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Offers in region of
£70,000

1 bedroom property for sale

Northgate Point, Chester, Chester, CH1
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Property
1 bed
1 bath
Added > 14 days

Key information

TenureLeasehold
Council taxAsk agent

Features and description

  • Tenure: Leasehold
Excellent ready-made investment opportunity with tenant and management company in place. 0.7 miles from University of Chester. Estimated 7.75% net yield return based on current income and expenditure!

The net yield based on a £70,000 purchase price is 7.75%.

X1 Sales is excited to present this fantastic student investment opportunity in Chester town centre, just 0.7 miles from the University of Chester!

Northgate Point, opened in 2016, offers everything you would expect from a modern student complex. With its contemporary design and stylish interior, this development redefines traditional student accommodation, providing luxurious living for those who appreciate comfort and quality.

Property Highlights:

Standard Studio featuring a double bed, wardrobe, desk, chair, private kitchen, flat-screen TV, bathroom, and full-length floor-to-ceiling windows.
Current tenancy: 51 weeks starting from 10th September 2024, with a tenant paying £165 per week in rent.
Financial Overview:

Annual rent: £8,580
Letting/Management fee: 4% of annual rent (£343.20)
Service charge: £2,500 (covers all utilities, as apartments do not have individual metering)
Ground rent: £310
Total annual costs: £3,153.20
With an estimated net yield of 7.72% based on current income and expenses, this is a solid investment opportunity in a prime location!

For more information or to arrange a viewing (or virtual viewing), please feel free to get in touch with us today!

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About this agent

X1 Sales and Lettings - Greater Manchester
X1 Sales and Lettings - Greater Manchester
Unit 1, 9 Michigan Avenue Salford, Greater Manchester M50 2HA
0161 506 3018
Full profileProperty listings
Welcome to X1 Sales and Lettings! We are a nationwide agency representing over 4000 landlords across the UK and are proud of both the properties in our care and the strong reputation that we have built over the last 10 years.  The X1 team is passionate about providing a level of aftercare that is unparalleled within the market and places high importance on both landlord and tenant relations.  Tenants renting with X1 will receive a resident exclusive loyalty card which gives access to discounts and offers at a range of local businesses across the City.  Landlords benefit from one dedicated point of contact who communicates with property managers, and tenancy care managers to ensure that costs are kept to a minimum and rental income is maximised.  For more information on our services -  or to get started on your home moving journey -  get in touch with a member of the team today.  We are looking forward to working with you! 
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