Summary - CANTERBURY HALLS, 2, GARSTANG ROAD, PRESTON PR1 1AL
1 bed 1 bath Apartment
Turnkey university-let with strong on-site amenities and immediate rental income.
- Purpose-built modern studio with 125-year headlease
- Tenant in situ: let Sept 2024–Aug 2025, income rising to £146/wk
- Net income approx £4,043 per year after charges
- Service charge ~32% of rental income; management controls lettings
- Ground rent £275 per annum
- Electric room heaters; no gas central heating
- Located in high-crime, deprived student neighbourhood
- Communal gym, cinema, rooftop terrace, concierge and cycle store
A compact, purpose-built studio in Canterbury Halls presented as a turnkey student-let investment. The block is modern (around five years old) and comes with an on-site management company, letting the room for the 2024/25 academic year and providing full furnishings, bills and high-speed broadband. Communal amenities include a gym, cinema room, rooftop terrace, concierge and cycle store — strong appeal for the university rental market.
Income is currently £142 per week, rising to £146 per week from September, with net income after stated costs of approximately £4,043 per year. Headlease length is 125 years and EPC rating is B. Ground rent is £275 pa and the management/service charge is approximately 32% of rental income; rooms can only be let to students via the management company.
Buyers should note material considerations: the property relies on electric room heaters rather than mains gas, broadband speeds are average, and the wider area scores high for crime and deprivation. The studio is in a densely student-focused neighbourhood, so it suits investors targeting guaranteed student demand rather than long-term owner-occupiers seeking family amenity.
With an asking price of £53,000 and a managed tenancy in place, this offers immediate entry into the Preston student market. Investors valuing low-management, ready-made lets will find the package straightforward, while those seeking broader rental flexibility or family use will be restricted by the management company’s student-only letting policy.
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