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Boundary Lodge

For sale: POA|8438 Sq Ft|Residential, Other, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALEPOA
SIZE8438 Sq Ft
ADDRESSBoundary Lodge, Boundary Lane, Manchester, M15 6NU
TYPEResidential, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON3rd September 2020

DESCRIPTION

Key Points

  • Manchester is a first-class student destination with over 100,000 students across three major universities
  • 100% let for 2019/20 academic year generating £266,803 p.a.
  • Offering 35 student study bedroom arranged over 8 flats
  • Rental growth of 24.8% achieved since 2014/2015
  • Freehold site with possible additional development potential
  • Summary

    100% let purpose-built student development within short walking distance of the Manchester University Campus.

    Description

    Purpose built student accommodation comprising 8 apartments and a total of 35 en-suite rooms. Internally the the apartments are well specified with a breakdown as follows; - Fitted kitchen comprising; microwave oven, dishwasher, fridge/freezer, electric fan over & ceramic hob - Wall mounted televisions & sofa's in lounge area of each flat - Fitted bedroom furniture including; bed, desk, wardrobe & double bed - Timer controlled electric panel heaters - Carpeted bedrooms throughout and wood-style vinyl flooring in communal areas - Secure electronic fob entry system Virgin Fibre Optic Broadband is provided to the building with WIFI extension nodes delivering fast broadband speeds to all residents. Communal facilities provided at ground floor include; - Laundry facilities: 2x washers & 2x dryers externally managed - Communcal living area - Site office and WC - Storage room The site provides a total of 12 parking bays to the rear all of which are let and managed utilising a number plate recognition system.  The site occupies a 0.22 acre plot and there is an opportunity to extend the existing structure subject to planning. Interested parties are encouraged to consult a specialist planning advisor.   

    Location

    - Superb student location within a short walking distance of the University of Manchester Campus and Manchester Metropolitan University. - An abundance of local amenity surrounding the universities. - Manchester Science Park neighbours Boundary Lodge and is the UK’s leading provider of specialist environments and growth support to science and technology companies on their journey to business success. - Oxford Road Train Station is just 15/20 min walk and links with Manchester Piccadilly Train Station to the east.

    Income Breakdown

    Current income breakdown is as follows:  Flat | Description | Beds | Rent £ pppw | Rent p.a. | Tenancy Info 1 | 3 beds en-suite, and kitch/living room | 3 | £155 | £19,995 | Let until June 2020 2 | 4 beds en-suite, and kitch/living room | 4 | £155 | £26,660 | Let until June 2020 3 | 5 beds en-suite and kitch/living room | 5 | £155 | £33,325 | Let until June 2020 4 | 4 beds en-suite and kitch/living room | 4 | £155 | £26,660 | Let until June 2020 5 | 5 beds en-suite and kitch/living room | 5 | £155 | £33,325 | Let until June 2020 6 | 4 beds en-suite and kitch/living room | 4 | £155 | £26,660 | Let until June 2020 7 | 5 beds en-suite and kitch/living room | 5 | £155 | £33,325 | Let until June 2020 8 | 5 beds en-suite and kitch/living room | 5 | £155 | £33,325 | Let until June 2020 TOTAL |   |   |   | £233,275 |   Additional income as follows: Additional Income Comments £ pcm £ p.a. Solar paid quarterly £200 £2,400 Office paid monthly £100 £1,200 Parking (12 bays) paid monthly £1,080 £12,960 Summer Income*     £16,968 TOTAL     £33,528  *Based on summer 2019 income

    Operator / Management

    The property is currently managed by CMC Properties who operate from the ground floor office. CMC Properties are open to discuss the ongoing management position with incoming purchasers and contact details can be provided upon request. CMC Management have managed the leasing and operation of the asset since completion.

    Manchester Higher Education

    Manchester has three Universities located within the city, the University of Manchester, Manchester Metropolitan University and the University of Salford, as well as the Royal Northern College of Music and Drama. There are 82,945 full-time students studying within the different establishments. Manchester University is ranked 18th in the UK within The Times Good University Guide 2020. The university is currently investing £1 billion on the campus, the flagship Manchester Engineering Campus Development is an excellent example of this investment. The £400m building will house Manchester's four engineering schools and two research institutes. Other facilities in the pipeline include the £235m Sir Henry Royce Institute for Advanced Materials Research which is due to open this year.

    Tenure

    Freehold

    Additional Information

    We have a comprehensive datasite available, please contact George Oakey for access. 

    LOCATION

    Location: Boundary Lodge, Boundary Lane, Manchester, M15 6NU

    Manchester Oxford Road (0.7 miles)

    Deansgate (0.8 miles)

    Manchester Piccadilly (1.1 miles)

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