Block of 90 Apartments

Description

Residential investment situated within the £50m Trafford Civic Quarter redevelopment scheme, comprised of 90 self-contained studio and 1 bed apartments, all fully furnished.

• The property was recently converted and comprehensively redeveloped, completing in September 2020.
• 100% occupancy for the previous 2 academic years since completion.
• Academy Apartments is fully managed by Manchester’s leading lettings & property management company: Manchester Apartments.
• The property extends to c. 21,635 sq. ft NIA.
• The property is an official accommodation partner for the nearby University Academy 92 (UA92), established by former Manchester United players including Gary Neville. UA92 is in partnership with industry leaders such as KPMG, Microsoft, TalkTalk and The Russell Group amongst others.
• Academy Apartments enjoys a 3-year Nomination Agreement with UA92 to provide accommodation for students studying at the university.
• Academy Apartments is already let, with a NET rental income of c. £781,940 representing a NET yield of 6.55%.
• Rents are based on a blended occupancy period of 51.5 weeks. This is calculated based on a 50% renewal rate, and 50% of the building being void for 1 week to

Features

The residential investment is part of the £50 million Trafford Civic Quarter redevelopment scheme and consists of 90 fully furnished self-contained studio and 1-bedroom apartments. The property underwent a comprehensive conversion and redevelopment, finishing in September 2020. It has maintained 100% occupancy for the past two academic years since completion. Managed by Manchester’s prominent lettings and property management company, Manchester Apartments, the property spans approximately 21,635 sq. ft Net Internal Area (NIA).

Additional Info