Six Bedroom Student Pod Investment - TOTAL GROSS RENTAL INCOME £27,797.50 PA
Comprising a fully furnished six-bedroom student pod within a modern four storey purpose-built student accommodation, immediately adjacent to the campus of the University of Central Lancashire. Leighton Hall offers communal areas with a games room and a laundry room. With a reception and on-site security the development is gated and offers parking at a further cost. Units A-F briefly provide six ensuite bedrooms and communal kitchen / lounge situated on the third floor of a four-storey student building. We understand that the rents are all inclusive (excluding TV licence). We understand that the whole of the property is ‘fractionally owned’ which is a term used to describe an ownership where the costs of an asset is split equally between each owner, meaning that even though each tenant has signed an individual AST agreement the income is divided equally between each owner. Even when the rooms are vacant it means that each owner will receive a split of the rental income. The current occupancy rate across the whole of Leighton Hall is now 85%, which means each fractional owner will get an equal cut per room of this figure. Tenure: Leasehold Title number: LAN31838 Length of Lease/Term: 150 years from 1 January 2005 Ground Rent : £ Service Charge: £ Council Tax Band : C - Preston Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/ ANTI-MONEY LAUNDERING REGULATIONS In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
We have been provided with the following floor areas
-: Bedroom A - 12.72 m2 137 Sq.Ft. Bedroom B – 13.34 m2 144 Sq.Ft. Bedroom C – tbc Bedroom D - 12.84 m2 138 Sq.Ft. Bedroom E – 13.03 m2 140 Sq.Ft. Bedroom F - 12.97 m2 140 Sq.Ft. Communal Lounge/Dining Kitchen - 26.45 m2 285 Sq.Ft. Totals - 91.35 m2 984 Sq.Ft.
Tenancies We have been provided with the following AST agreements (please see copies contained in the legal pack)
B46 – A – 16/9/23 to 20/7/24 (44 weeks) at £104 per wk (£4,576 pa) B46 – B – 16/9/23 to 20/7/24 (44 weeks) at £99 per wk (£4,356 pa) B46 – C – 16/9/23 to 7/9/24 (51 weeks) at £85.50 per wk (£4,360.50 pa) B46 – D – 16/9/23 to 20/7/24 (51 weeks) at £95 per wk (£4,845 pa) B46 – E – 16/9/23 to 7/9/24 (51 weeks) at £104 per wk (£5,304 pa) B46 – F – 16/9/23 to 20/7/24 (44 weeks) at £99 per wk (£4,356 pa) TOTAL GROSS RENTAL INCOME = £27,797.50 PA
Preston City Council
Brechers LLP, Ref: Brechers LLP
Offered in association with
Lambert Smith Hampton
Important Notice to Prospective Buyers:
We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.
Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.