student housing
Ref 18255

Boundary Lodge

Boundary Lane
M15 6NU Manchester

To buyPlease contact us
Size8,438 ft² / 784 m²

Description

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

  • 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

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. 
 

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

Read more description

Energy rating

Energy rating D-D

Location and Transport

- 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.