For Sale

Portsmouth, Southsea – Freehold student investment comprising 52 bed spaces arranged in 10 cluster flats

Kingsway House, Elm Grove, Portsmouth, Southsea, PO5 1LR

Offers in excess of £3,850,000

Property Types:
Residential, Student
Sub Type:
Student Accommodation
Tenure:
Freehold

Description

  • Freehold student block
  • Total of 52 student bed spaces split into 10 cluster flats arranged as:
    • 1 x three bed flat
    • 5 x four bed flat
    • 3 x seven bed flat
    • 1 x eight bed flat
  • 48 of 52 rooms let for the current Academic Year (2019/20)
  • Total Current Gross Rent Received: £280,994
  • Total Estimated Rental Value (assuming fully let subject to 51 week tenancies): £337,824 per annum
  • Gross Initial Yield (based on the ERV): 8.77%
  • Located in a popular student area near the University of Portsmouth

Offers in excess of £3,850,000 are invited for the Freehold interest, subject to the existing tenancies and subject to contract

Subject to contract