39A, B, C, D And 41 Crookes Road, Sheffield, South Yorkshire, S10 5BA

Location

Sheffield boasts a thriving student population of over 60,000, creating a robust demand for rental properties. Despite rising rental prices, the city remains relatively affordable compared to other UK student hubs.

With a shortage of student accommodation and increasing competition for properties, Sheffield presents a compelling investment opportunity for landlords seeking strong rental yields. The subject properties are located on the popular student road of Crookes Road, running perpendicular to the main road in Broomhill, Fulwood Road.

The subject property is located in the prime student area of Broomhill, providing easy access to University of Sheffield campus.

Description

Crookes Road is a prime student HMO development comprising of 4 fully licenced HMO properties and 1no. detached 1 bed apartment. The property comprises 3no. 6 bed houses, 1no. 9 bed house and 1no. 1 bed detached house.

There is development potential to create an additional bedroom in the 9 bed house, which benefits from two kitchens and access doors, providing the ability for this to be let as 4/5 bed houses.

The property is fully let for the 2024/25 academic year until 30th June 2025. Potential to increase rents ahead of the next academic year. The total rent for the property is £168,720 per annum.

Terms

The properties are available to purchase for a quoting price of £2,250,000, which reflects a Net initial Yield of 7.05%, allowing for purchaser costs of 6.33%.