Summary - Flat 19 The Met, 16, The Midway ST5 1FB
1 bed 1 bath Apartment
Immediate rental income in a purpose-built student block close to universities.
Tenant in situ generating ~£137pw; booked higher rates for 2025/26
Long lease: 244 years remaining
Approximate 12% gross yield at asking price
Purpose-built student block with communal amenities
Service charge ~£1,810.44 pa; management fee 8.5%
Small studio layout; limited living space
Electric room heaters — higher running costs likely
Local area: high crime rate and wider deprivation indicators
A compact, purpose-built student studio offering an immediate income stream — currently let at £137pw with bookings for next year at higher rates. The Metropolis development is designed for student demand with en-suite, fitted kitchen and communal facilities including study areas, laundrette and café-style common room, making it straightforward to let to university tenants.
Financially this is a clear buy-to-let play: the current tenancy produces an approximate 12% gross yield at the asking price, with a long lease remaining (244 years) and predictable service charge and management arrangements. Council Tax is not payable for bona fide full-time students, supporting running costs for student-occupied periods.
Practical realities are plain: the studio is small and configured as a compact living space, heated by electric room heaters which can be costlier than central systems. Service charge and an 8.5% management fee reduce net returns; buyers should budget for the annual service charge of about £1,810.44 and confirm all income and outgoings independently.
Location is convenient for Keele and Staffordshire universities and sits within walking distance of Newcastle-under-Lyme town centre and its transport links. Note the wider area shows high crime statistics and local deprivation indicators; this matters for long-term capital growth and tenant profiles. This is best suited to investors seeking an income-producing student unit rather than an owner-occupier seeking spacious accommodation.
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