The dire shortage of quality student accommodation units and the increasing number of people looking to study in Edinburgh is creating a huge demand
(PRWEB UK) 15 December 2016
Braefoot House is an exciting new launch of a student development in Edinburgh Scotland, due for completion in Q4 2017. As the new year approaches, now is an ideal time to consider 2017 investments.
One of the benefits of investing in Braefoot House is that it will be owned on a freehold basis – which means that the investor will own the property outright and will not be responsible for any ground rent charges. An assured net rental of 7.5% is guaranteed for two years and with reports of over 30 applicants per room and in an ideal location just 0.5 miles from University of Edinburgh’s campus, finding tenants will be a swift process. Regardless, investors will not have to worry about finding tenants or the day-to-day running of the property as the development is fully managed.
Edinburgh is one of the most popular destinations to study in the UK, boasting a sizable student population and a university that outranks both the University of Manchester and King’s College London. By 2020 it is predicted that there will be 33,330 people studying in the city who will require accommodation, which is estimated to generate £108m on-going expenditure per annum.
Not only is Edinburgh a popular city with students, it was also voted as the UK’s Best City to Live in 2015 by uSwitch, and again in 2016 in a poll run by the Telegraph. Key areas Edinburgh scored well in include having a low unemployment rate and residents enjoying a high amount of disposable income – the highest take-home pay of anywhere outside London. This has created the perfect environment for the rental market.
Investment director Arran Kerkvliet says of the development, “Braefoot House one of our most exciting student property investment opportunities for those looking to achieve high yields, as the dire shortage of quality student accommodation units and the increasing number of people looking to study in Edinburgh is creating a huge demand”.
The new year is the perfect time to consider investing in UK property, especially in a prosperous city such as Edinburgh. Braefoot House provides investors with the unique opportunity to own a property on a freehold basis, along with achieving high yields on a 'hands-off' basis. Units are priced at £107,800 for an 18m2 studio. The development is well equipped to deal with student needs and boasts computer rooms with state-of-the-art Apple computers on every level, a cinema, games room and landscaped gardens. Each studio will come fully furnished with the highest quality fixtures and fittings. The first phase will comprise 83 fully furnished and purpose-built studio apartments, and the second phase will see the completion of a further 89 units in a second block.
Payment for a studio will start with a 50% exchange deposit, this will then be followed by a further payment of 25% 3 months after exchange and a final 25% payment upon practical completion. More investors are recognising how lucrative owning student property in Edinburgh can be due to the shortage of accommodation and high student numbers, and there are a limited number of units available.
For more information about this student property investment, contact One Touch Investment today.