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olde guto

Purpose Built Student Flats Being Flogged To Speculators

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Interesting... Just spotted these whilst perusing rightmove (pictures having nothing to do with the developments in question).

3 separate adverts for what looks like flats in the same purpose built student accommodation scheme, first time I've seen anything like this being done.

http://www.rightmove.co.uk/property-for-sale/property-53635783.html

http://www.rightmove.co.uk/property-for-sale/property-53635867.html

http://www.rightmove.co.uk/property-for-sale/property-53635801.html

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Interesting... Just spotted these whilst perusing rightmove (pictures having nothing to do with the developments in question).

3 separate adverts for what looks like flats in the same purpose built student accommodation scheme, first time I've seen anything like this being done.

http://www.rightmove.co.uk/property-for-sale/property-53635783.html

http://www.rightmove.co.uk/property-for-sale/property-53635867.html

http://www.rightmove.co.uk/property-for-sale/property-53635801.html

To be fair,this has been going on for a while.There's a chance they're paying the guaranteed 10% return out of the up front 100% purchase price.

The real money in these schemes is the service/management fees going forward.Where,I'd hazard a guess that you're chances of getting hosed are quite high.

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Yes, have seen these schemes around, seem to be more about capturing student loans. Offloading the build costs onto mug punters with (as Sancho says) eye-catching returns for a couple of years, then recoup it all and more after that.

I presume these will also be liable for the 3% SDLT surcharge, which is something I had not previously considered.

This Liverpool conversion is apt- former prison now 'luxury' student accomodation:

http://www.liverpoolecho.co.uk/news/former-liverpool-bridewell-prison-marketed-9829846

This is a bit out of date(it is fully in use now)

The Main Bridewell was in Cheapside in Liverpool and the building is still standing although it is in the process of being re-developed. It was first opened in 1867 having been built in the Victorian tradition of striking fear into anyone who had the misfortune to have to spend some time there under lock and key. It had approximately 60 cells with each having a heavy wood door and each cell measuring 7ft x 7ft in total accommodation size. The toilet was positioned at the end of the wooden bench where a prisoner would have to sleep and the floors were made of stone.

19th century incarceration living space, today.

Edited by The Knimbies who say No

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Yes, have seen these schemes around, seem to be more about capturing student loans. Offloading the build costs onto mug punters with (as Sancho says) eye-catching returns for a couple of years, then recoup it all and more after that.

I presume these will also be liable for the 3% SDLT surcharge, which is something I had not previously considered.

This Liverpool conversion is apt- former prison now 'luxury' student accomodation:

http://www.liverpoolecho.co.uk/news/former-liverpool-bridewell-prison-marketed-9829846

This is a bit out of date(it is fully in use now)

19th century incarceration living space, today.

Hah! The old gaol in Oxford is now a luxury hotel https://www.malmaison.com/locations/oxford/?gclid=CMz54Nac7csCFVIYGwodiyIHsQ

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Captivating!

No reason why they can't be done to a good spec of course, but a night or two in a hotel is one thing, making it your home is another. Hopefully the dignificance of the surroundings is not lost on the young students..

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