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High-yield investment opportunity feeds demand for bespoke student flats

A development site with planning permission for a four-storey student apartment block is among the investor opportunities going under the hammer with SDL Auctions this month.

Auctioneers are expecting high demand from developers for the site at 18 Agard Street in Derby, which is being sold in the National Property Auction with a *guide price of £450,000+.

Currently featuring a commercial property which once housed an optical laboratory, the site has planning permission for part demolition and extension to provide 32 student apartments over four floors.

Each self-contained apartment will comprise an open-plan living kitchen/study/bedroom with en-suite shower room. There will be two laundry rooms, lifts to all floors, communal gardens and car parking, which is at a premium in this part of the city – especially for student accommodation.

Valuer Carl Finch said there was an ever-growing demand for bespoke student accommodation.

“Today’s students expect a much higher standard of living than their parents experienced when they were at university 30 years ago. Apartments such as those detailed in the plans offer everything they need, including bright modern rooms with en-suite showers and car parking.”

The site is close to other student accommodation, including the University of Derby’s own halls, and within walking distance of campuses, pubs, restaurants and the city centre.

Carl  added: “The location and scope of this site make it an excellent investment which, once completed, could realise a potential annual rental income of around £241,280, based on a weekly rent of £145 per flat.”

After operating as the leading auctioneer in Derby for many years, SDL Auctions is now the UK’s most successful live-streamed auctioneer, having sold more than 1,000 lots and raised more than £100 million for sellers since the start of 2020. Last month’s National Property Auction saw popular auctioneer Graham Penny return to the rostrum for the first time since the start of the pandemic and featured more than 200 lots, making it the biggest August auction the country has seen for 12 years.

Carl said: “It was great to have Graham back on the rostrum last month and to achieve another fantastic result; we raised £15.6 million for our sellers in August alone.” 

The site at 18 Agard Street in Derby will be sold in the next National Property Auction on Wednesday 30th September where more than 230 lots will be offered for sale with bidding available by telephone, over the internet or by proxy. To find out more about any of the lots for sale visit the website at www.sdlauctions.co.uk or call the team on 01332 242 880.