The cash input required for these excellent properties starts from just £35,750 and investors can take advantage of non status funding. This exciting new development offers extremely competitive projected returns of up to 11% net from year 1.
The Glass Works is a new build modern student project arranged across 5 blocks, each 4-5 storeys high with a mixture of en-suite student rooms and self contained studios. Rooms will be fully furnished to a high standard and provide students with access to high speed broadband and satellite television. The development will incorporate a communal kitchen and common room for every cluster of rooms and each studio room will be self contained. Students will have access to a chill-out/media rooms and lounges in Block A and Block D will house the laundry, management and security offices.
The Glass Works is in an excellent location, within easy walking distance, just ½ mile from Northumbria University and 1 mile from the University of Newcastle-upon-Tyne. It is within walking distance of the Quayside, renowned for its nightlife with the Baltic Centre and Sage Gateshead accessed by the spectacular Millennium Bridge. Newcastle city centre is within 15 minutes walk of the development.
THE UNIVERSITY OF NEWCASTLE UPON TYNE, ESTABLISHED IN 1963 HAS APPROXIMATELY 20,000 STUDENTS
The University is a popular choice for students, ranked 12th in the Sunday Times University Guide. The latest results from the annual National Student Survey (NSS), which gathers the views of undergraduates, has shown that 89% of students are happy with their overall experience at Newcastle. Unchanged from last year, this shows the University is maintaining its high standards according to around 3,000 students who completed the survey. Standards of teaching were rated very highly by students, with at least 9 out of 10 saying staff were good at explaining things and that teachers were enthusiastic about their teaching. Among the areas of improvement for Newcastle this year is the library, which has a satisfaction rate of 90%, up 5% on last year. The Robinson Library has recently undergone significant refurbishment, with updated and increased study and IT spaces. Access to IT and other resources have also been improved on last year, going up by 4% and 5% respectively in the survey. Away from studying, the Students’ Union has proved popular with students after its £8m refurbishment programme, which was finished last year. It achieved a 76% approval rating in the survey, putting it in the top 10% in the country. The University has increased its presence Internationally through Newcastle University Medicine Malaysia the UK’s first overseas campus. It also has a strong partnership with the Singapore Institute of Technology.
GRANTED UNIVERSITY STATUS IN 1992, NORTHUMBRIA UNIVERSITY HAS APPROXIMATELY 35,000 STUDENTS.
The university is an expanding multicultural learning community, with excellent links with further and higher education, industry and commerce throughout the UK, Europe and beyond. Renowned for the excellence of its teaching, as well as for preparing students for the world of work, Northumbria also provides research opportunities for professional reflective practice. Northumbria has two separate campuses. The largest, City Campus, is situated in the centre of Newcastle upon Tyne and has recently been extended with the building of a £100 million+ development at City Campus East. The Coach Lane Campus is situated in a suburb of the city, 3 miles from City Campus and linked by the University's free bus service. Northumbria University is currently ranked 66th in the Sunday Times University Guide.
">THE INVESTMENT PROPOSAL
Glass Works Newcastle Limited is delighted to offer this superb opportunity in the lucrative student accommodation sector, providing the investor with excellent returns.
Availability is strictly limited; en-suite rooms are available for £55,000, standard studios for£65,000 and large studios for £70,000.
Clients can reserve for just £5,000.
Investors will have the reassurance of a 7% net minimum return guarantee for the first 3 years regardless of performance of occupancy.
Cash input required from just £35,750, 50% deposit is required on exchange of contracts (less the reservation fee) and the remaining 35% can be funded on completion.
En-suite student rooms are projected to produce 7.45% net yield from year 1 to 8.06% projected for year 3.
Studios are projected to produce in excess of 11% net yield per annum from Year 1 to 11.9% projected for Year 3.
The rooms will be fully managed and maintained by South Street | DIGS, a specialist national student accommodation operator, providing investors with peace of mind that all aspects of both the property and rental management will be professionally dealt with, providing a hands off investment.
The rooms are purchased on a leasehold basis, similar to an apartment, and will be offered with a 125 year lease.
The development will consist of 270 units in 5 blocks which will be a mixture of self contained studios and cluster flats. Each cluster has a fully equipped communal kitchen and common room.
35% non status funding is available, with a management company funding deduction (MCFD), a tax efficient funding vehicle, that simply deducts a fixed amount from the gross rent, prior to payment of the net rent to the investor.
Investors have the peace of mind that their deposits will be protected by an insurance policy for the period of the build.
Specialist solicitors have been sourced for the purchasers and contracts are to be exchanged within 28 days of reservation.