This six bedroom terraced house is situated in the Leeds student heartland. Due to its close proximity to three different University campuses it it has a strong rental track record. The rental history for this property is as follows: £28,787 in 2015/16, £30,351 in 2016/17, £29,412 in 2017/18, £21,250 in 2018/19, and £28,559 in 2019/20.
The property was recently refurbished to a high standard over the summer of 2018. As a result the property was only rented on a nine month contract in the 2018/19 academic.
The Net Rental Yield for Lumley Avenue is guaranteed at 8% from August 2019 until July 2021. This amount is regardless of void periods and is backed by a corporate guarantee from The Parklane Group. Rental income for this property will be paid whilst the investment is funding.
The property is currently tenanted on a 12 month contract covering the 2018/2019 academic year. The management will be handled by Parklane Properties, an award winning letting agent, that will not only handle all day to day management but also make sure that the property is let out at the best possible price.
The property itself is located in an area, Burley, which is popular with students already as there are three different campuses within a 1.5 mile radius. Furthermore, the demand in the student accommodation market has shown in the recent 2008 recession to be very resilient to rents going down.
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