West Walk, Leicester, LE1

£1,250,000
  • Ref: 7b19c88b-5cb1-4bc2-8c59-d8d7b60d0858
  • Availability: Sold STC
  • Bedrooms: 17
  • Bathrooms: 17
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Property Features

  • Highly Desired Location For UoL
  • Potential For Conversion To Apartments STPP
  • Prime Investment Opportunity
  • Potential To Achieve £120-£140 Per Room, 9.1% Yield
  • Ideal Student Accommodation
  • Viewing Essential
  • Modern And Well Maintained
  • HMO Licenced
  • 17 Ensuite Bedrooms
  • Three Kitchens

Property Summary

An exciting HMO investment opportunity: a stunning 17 ensuite bedroomed Victorian villa in a prime location on West Walk to serve University of Leices...

Full Details

An exciting HMO investment opportunity: a stunning 17 ensuite bedroomed Victorian villa in a prime location on West Walk to serve University of Leicester students.

Property
This three full storey Victorian villa with large liveable basement occupies a prominent position on West Walk, minutes from the University of Leicester making it a highly desirable home for students. The 17 bedrooms are arranged with two at basement level, five on the ground floor, five on the first floor, and five on the second floor. Each boasts ample space for a double bed, storage, and desk as well as enjoying a stylish ensuite comprising a shower cubicle, wash hand basin, and WC.

The common areas consist of a large living room which flows into the fully equipped kitchen on the ground floor, two further kitchenettes on the first and second floors, and a laundry room to the basement. Each kitchen is fitted with an array of contemporary wall and base units with appliances provided. The white washed walls make for a bright and airy feel throughout the villa as well as allowing for easy maintenance between academic years.

The local student market is booming with the current rental appraisal of these large rooms being between £120 and £140 per week. Based on a standard 48 week contract this equates to 7.8% to 9.1% yield. As well as being immediately appealing to student accommodation investors, preliminary plans have been drawn up for the possibility of a redevelopment and conversion into ten self-contained apartments. These ten apartments would command a much higher price and appeals perhaps even more to the ever evolving student market. Each apartment would vary in size from 283 sq. ft. to 457 sq. ft. with space given over for staff offices to provide the highest accommodation experience for the University's students.

Outside
The imposing and impressive frontage is immediately spotted upon turning onto West Walk. Off road parking is provided immediately outside atop the tarmac driveway.

The outside space to the rear is block paved with flowerbed borders ready for planting. The garden is enclosed by both high level brick walls and modern timber fencing.

Location
The villa is located in a highly desirable part of Leicester City which commands higher rental figures. The heart of Leicester City Centre, offering all the required amenities, lies just a ten minute walk down leafy New Walk. A broad range of entertainment in the form of the Curve Theatre, De Montfort Hall and Highcross shopping centre and eateries all lie within the surrounding area. The University of Leicester is on this property's doorstep while Leicester Royal Infirmary is also close by, handy for placement students. For students at Demontfort University, the property is also situated within easy reach. The mainline railway service with fast links to London St Pancras, Birmingham, Nottingham, and beyond is also within a short walk.

Viewings and Directions
Please contact the sole agent Oliver Rayns Estate Agents to book a viewing as we must liaise with the current tenants.

Postcode for SatNav: LE1 7NA