The Printworks, Preston
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The Printworks, Preston
The Printworks in Preston is the latest development to provide luxury living options for students and a lucrative investor return of 9% net for 3 years excluding ground rent, from only £63,000.
Located on the University of Central Lancashire’s campus, The Printworks is the perfect solution for students looking for independent living in a student environment. The four-storey development comprises of 218 self-contained studios across two separate buildings. The development is the first all-studio student accommodation on the UCLan Campus.
Why Invest In The Printworks?
Student Accommodation as an asset class has numerous benefits such as limited costs, longer and high fixed rental yields, it’s fully managed and there is extensive demand but let’s take a look at why The Printworks itself is unique.
The Printworks is literally on the campus of UCLan, therefor tenants will have an ultra-convenient commute to University and it will also allow residents to save on any potential travel costs.
UCLan is the main university in Preston, with 30,000 students in total. It was founded in 1828 and now ranked in the top 4% worldwide, the university is also investing £200m into onsite facilities, so having such a reputable university on the doorstep of the accommodation makes for an attractive proposition.
In a city where there is a high-quality university typically high-standard student accommodation will be in demand. In most cases this type of university will attract overseas students who will want very secure and comfortable apartments, the parents will appreciate the CCTV, keycards, onsite fitness centre and communal areas which saves travelling and has a range of facilities in a secure environment.
In this case we are speaking from an investor perspective, as The Printworks is a mid-sized scheme it has been released to the market in two phases. Phase 1 has now 100% sold out demonstrating the sound investment structure and positive opinions following due diligence from investors around the world.
Earning a 9% yield contractually assured for 3 years is an attractive feature in itself. This is a contractually guaranteed income meaning your income will be consistent and stable allowing for transparency and certainty from this income generating asset.
Market Data & Analysis
The Guild City of Preston lies in the heart of the beautiful Lancashire countryside, and has a population of approximately 140,000. It traces its history back nearly 1,000 years, and is a modern multicultural city built on the solid foundations of the Industrial Revolution.
Preston is the administrative centre of Lancashire, a county with a £25.5 billion economy that supports nearly 650,000 jobs. Equipped with a competitive cost base and good location near to Manchester and Liverpool, Preston is the engine room of Lancashire’s economy and one of the largest local economies in the north of the UK.
The Printworks, Sizer Street, Preston, PR1 7DR
Preston has been reinventing itself since 1179 and continues to do so. Situated in the heart of the North West of England, this small city with a big personality attracts 30,000 students every year.
Students from over 120 countries come to study at UCLan, making this city a lively and diverse place to study.
Plus, there is no shortage of entertainment; a host of shops, restaurants, bars, and cultural attractions ensure that students return year on year to this student-friendly city.
Frequently Asked Questions
Below you can find a range of common questions from previous investors. If you require specific details and advice please do not hesitate to contact us today on +44(0)203 627 3987 or via [email protected]
The rental assurance offered by developers provides investors a level of security rarely seen in the residential market. They will commit to investors receiving the fixed figure irrespective of the performance of the asset, so even if the unit is unoccupied you will still receive the fixed rental income.
There will be a dedicated management company appointed who are experts in the local market, often student property specialists. They will have a network of tenants and relationships with universities to ensure optimum performance, so your property will be in safe hands with them taking care of the entire process of lettings and management.
Not much will change, you will still have someone looking after your property, although you are free to choose another management company. Your rent will be collected on your behalf and then it will work like a normal buy-to-let property with costs to consider. In most cases, due to the premium rent charged and low pricing, the net returns are very attractive.
During the purchase stage you will have to consider legal fees but typically there is no administration, furniture pack or other charges due. Once the property is complete, you will earn your net fixed income without having to consider other costs for the duration of the rental assurance period.
This type of investment property is a cash only purchase, most high street lenders do not provide finance for such purchases with the units often being below 30m2.
On some student schemes there are payment plans provided throughout the construction period. In most cases a minimum of a 30% deposit will be due at the exchange of contracts stage.
Selling your student property is very simple, we can assist with recommended companies to market your property for sale, or you can use a traditional high street agent. The market is more niche compared to traditional residential property as you will be focusing on investor buyers but there tends to be significant demand for properties that perform well in terms of the net income and that have a track record of high occupancy rates and rents being achieved.
What does Nick, our Founder and Director, think of The Printworks?
“For successful student property investment, an investor should consider a number of factors, but one of the most important is the long-term demand in the region.
One way to ensure there is stable and consistent demand is to invest near a high-quality university which will attract students for many years to come.
UCLan is an exceptionally well renowned university globally, ranked in the top 6% worldwide. Considering this, plus the fact that the University is actively investing into its own onsite facilities, builds a strong case for attract students in the future, i.e. potential tenants.
Finally, the on-campus location of The Printworks means investors can benefit from this likely long-term supply of students wanting quality and convenient accommodation“.
Nick Hyland, Director