For Sale6 Bedroom Apartment in Brayford Wharf East, Lincoln, LN5 7BG£329,000

The perfect investment opportunity ! Property Details: Spacious Fifth Floor Apartment 6 Bedrooms, 6 Bathrooms Area: 1,451 sqft Fully Furnished Leasehold EPC rating: To be announced Council Tax Band: E (Exempt) - Lincoln City Council Key Highlights: Investment Opportunity - Hassle-Free Investment Rental Details: Projected Gross Rent for Academic Year 2023-2024: £36,000.0 Projected Net Rent for Academic Year 2023-2024: £18,507.69 Yield: Gross Yield: 10.94% Net Yield: 5.63% Property Description: The Junxion is a purpose-built student accommodation consisting of 569 rooms distributed among 99 apartments with 4, 5, and 6-bed en-suite clusters. Each apartment is fully furnished and features a shared kitchen and living space. The location is ideal, situated next to the University of Lincoln and conveniently close to the City Centre. Investment Details: This investment offers a completely hands-free experience. Professional property management company Mezzino handles all aspects, including property marketing, tenant rent collection, service charge management, and day-to-day building operations. In this 6-bed cluster apartment, each student pays £125.00 per week for a 48-week tenancy, resulting in a total of £36,000.00. The Service Charge, currently £17,492.31 per year, covers all utilities, repairs, furniture replacements, and other expenses. These charges are evenly distributed across all 569 rooms, including provisions for vacancies and potential bad debts, minimizing individual risk. The Service Charge also includes contributions to a sinking fund for future repairs and replacements. https://www.mezzino.com/property/the-junxion/