Offers Over £89,995
3 bedroom First Floor Flat for sale
134 Smithycroft Road, Riddrie, Glasgow, G33 2RQ
View propertyForming part of sought-after student accommodation in Glasgow, this ground-floor studio apartment offers an ideal investment opportunity for cash buyers. Originally used as a Sheriff’s Courthouse, St. Andrews Court has undergone an extensive refurbishment and is now used as high-quality student accommodation. Despite its change of use, the building retains many of the original period features which give it a unique character a world away from standard student accommodation. Refurbished in 2018, St Andrews Court is home to 122 students each year, postgraduate and undergraduate. Student accommodation in Scotland is typically in high demand from investors, because the majority of students don’t pay tuition fees and as such there is likely to be considerable rental demand for the accommodation when available. This property is also freehold.
The property is approached via a shared, secure entrance and vestibule, and it consists of an open-plan studio with space for lounge, bedroom, and study furniture, with a kitchen fitted to one wall and comprising cabinets, an integrated oven, hob, and extractor hood, and space for a freestanding fridge. The studio is supplemented by an en-suite shower room.
The development itself offers fantastic shared facilities, which contribute to the flats being in such high demand from students. These facilities include an on-site gym, a games room with pool tables, a cinema room, additional social areas, and a shared laundry room.
Financial Breakdown
Gross Rent: £180 Per Week. Rolling contract. 28-day notice is required.Service Charge: £376 – Average monthly payment (Includes Management Fee)Management Fee – 11% + VAT (Xenia Lettings Ltd. [email protected] or [email protected])
PLEASE NOTE – Due to the size and lease restrictions on purpose-built student accommodation, this property is not eligible for a mortgage and can only be bought as an investment property – CASH BUYERS ONLY.
Investment Highlights
Hugely popular destination for students and investors
Freehold property investment (no annual rent charges)
Higher than average rental yields
Within walking distance of all Glasgow Universities
Excellent communal facilities to attract students
Leading student management company in place
Fully tenanted every year since refurbishment
Full time caretake, CCTV and key card access to create a safe environment
Legislation in Scotland means that when short-term tenancies are available the managing agent will advertise for new tenants before the tenancy ends to try to ensure a constant flow of tenancies.
Features
Ground-floor studio flat in a student development in Glasgow
Investment opportunity for cash buyers only
Secure shared entrance and vestibule (with a lift to other floors)
Open-plan kitchen, living, and bedroom area
En-suite shower room
Excellent shared facilities including a gym, games
Area
This development is right in the heart of Glasgow and is conveniently located for access to the City Centre, the Merchant City, Financial District and West End amenities including Glasgow University, Botanic Gardens and Kelvingrove Park & Art Galleries. The City Centre and the Merchant City offers a wealth of amenities including both general and specialist shopping, wine bars and many highly acclaimed restaurants. The property is in close proximity to Strathclyde & Caledonian Universities, the Glasgow School of Art, The Royal Conservatoire of Scotland, SECC, Clyde Auditorium and various health and fitness clubs. The area benefits from frequent public transport with easy access to Central and Queen Street Train Stations, Cowcaddens and Buchanan Street subway stations.
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I have an obvious enthusiasm and passion for all things property. As a native-born Texan who now proudly calls Scotland home, my American “can-do” attitude sets me apart and pushes me to think outside of the box to help our clients achieve the most successful result when selling and buying property.
Tzana Webster, Head of Property Sales