This 7 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: £29,196 in 2014/15, £31,021 in 2015/16, £32,481 in 2016/17, £32,919 in 2017/18 and £33,285 in 2018/19.
The Net Rental Yield for Stanmore is guaranteed at 9% from August 2018 until July 2020. This amount is regardless of void periods and is backed by a corporate guarantee from The Parklane Group.
The property is currently tenanted on a 12 month contract covering the 2018/2019 academic year. The management of 33 Stanmore street 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, this particular property demonstrates the rent resilience really well as the rental income has increased year on year for the last 5 years.
The property itself has been fully refurbished to a high standard, and the 7 bedrooms are spread out over 4 floors. There are two house bathrooms, a recently fitted contemporary kitchen and a nice large living room. The property has double glazing throughout.
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This property is currently tenanted for the 2019/2020 academic year. There are no maintenance concerns reported. However, the property is potentially earmarked to undergo some sprucing up over the summer. The work carried out will be done to ensure that the property continues to achieve the rental income we want.