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Full Description:
Boutique Student Residence was developed as a unique concept of student accommodation that is more targeted at the end user category of international, post-grad and mature students. Historically student accommodation has been provided by three or four bedroom terraced/semi detached houses (normal family dwellings) or by the big commercial operations in large 200 to 300 bed purpose built student blocks.
We have identified a small niche in the market of refurbishing existing period/historic buildings both residential or commercial offices into 50 to 70 bedroom schemes of student residences with a higher level of fit out and amenities. We are creating a unique student experience. Our High standard en-suite study bedrooms will provide facilities to match the expectations of today's post graduate student.
PLANNING
Lyttleton House is an existing purpose-built student residence which does not require planning approval for change of use.
REFURBISHMENT
A fourteen week scheme of refurbishment has been put in place which will bring the building up to the modern standards demanded by today's students.
Refurbishment work is scheduled to commence end of June 2011 in readiness for January 2012 and the start of the 2nd semester for 2011-2012 academic year.
LOCATION
Lyttleton House is located conveniently close to Adderley Park mainline rail station which serves Birmingham city centre, only one stop from New Street station. Local bus services run to most Birmingham colleges. The campuses of Birmingham City University and Aston University are located within a radius of 1-3 miles from Lyttleton House.
Photo Gallery:
 
Features:
- 1 Bedroom En suite study apartment in small clusters
- 4ft bed (three quarter double size) with storage, wardrobe and work station
- State of the art shared Kitchen Diner in each cluster
- Lounge areas with LCD Satellite TV in each cluster
- Large laundry facilities with commercial washing machines & tumble dryers
- High speed internet connections in all rooms
- CCTV and security phone entry system
Finance Details:
Indiviual unit price £42,000
Individual 99 year leases
Year one - 8% guaranteed NET return
Projected NET rental income year 2 onwards 8% to 10 %
Building fully managed by independent management company with fixed management fees
£5,000 Reservation Fee
£16,000 on exchange (two weeks after reservation)
£21,000 on completion (on or before January 2012)
Tenants will sign 12 month rental agreement with management company
Quarterly income paid in arrears
Turn-key hassle free investment opportunity
*Estimated - This cost could increase or decrease
Costings Example:
Purchase Price: £42,000.00
Gross Annual Income: £4,560.00
Maintenance and Expenses: *£897.00
Management Fee: £273.00
Net Income: £3,390.00
NET Yield: 8.07%
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