Description:

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 fully furnished 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.Sheffield is a bustling city environment mixed with the friendliness of a small town. The fifth largest city in the UK is nestled right in the centre of the country, only fifty minutes from Manchester and two hours from London by train. There are also links to the local towns of Barnsley, Chesterfield, Doncaster and Huddersfield by bus, making it an ideal location for students from each corner of the UK. Yet Sheffield also caters for an impressive amount of foreign students. Out of a grand total of 63,000 the University of Sheffield and Sheffield Hallam educate over 11,000 international students, which according to the University of Sheffield are worth £120m per year to the local economy. As a city Sheffield has moved on from only being famous as the steel capital of the world. It is now known for its friendly atmosphere and low crime statistics, its strong economy and high employment rates. Having gone through an extensive redevelopment over the past decade and a half, its GVA increased by over 60% from 1997 to 2007 to £9.2billion and is still on the rise. Students are the key to Sheffield´s success making up over 11% of Sheffield´s population. Investment options for this development are:Studios: Priced at £59,995Premium Studios: Priced at £64,995Superior Studios: Priced at £67,495Deluxe Studios: Priced at £69,9951-bed apartments: Priced at £74,995All units are fully-furnished and completion is expected July 2015.Financial projection of premium studio * (Purchase Price £64,995)Est. Weekly Rent: Priced at £140Est. Annual Rent: Priced at £7,140Est. Maintenance fee: Priced at £1,285.20Est. Management fee: Priced at £428.40Est. NET income: Priced at £5,426.40Est. NET yield: 8.35%* All figures are based on forecasts provided by the developer, are indicative only and are subject to change. Any financial information provided in this document is intended as a guide and does not constitute a contract.Frequently asked questions:Am I buying as freehold or leasehold? 250 years leaseholdAre there tennants already in place? No, this is a refurbishment of a former office buildingWhat are the projected annual returns on this project? Returns of circa 8.35% are a assured for the first 2 yearsCan I recieve finance on this development? There is currently no finance offered by the developerWhen is my rental income paid? Quarterly in arrears, direct in to your bank account from completionIs there a management company in place? Yes, 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