North Road East, Student Accommodation in Plymouth

Plymouth      Student Accommodation     

Properties from £74,950 - £90,450

Fully furnished studio and one bedroom apartments
250 year leasehold
Communal gardens, parking and bike store
Reserve for £5,000
3 year guarantee at 8% NET
Fully managed investment
Very close to Plymouth University

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Overview

North Road East, Plymouth

 

North Road East is a brand new, purpose built development of 39 high-specification self-contained studios and one bedroom apartments situated in a prime location in the centre of Plymouth and within 6 minutes walk from Plymouth University and national rail links.

Both the studio apartments and 1 bed apartments are due to be completed by Q1 2019. These apartments are being sold on a leasehold basis of 250 years, with the financials on each style of apartment demonstrating an 8% net rental yield, which will be guaranteed for 3 years.

The development offers a safe and secure living environment for students studying and working in the heart of the city and includes an entrance foyer, secure fob access, communal gardens, lifts to upper floors, disabled access, high specification throughout, bike store and parking. The apartments themselves offer en-suite facilities and a fully equipped kitchen and furnishings.


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Property Highlights


North Road East is a brand new, purpose built development of 39 studio and 1 bed student apartments. This fully managed student accommodation has a much sought after central location in the beautiful city of Plymouth.


  • Self-contained student studio and one bed apartments.
  • Fully managed investment.
  • 3 year guarantee at 8% NET.
  • 5% interest on deposit
  • Prices from £74,950.
  • Communal lounge.
  • Fully fitted kitchens.
  • Communal gardens, cycle store and parking.
  • Contemporary fixtures and fittings.
  • Plymouth University just 6 minute walk away.
  • National rail links 6 minute walk away.
  • Apartments spread over three floors.
  • Reserve today for £5,000.

For more information, contact a member of our team on +44 (0)1202 765011 or email [email protected].


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Location


The new build development at North Road East is the perfect location for student accommodation, with Plymouth University and the Plymouth College of Art just a 6 minute walk away, whilst Marjon University is a 5 mile journey by car or public transport. Furthermore, the train station, providing national rail links, is also just a short walk away, as is the Drake Circus shopping centre, Addison Park, the Nancy Astor Sports Centre, and a large supermarket. It really doesn’t get more central than this! With everything you could possibly need right on your doorstep, North Road East is a highly desirable place to live.

Ranked in the top 2% of degree-granting institutions of higher education worldwide, Plymouth University has a long heritage and an excellent reputation. Originally founded in 1862 as a School of Navigation, the university has gone on to excel in a wide range of subjects, although marine science still plays a very important role. Indeed, in 2012 the university opened a £19 million marine building, creating the largest Marine Science and Engineering School in Europe. Plymouth University has seen significant growth and investment over the last 10 years and is now home to a state of the art performing arts centre, a £16 million Peninsula Medical School, and new research laboratories at the Derriford campus in the north of the City.

Why invest in Plymouth?


Located on the south coast of Devon, Plymouth is a city of stunning natural beauty, and is a thriving industrial and academic centre. From the cobbled streets to the breath-taking harbour and the stunning architecture of the beautiful historic churches, you can see that Plymouth is bursting with culture and a proud heritage. But it is also a vibrant city, where tourists and residents can choose to enjoy the hustle and bustle of city life, or indeed the more tranquil lifestyle provided by coastal rural living. Plymouth really is a city that offers a bit of everything.

As a thriving port city, Plymouth has almost 300 marine and maritime businesses, the largest cluster of its type in the South West. Plymouth’s position as a city of significant naval and maritime importance is undeniable, and as a result the city came under significant attack in World War II, with it having to be rebuilt post war. Today, there are over 750 listed buildings in Plymouth including the impressive Royal Albert Bridge, the medieval Boringdon Hall, and the Tinside pool, which has been voted one of the top 10 best outdoor pools in Europe.

There is so much to do within Plymouth, no matter what your interests. The eclectic Plymouth market is one not to be missed, and the Drake Circus shopping centre offers over 70 of the UK’s top high street shops all in one place. For those wishing to take in the beautiful sights of the area, there are many cycle trails and walks that can be taken through the numerous parks and green spaces. Particularly impressive is the stunning Burrator Reservoir and the much visited Plymouth Sound. For those looking for something a bit different there is a climbing centre and an adrenalin urban activity park. Plymouth pavilions provides an exceptional concert venue for a good night out, hosting lots of big names in comedy and music, and there are also a number of theatres, bars, clubs and restaurants providing a great social scene for all to enjoy.



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Financial Overview

Purchasing Property within North Road East, Plymouth.


We will guide you through the following process:


  • Your sales consultant will prepare a reservation form which includes details of the unit that you have chosen and the financial terms offered by us.
  • You will then be asked to sign the reservation form and pay the £5,000 reservation fee to reserve the unit. Within 7 days, you are required to send us your certified identification documents along with source/proof of funds for the unit you are intending to buy.
  • A memorandum of sale is then produced by the developers dedicated sales support team and issued to the third party solicitor chosen by you to act on your behalf. At this point the purchase contracts will be drafted by our solicitors and sent to your solicitor for review.
  • A client care pack will be sent to you by your chosen solicitor, there are documents within this pack that require your authorisation, this allows the necessary checks to be carried out and the purchase to continue as per UK conveyancing law. .
  • Your solicitor will also send you the purchase contracts and their report on title, this is your third party advice that relates to your purchase. You should read this thoroughly and liaise directly with your solicitor to ensure you’re satisfied with the documents you have received.
  • Once you are ready to proceed you will be asked to sign and where appropriate have your witness sign the contracts and return them to your solicitor, using a secure, signed-for delivery service. At the same time, you are required to transfer the 50 % of the balance of purchase into your solicitor’s client account.
  • A further 25% of the balance is to be paid by June 2018 and final 25% to be paid on build completion. Upon receipt of your documents and the balance purchase monies, exchange can take place and completion will take place once the property has been built. Your lawyer will then attend to all registration formalities with the Land Registry.
  • Management Fee is £1,200 per annum for the studio apartments and £1350 per annum for the one bedroom apartments.
  • The Ground Rent is £350 per annum.

For full details on the purchase process contact a member of our team on +44 (0)1202 765011 or email [email protected].


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