About Allen Street
Allen Street is a new student accommodation development in Sheffield
Sheffield is home to a significant student population as many are attracted to the city due to its affordability, buzzing nightlife and top tier universities. Currently, there are over 60,000 students studying in the city, split between the University of Sheffield and Sheffield Hallam making it a great location for a student accommodation investment.
Allen Street seeks to offer luxury living for the modern student in the city. The studio apartments come fully furnished with a kitchenette including all appliances, en-suite bathroom, double bed, study desk, TV, chair, dining tables and much more, meaning it has all the household essentials already. Sheffield’s major attractions, university campuses and general facilities including bars, shops and restaurants are just a short walk or tram ride away. Which is attractive to the discerning student who does not want to spend time and money travelling large distances to their lectures and seminars.
Allen St is a hybrid building designed with rooms and spaces to encourage interaction, community and space to live, work, study and relax and grow as individuals as well as students. The facilities provide a welcome and support through the students most important years. The development with be designed around 3 main ethos: home and well being, natural reclamation and a nod to Sheffield’s heritage, elements of this can be seen throughout the building making it the perfect Sheffield student accommodation investment.
The development is being built with an abundance of social spaces for the occupants, including a rooftop outdoor area, gym, study pods and wellbeing spaces for yoga, Pilates and movie nights. Which will ensure this development is attractive to all future undergraduate and post graduate students studying in Sheffield.
Sheffield Student Accommodation Investment Summary
- Purchase Price: £82,500
- Contracted 8% net rental income for 5 years
- No Stamp duty on student properties up to 150k
- Fully furnished en-suite studios within walking distance of both university campuses
- Superb prime city-centre location
- Hands-off investment opportunity
- Experienced developer and management company
- Brand new building due for completion in 2020
Sheffield has a sizeable student population and was recently crowned the best city for graduates. With affordable rents and a pint of beer costing on average £2.70, it is no surprise the younger generation are flocking to the city to study. The University of Sheffield and Sheffield Hallam boasting over 63,000 students between them, so there is lots of demand for good quality rooms in prime locations. Allen Streets proximity to both campuses with them both being well under a miles walk away, will set it in good stead to achieve excellent occupancy levels.
Why Invest in Student Accommodation in Sheffield?
A lot of investors are attracted to the idea of student property due to its easy maintenance. Developments are often fully managed, which is ideal for the overseas investor or busy individual who does not have the time to oversee its day-to-day running. These types of investments are becoming more and more popular, and Knight Frank estimates the purpose-built student accommodation market to be worth £46bn. The largest transaction was the purchase by the property arm of Temasek of a portfolio of 25 student buildings in various cities including London and Manchester. Hiew Yoon Khong, chief executive of Mapletree (Temasek’s real estate section), commented “Student accommodation is a big business and relatively low risk.”
Students are evidently willing to pay for good quality housing, which allows investors to achieve excellent yields. According to research by Knight Frank, over a fifth of students are willing to pay over £160 per week if the facilities impress them. Features most discerning students seek out include having an en-suite bathroom and a range of communal spaces – both of which the Allen Street development will have an abundance of.
Don’t miss out!
There is only a short period of time in which you can grasp a hold of the 8% rental yield contracted for 5 years. The majority of the launch incentive units have already been reserved by other investors, call me today to find out more about this property.