Buy to Let

Nottingham student accommodation snapped up in £3.25m deal

Credit: Shutterstock.com/ ASDF_MEDIA

The prime student rental areas of Lenton and the Arboretum have been acquired by Nottingham-based MS Estates on behalf of an un-named London based institution in a deal said to be worth £3.25m.

The buyer plans to further upgrade the accommodation before letting out to students again.

The news comes as Emoov, the online estate agent reveals that Nottingham University  ranks as number one in the best buy-to-let option, with an average house price of £133,215 and an annual average rent of £11,400, Nottingham offers a rental yield of 8.56%.

Russell Quirk, founder and CEO of eMoov.co.uk, commented: “Despite the buy-to-let market receiving a bit of a kicking over the last year, it still remains a very lucrative business and one that is only marginally soured by the additional 3% in stamp duty tax.

The presence of a top university nearby is one way of ensuring a consistent stream of income to sweeten the recent changes in buy-to-let dis-incentivization. What’s more, the UK has an abundance of top universities spread far and wide and so it provides a whole host of more affordable options for getting on the buy-to-let ladder, other than the usual go to option of an over inflated London market.”

Leave a Reply

Your email address will not be published. Required fields are marked *

2 + 13 =