,500
If you’re after somewhere that’s ready for a tenant to move into immediately, how about this bright, airy and immaculate top floor studio flat? In a quiet road convenient for Aberdeen University, the city centre and the beach, it’s been completely refurbished with a new kitchen, bathroom and flooring, and has a lovely communal garden. Available through Yopa.
2. Manchester, £145,000
Manchester University – the UK’s largest on a single site – and Manchester Metropolitan are in walking distance of this well laid-out flat, at the top of a converted Victorian house. A staircase next to the front door on the second floor leads up to a split level landing, which opens into three bedrooms, a shower room and a living room with a separate kitchen. For sale via Bridgfords.
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3. Liverpool, £245,000
This large six-bedroom house is in a popular student area under a mile from the University of Liverpool, and includes two bathrooms and a yard at the back. The landlord holds an HMO (House in multiple occupation) licence – meaning that five or more people who are unrelated can live there and that it meets certain standards – however the next owner will have to apply for a new one as it can’t be transferred. On the market via Purplebricks.
4. Sheffield, offers over £280,000
Buy this contemporary five-bedroom townhouse and it will pay its way from day one, as it’s currently let as an HMO for £2,500 per calendar month including gas, electricity and water. Sheffield University’s campus is a 10-minute walk, and as far as future tenants are concerned, what sets it apart is that each of the bedrooms has an ensuite bathroom. It’s being sold by online auction through Yopa.
5. Leeds, £425,000
A far cry from the stereotypical student house, this six-bedroom, five-bathroom HMO is handy for the University of Leeds and has been refitted and decorated to a very high standard. All the bedrooms have new carpets and furniture and there’s a modern kitchen with integrated appliances, a large living room and a yard. Tenants are in situ until June, paying gross rent of £3,850 per calendar month including bills – an 8.3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} yield. Available from HOP.
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6. Winchester, guide price £635,000
Yes it needs work, but this substantial building is in a prime city centre position and has the potential to be transformed into student accommodation or self-contained flats to service the nearby university. It was previously arranged as 10-bedroom hostel, with a bathroom on each of the three floors and a reception area, office and small garden, and is being sold at auction on 6th February. If you’re interested contact Barnard Marcus.
7. Brighton, offers over £650,000
According to research by Stripe Property Group, demand for student rentals in Brighton is higher than in any other major student town or city. So you’re unlikely to have any problem finding tenants for this this five-bedroom Victorian house, which is short stroll from Brighton University and the beach and comes with a garden and an active HMO licence. For more information, get in touch with Fox & Sons.
Read more: 10 homes with renovation potential
8. London, from £675,000
Located in ever-fashionable Notting Hill, The Portobello Edition at The Auria is part of a wider regeneration scheme and comprises 48 one and two-bedroom apartments in a new mansion block. Portobello Road’s bars, restaurants, shops and famous market are on the doorstep, two tube stations are within a 10-minute walk and it’s due to complete at the end of 2024, making it perfect for a child who’s planning to study in London the following year. By Catalyst, part of Peabody, The Auria London.
9. Middlesborough, offers over £4.5 million
Drinkwater House is somewhat pricier than your average student digs, but you get 94 bed spaces for your money. Located in the town centre and under ten minutes’ walk from Teeside University, it consists of eight studios and 86 ensuite rooms spread across three blocks. An income of over £480,000 in rent is projected for this academic year, equating to a yield of 10.7{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} excluding costs. Find out more from Allsop.
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