SUBSTANTIAL STUDENT PROPERTY INVESTMENT
FOR SALE AND HOUSING DEVELOPMENT OPPORTUNITY
Student property investment for sale is on cleared site of 0.28 ACRES (0.11 HECTARES). The development opportunity to provide two blocks comprising 38 en-suite bedrooms in five cluster flats together with two studio flats.
- ESTABLISHED AND ATTRACTIVE STUDENT LOCATION
- ON SOUTHWESTERN FRINGE OF HUDDERSFIELD TOWN CENTRE
- FULLY CONSENTED SCHEME
- DETAILED PLANS AND INFORMATION AVAILABLE UPON REQUEST
For further information on this student property investment or to arrange a viewing, please contact Tapp Chartered Surveyors on 0113 243 0920
Description of the student property investment development opportunity
Our client’s site is in a L-shape and slopes down gradually from Woodthorpe Terrace towards Manchester Road. The student property investment and which is detailed in the attached plans comprises two separate blocks. To the north of the site, Block 1 is a two-story building providing two individual five bedroom cluster flats. To the west of the site is Block 2, offering accommodation over lower ground, ground, first, and second floors within the roof slope. The lower floors will offer five individual cluster flats of five and six bedrooms. Within the attic are two individual studio flats. The scheme has been carefully drawn by local architectural firm Farrar Bamforth Associates. Detailed schedules and drawings of construction, joinery details, windows and doors etc., can all be provided to interested parties upon request. The scheme is to be built in stone and under a pitched grey tiled roof.
Our client’s architects have provided us with the following approximate schedule of internal areas:
- Block 1 Ground floor – 1,375 (SQ FT) 127.58 (SQM)
- First floor – 1,300 (SQ FT) 120.86 (SQM)
- Block 2 Lower ground floor – 1,476 (SQ FT) 137.16 (SQM)
- Upper ground floor – 2,597 (SQ FT) 241.29 (SQM)
- First floor – 2,597 (SQ FT) 241.29 (SQM)
- Second floor – 739 (SQ FT) 68.69 (SQM)
- Individual bedroom sizes in the development vary but most are between 137 sq ft (12.74 sqm) and 148 sq ft (13.72 sqm).
STUDENT HOUSING IN HUDDERSFIELD
The market for student housing ranges from a still considerable number of terraced properties, includes a number of mid-sized privately held halls of residence, two “university backed” halls of residence at Storthes Hall and Ashenhurst Campus and finally includes a number of high-quality student housing developments operated by national investors. Rents in poor quality student housing are as low as £50 per week with typical rates in modern halls between £80 and £100. Throughout the city are a limited number of typically over-subscribed studio flats and which are particularly popular with postgraduate and foreign students.
Typical rents for those – depending on quality and location can be between £100 and £130 per week. A development like the subject in an established and popular student area – close both to the university and the town centre – should allow continued decanting of students from the poorer quality housing. We estimate that our client’s development could achieve rents in the region of £90 per week and thus produce a total rental value in the region of £183,500 – based only on 50-week lettings.