Student scheme up for sale for £2.5m
A student accommodation scheme which houses 47 bedrooms in Nottingham city centre is up for sale for £2.5m.
Harris Lamb has been instructed to market the site at 72-74 St James Street, just off Maid Marian May.
David Walton, director, said: “As a thriving university city with a huge student population, this is an excellent opportunity for those investors looking to expand their portfolio of accommodation.
“This is an attractive Grade II Listed Georgian building which is fully let for the current academic year with good reservation levels for the forthcoming one. At present, the buildings generate a rental income of £213,913 per annum, making it a lucrative investment. Projected Income for 2019/2020 is £229,000.
“Student accommodation has been identified as a real hot-spot within the East Midlands, particularly in Nottingham, in the last two years, and we’re anticipating a high level of offers for this opportunity.” he added.
